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 Market Watch June 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

Back Issues

TREB Maps

CREAstat

TREB Home

 

Market Watch
For Further Information: 443-8152

June Sets New Record!

    Toronto - Wednesday, June 30, 1999 --

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

    The Toronto residential Real Estate Market had its best June ever, with 6,304 homes changing hands during the course of the month, TREB president-elect Marilyn Baubie noted today. "That's up 16% from the 5,410 seen in June of last year, which was our previous record, and also up marginally from the 6,296 recorded in May."

    Prices, Ms. Baubie said, remained stable in June, down only marginally to $230,692 from the $231,908 recorded in May, and up 2 per cent from the $225,323 recorded in June of 1998.

    However, the president-elect noted that inventory declined in June, with active listings falling 5 per cent to 20,206 from the 21,209 recorded in May, and down 8 per cent from the 21,988 seen in June of last year. "That statistic is the only fly in the ointment," Ms. Baubie said. "Our Members are telling us that product is extremely limited, especially in the under $200,000 range."

    Breaking down the total 2,303 sales were reported in TREB's 28 West districts and averaged $214,703; 978 sales were reported in the 14 Central districts and averaged $330,995; 1,234 sales were reported in the 23 North districts and averaged $251,096; and 1,789 sales were reported in TREB's 21 East districts and averaged $182,368.

    Neighbourhood Corner
    Rosedale

    The market for upper-end homes in Rosedale took a beating in the early '90s, but appears to be bouncing back. The average price of a detached home in the area was $1,278,929, an impressive 33 per cent increase from the same period last year, with several sales in the over $3,000,000 category. Although the average time-on-market was 70 days, well above the city-wide average of 42, this reflects the exclusivity of the area and the small pool of potential buyers that can afford to purchase there.

    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

    3,293

    710

    629

    1,126

    235

    290

    15

    6

    Median

    $242,000

    192,000

    155,000

    137,125

    187,500

    183,000

    83,900

    165,500


    Housing Market Indicators

    June 1998

    June 1999

    % Change

    Sales*

    5,410

    6,304

    (+16%)

    Sales (P.O.T.)

    1,074

    1,315

    (+22%)

    New Listings*

    7,557

    8,117

    (+7%)

    Active Listings**

    21,988

    20,206

    (-8%)

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


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GR 07/99