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 Market Watch
May 1999

News Release

Price Breakdown

Single Fam. Res

Year-to-Date Single Fam. Res.

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Market Watch
For Further Information: 443-8152

Best May Ever

TORONTO - Monday, May 31, 1999 -

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

    Toronto Real Estate Board Members reported 6,296 sales in May, the best figure ever recorded for that month, TREB President Bill Palander said today. During the same period the average price of houses declined marginally, from the $233,053 recorded in April to $231,908.

    "Though both prices and volume fell slightly in May (sales were down 5% from the 6,594 recorded in April), this is natural for the time of year, and we expect to see a further easing as the weather heats up. Nevertheless, a record result for May indicates an unusually active summer market."

    Breaking down the total 2,388 sales were reported in TREB's 28 West districts and averaged $213,787; 954 sales were reported in the 14 Central districts and averaged $347,310; 1,198 sales were reported in the 23 North districts and averaged $246,640; and 1,756 sales were reported in TREB's 21 East districts and averaged $183,806.

    Neighbourhood Corner
    The Beaches

    Real Estate in The Beaches (the area running from Kingston Rd. to Lake Ontario, and from Woodbine Ave. to Victoria Park Ave.) showed a marked improvement over May 1998. The average price rose 13% from $331,395 to $375,081 and houses took a mere 16 days on average to sell, less than half the city-wide total of 39 days.

    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

    3,309

    700

    644

    1,172

    197

    256

    10

    8

    Median

    $239,900

    192,000

    157,000

    138,000

    196,000

    176,250

    131,500

    173,750


    Housing Market Indicators

    May 1998

    May 1999

    % Change

    Sales*

    5,912

    6,296

    (+6%)

    Sales (P.O.T.)

    1,172

    1,367

    (+17%)

    New Listings*

    8,551

    8,932

    (+4%)

    Active Listings**

    22,521

    21,209

    (-6%)

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


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GR 06/99