The following information are extracted from the Toronto Real Estate Board's Market Watch publication.

Issue:  August 2003

Another Record Set in August

The Toronto resale home market continued its winning ways in August, chalking up 6,549 sales, the best-ever figure for that month ever recorded, TREB President Cynthia Lai announced today. "Sales were up 12 per cent from the 5,845 figure of August 2001, which was our previous record, and up 21 per cent from last August. With 22,666 sales in the past three months we are on pace for our best summer market ever and a record-breaking year."

Prices continued to decline in August, down another one per cent to $285,772 from the $289,880. "Even though sales have surged in the second half of the year, prices have begun to moderate," noted Ms. Lai. "This is because we have a fairly healthy supply of inventory. The 19,134 active listing figure is up 16 per cent from the 16, 535 number recorded in August of 2002."

Breaking down the total, 2,401 sales were reported in TREB's 28 West districts and averaged $265,244; 1,062 sales were reported in the 14 Central districts and averaged $368,473; 1,388 sales were reported in the 23 North districts and averaged $317,050; and 1,698 sales were reported in TREB's 21 East districts and averaged $235,941.

Neighbourhood Corner
North York West

North York's West end (districts C04, C06, and C07) saw 1,563 sales of all types in the first 8 months of 2003, a three per cent increase over the 1,517 recorded in the first eight months of 2002. Of these, 411 were condominium apartments which sold for an average of $260,834, up about one per cent from the $257,312 recorded in the first eight months of 2002. In addition, 925 detached homes sold, and these averaged $537,357, a three per cent increase over the same period last year.

 

Dwelling Type
Sales
Median
     
Single Detached

3,143
$308,000 
Semi Detached

776

$249,000
 
 
 
Condo Townhouse

672

$197,000
Condo Apartment

1,369

$189,000
 
 
 
Link

202
$257,000
Attached/Row

365

$237,000
 
 
 
Co-op Apartment

15

$157,000
Detached Condo

7

$262,000

Toronto Area Housing Market Indicators

 

August 2002

August 2003
Change
Sales*

5,418

6,549

+21%

Average Price*

$266,154

$285,366

+7%
New Listings*

8,255

10,140

+23%
Active Listings**

16,535

19,134

+16%
*  Single Family Dwellings Only             **  Properties All Types including Single Family Dwellings
 
  

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