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

Issue:  May 2003

May Cracks 8,000 Sale Barrier

For only the third time in history, 8,000 plus existing home sales were recorded through the Toronto MLS system, TREB President Ann Bosley reported today. "Although the precise figure of 8,025 sales is down marginally from last May's 8,042, it is by far the best result for 2003 to date. Given our city's troubled spring, to see such a robust Toronto re-sale market is very encouraging.

Prices continued their upward progress in May, going to $298,451 from April's $292,783, a two per cent increase, and up seven per cent over May of last year. "This is clearly good news for sellers," Mrs. Bosley said. "However, active listings climbed eight per cent during the month, to 21,747. Eventually the increase in inventory will exert a welcome moderating effect on sold values."

Breaking down the total, 3,061 sales were reported in TREB's 28 West districts and averaged $274,189; 1,299 sales were reported in the 14 Central districts and averaged $412,733; 1,615 sales were reported in the 23 North districts and averaged $321,263; and 2,050 sales were reported in TREB's 21 East districts and averaged $244,292.

Neighbourhood Corner
Etobicoke

With 1,841 residential transactions to date this year, the Etobicoke (W-6 to W-10) housing market has slowed about 13 per cent over the same period in 2002, when 2,127 sales were recorded. However, prices for all types of residential property have risen to $305,927, a six per cent increase over the $288,768 recorded in Jan.-May 2002. Breaking down the total, the year-to-date average price for detached homes in Etobicoke was about $337,000, and for condo apartments $192,000. Finally, days-on-market averaged 33 days, identical to the city-wide average.

 

Dwelling Type
Sales
Median
     
Single Detached

4,106
$312,000 
Semi Detached

978

$249,900
 
 
 
Condo Townhouse

817

$195,000
Condo Apartment

1,414

$185,343
 
 
 
Link

247
$237,000
Attached/Row

436

$229,500
 
 
 
Co-op Apartment

19

$149,000
Detached Condo

8

$222,450

Toronto Area Housing Market Indicators

 

May 2002

May 2003
Change
Sales*

8,042

8,025

---
Average Price*

$278,323

$298,451

+7%
New Listings*

11,894

14,032

+18%
Active Listings**

21,165

21,747

+3%
*  Single Family Dwellings Only             **  Properties All Types including Single Family Dwellings
 
  

Last Issue

Main

Next Issue