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For Further Information: 443-8151
Home Prices Break $230,000 Mark
TORONTO - Friday, April 30, 1999 -
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"The Toronto area average resale home price reached
$233,053 in April," TREB President Bill Palander reported
today, "that's the highest level in nearly eight years,
and good news for potential sellers."
The $233,053 figure was a 2 per cent increase from the $227,174 recorded in March, and up 5 per cent from last April's $222,194. Palander went on to note that the year-to-date average was $225,893, an increase of only 4 per cent from the first four months of 1998. "This is certainly a healthy advance, though nothing like the unsustainable 20 and 30 per cent increases that were routine through the late 80's real estate boom. Both buyers and sellers are being more careful this cycle, which is good for the long term health of the market."
Meanwhile, a near-record 6,594 single-family dwellings changed hands, up 14 per cent from the 5,795 recorded in March, and up 13 per cent from the 5,825 seen in April of '98. The median price also rose, to $198,000 from March's $192,000.
Breaking down the total 2,457 sales were reported in
TREB's 28 West districts and averaged $213,622; 991 sales
were reported in the 14 Central districts and averaged
$351,540; 1,259 sales were reported in the 23 North
districts and averaged $251,344; and 1,887 sales were
reported in TREB's 21 East districts and averaged
$183,925.
Neighbourhood Corner
The Annex
Spring has been good to the Annex this year. With 21 free-hold transactions recorded (detached, semi-detached and row), the sales pace was nearly triple that of 1998. The average price was $515,419, and the time-on-market only 20 days, just over half the city-wide figure. Fully a third of the homes sold for more than their asking price.
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Single-Family
Residential Breakdown
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Dwelling Type Single Detached Semi Detached Condo T.H. Condo Apt. Link Attached/Row Co-op Apt. Detached Condo |
Sales 3,492 707 619 1,214 249 298 11 4 |
Median $241,000 191,500 155,000 135,000 185,100 178,500 96,000 182,250 |
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April 1998 |
April 1999 |
% Change |
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Sales* |
5,825 |
6,594 |
(+13%) |
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Sales (P.O.T.) |
1,129 |
1,394 |
(+23%) |
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New Listings* |
9,447 |
9,951 |
(+5%) |
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Active Listings** |
22,174 |
20,599 |
(-7%) |
* Single-Family Dwellings Only
** Properties All Types including Single-Family
Dwellings.
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GR 05/99