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 Market Watch
 March 1999

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

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Market Watch
For Further Information: 443-8151

Home Prices up 3 per cent in March

TORONTO - Thursday, April 1, 1999 -

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

    Toronto's average resale house price reached $227,174 in March, an increase of nearly 3 per cent from both the $221,354 reported in February and the $221,564 reported in March of 1998. Further, sales rose to 5,795 in March, up 16 per cent from the 5,005 recorded in the same month last year, and up a whopping 32 per cent from the 4,393 seen in February.

    "It is clear that we have entered a seller's market," said TREB President Bill Palander. "And with our low level of inventory, there is likely to be an upward pressure on home prices for the foreseeable future." The President went on to note that, at 19,237, the total number of properties listed with the Board was down nearly 7 per cent from the comparable period in 1998. "These days, our Members' only complaint is the lack of product out there."

    Breaking down the total, 2,262 sales were reported in TREB's 28 West districts and averaged $205,309; 902 sales were reported in the 14 Central districts and averaged $344,272; 1,001 sales were reported in the 23 North districts and averaged $249,214; and 1,630 sales were reported in TREB's 21 East districts and averaged $179,186.

    Neighbourhood Corner
    Riverdale

    Riverdale boomed through the first quarter of 1999. At $314,992 the average price of semi-detached homes was up 18 per cent from the $267,668 recorded during this time in 1998. Further, the price of detached homes rose 13 per cent over the same time period, to $420,250.

    Average time-on-market in Riverdale was a mere 19 days, less than half the city-wide average, and nearly 20 per cent of the houses in the area sold for more than their asking price.

     

      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, 939

    660

    584

    1,104

    239

    252

    11

    6

    Median

    $239,000

    187,950

    149,000

    133,000

    184,000

    173,000

    87,000

    152,000


    Housing Market Indicators

    March 1998

    March 1999

    % Change

    Sales*

    5,005

    5,795

    (+16%)

    Sales (P.O.T.)

    1,043

    1,293

    (+24%)

    New Listings*

    8,338

    8,981

    (+8%)

    Active Listings**

    20,654

    19,237

    (-7%)

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


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GR 04/99