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

For Further Information: 443-8151 Prices remained stable in October TORONTO - Tuesday, November 3, 1998 - 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   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

Note to users: Although TREB endeavours to ensure the accuracy and timeliness
of information, it is not guaranteed. TREB accepts no responsibility for any
loss arising from any use or reliance on the information contained herein.
All information on this site is copyright © 1998 Toronto Real Estate Board. All rights reserved.