Trebnet icon

 Market Watch
 October 1998

News Release

Price Breakdown

Single Fam. Res

Year-to-Date Single Fam. Res.

Single Fam. East

Single Fam. Central

Single Fam. North

Single Fam. West

Annual MLS Sales

Back Issues

TREB Maps

CREAstat

TREB Home

 

Market Watch
For Further Information: 443-8151

Prices remained stable in October

TORONTO - Tuesday, November 3, 1998 -

Button - Number of MLS Sales
Button - Number of New MLS Listings
Button - Number of Active MLS Listings

    The Toronto Real Estate Board is watching the election issue in Quebec closely to see how it will effect interest rates, said TREB President, Jimmy Lee. While present interest rates are extremely low, Mr. Lee says that TREB is hoping the Quebec election issue will not have a negative effect on rates.

    Mr. Lee says that TREB Members have reported 4,688 sales of single-family dwellings in the Toronto area for the month of October, an increase of 4 per cent over the 4,492 recorded in September. However, this is down 8 per cent from the 5,077 recorded in October of last year.

    "The numbers are strong for this time of year", said Mr. Lee. "We are seeing a good volume of sales combined with relatively stable selling prices."

    The average selling price rose about 2 per cent, to $217,908 from $213,917, between September and October. The median fell marginally from $185,350 to $185,000 over the same time period. However, both median and average were up from the same month last year. The average rose 3 per cent from last October's $211,791; the median was up marginally from the $184,000 of that time.

    Inventory of active listings continued to fall in October, down 2 per cent to 19,440 from the 19,876 in September, and down 2 per cent from the 19,889 recorded in October of last year.

    TREB's 4,688 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,021,555,250, and averaged $217,908. The median price was $185,000.

    Breaking down the total 1,732 sales were reported in TREB's 28 West districts and averaged $202,776; 753 sales were reported in the 14 Central districts and averaged $308,419; 850 sales were reported in the 23 North districts and averaged $238,259; and 1,353 sales were reported in TREB's 21 East districts and averaged $174,122.

    In addition to the sales of single-family dwellings, TREB Members reported 993 sales of properties of other types (P.O.T.) during October moving the total to 5,681. The dollar volume for properties of all types (P.A.T.) was $1,274,397,550, and the average price was $224,326.




      Single-Family Residential Breakdown

    LegendPie Graph

     

    Dwelling Type

    Single Detached

    Semi Detached

    Condo T.H.

    Condo Apt.

    Link

    Attached/Row

    Co-op Apt.

    Detached Condo

    Sales

    2,403

    517

    450

    961

    160

    180

    12

    5

    Median

    $227,000

    184,000

    148,000

    132,000

    181,000

    174,000

    114,450

    151,900


    Housing Market Indicators

    October 1997

    October 1998

    % Change

    Sales*

    5,077

    4,688

    (-8%)

    New Listings*

    7,238

    7,257

    (--)

    Active Listings**

    19,889

    19,440

    (-2%)

    * Single-Family Dwellings Only
    ** Properties All Types including Single-Family Dwellings.


    Market Watch is also available in an Adobe Acrobat Portable Document Format (.pdf) file. A .pdf file preserves the complete formatting of the original printed document. However, in order to view and/or print .pdf files you will first need the appropriate software. If you have an Internet account visit Adobe's WWW site and download the software free of charge.

    This issue of Market Watch -- in Adobe Acrobat Reader (.pdf) format.

GR 11/98