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

Issue:  July 2002

 

5,000 Sales in July

Sales through the Toronto Real Estate Board's MLS system totalled 5,075 in July, down 13 per cent from July 2001, and down 23 per cent from the 6,627 sales recorded in June, TREB President Ann Bosley announced today. "Despite these declines, July 2002 will still go down as the third best July on record," Ms. Bosley said. "What we are seeing is a combination of seasonal factors--the warm weather is causing potential homebuyers to take a breather--and a market in which we are experiencing more normal sales levels. We fully expect the rest of 2002 to set a healthy, if not quite record-breaking, pace."

Prices also declined marginally in July, the President noted. The average came in at $274,348, down 1 per cent from June's figure of $278,698, but still up 10 per cent from the $250,095 recorded in July of 2001. "While we still are in a classic sellers market, this easing in prices will provide a welcome break for potential home buyers. And with sales moderating, they will likely face fewer multiple-offer situations. It's an excellent time to make a move."

Breaking down the total, 1,917 sales were reported in TREB's 28 West districts and averaged $254,460; 744 sales were reported in the 14 Central districts and averaged $381,365; 1,079 sales were reported in the 23 North districts and averaged $303,395; and 1,335 sales were reported in TREB's 21 East districts and averaged $223,942.

Neighbourhood Corner
Brampton

Averaging $220,276, prices in Brampton (W-23 & W-24) for the first seven months of this year are up 7 percent from the January-July 2001 figure ($206,535). Detached homes averaged $262,295. Average time on market came in at about 33 days, a little better than the city wide figure, and sellers generally recieved about 98 percent of their asking price.


 
 

Dwelling Type
Sales
Median
     
Single Detached

2,613
$283,000 
Semi Detached

645
$231,500
 
 
 
Condo Townhouse

479
$185,000
Condo Apartment

870
$178,900
 
 
 
Link
168
$235,000
Attached/Row
285

$216,000

 
 
 
Co-op Apartment

9
$139,000
Detached Condo

6
$189,000

Toronto Area Housing Market Indicators

 

July 2001

July 2002

Change
Sales*

5,807
5,075

(-13)%
Average Price*

$250,095

$274,348

+10%
New Listings*

7,633

8,686

+14%

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

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