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Prices remained stable in October
TORONTO - Tuesday, November 3, 1998 -
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 Dwellings Only
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