Trebnet icon

 Market Watch July 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

The Records Keep Falling

    Toronto - Tuesday, August 3, 1999 --

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

    With 5,472 sales pouring through the TREB MLS system, last month set a new record as the busiest July ever for the Toronto resale home market, beating July '98's 5,026 figure by nearly 9%. "This is extremely good news," commented Toronto Real Estate Board President Bill Palander. "5,400 sales recorded during the middle of summer is an indication of an economy firing on all cylinders."

    Despite the frenzied sales pace, prices moderated in July, with the average down 4% to $222,102 from $230,692, and the median down about 3% to $193,000 from $198,150. "This is a perfectly normal seasonal development," Palander noted. "Unless you're in a full-fledged, 80's-style boom, prices just aren't going to go up every month. The lesson for potential sellers is to set a reasonable listing price. The days are gone when you could ask for something ridiculous and wait for the market to catch up with your price."

    Breaking down the total, 2,008 sales were reported in TREB's 28 West districts and averaged $208,581; 812 sales were reported in the 14 Central districts and averaged $304,319; 1,077 sales were reported in the 23 North districts and averaged $247,098; and 1,575 sales were reported in TREB's 21 East districts and averaged $179,861.

    Neighbourhood Corner
    High Park/Bloor West Village

    In July, the average price of homes sold in the High Park/Bloor West Village area rose 14% from the same month last year to $307,629, reflecting a more active upper-end ($300,000 +) market. Average time-on-market was 51 days, up 54% from the 33 days of July '98, reflecting the fact that more expensive homes generally take longer to sell.

     

    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

    2,765

    542

    571

    1,154

    197

    224

    11

    8

    Median

    $239,000

    190,000

    155,000

    138,700

    189,500

    180,000

    107,000

    170,750


    Housing Market Indicators

    July 1998

    July 1999

    % Change

    Sales*

    5,026

    5,472

    (+9%)

    Sales (P.O.T.)

    1,058

    1,090

    (+3%)

    New Listings*

    7,564

    6,949

    (-8%)

    Active Listings**

    20,559

    18,327

    (-11%)

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


    Market Watch is also available in an Adobe Acrobat Portable Document Format (.pdf) file. A .pdf file preserves the complete formatting of the original printed document. However, in order to view and/or print .pdf files you will first need the appropriate software. If you have an Internet account visit Adobe's WWW site and download the software free of charge.

    This issue of Market Watch -- in Adobe Acrobat Reader (.pdf) format.

GR 08/99