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 Market Watch
April 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 Break $230,000 Mark

TORONTO - Friday, April 30, 1999 -

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

    "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.

      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

    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


    Housing Market Indicators

    April 1998

    April 1999

    % Change

    Sales*

    5,825

    6,594

    (+13%)

    Sales (P.O.T.)

    1,129

    1,394

    (+23%)

    New Listings*

    9,447

    9,951

    (+5%)

    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