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

Issue:  November 2002

The Best Year Ever With a Month to Go!

With December still to come, the 5,537 sales recorded in November pushed year-to-date sales to 71,150, an all time one-year record for the Toronto Real Estate Board, TREB President Ann Bosley announced today. "While sales for the month of November were off 4% from the November 2001 total of 5,759, the pace was still healthy," the President said.

Average prices jumped to $285,323 in November, up 2% from October's $279,771, and up 11% from the $257,947 recorded in November of 2001. "The average figure was skewed upward slightly due to a number of multi-million dollar sales in the Central Area," the President commented," Nevertheless, we hope that as Toronto City Council considers its new budget they realize that the more they increase property taxes the more potential home-buyers they remove from the marketplace. Many first time buyers and people on a fixed income are right on the edge of being able to afford the carrying cost of a home. In a strong market like this, an increase in property taxes will make the challenge greater for these people."

Breaking down the total, 2,080 sales were reported in TREB's 28 West districts and averaged $255,608; 952 sales were reported in the 14 Central districts and averaged $406,540; 1,115 sales were reported in the 23 North districts and averaged $310,008; and 1,390 sales were reported in TREB's 21 East districts and averaged $226,967.

Neighbourhood Corner
Rosedale

The sales of multi-million dollar properties drove average prices in the Rosedale area (C-12) to $1,048,889 in November, a whopping 27% increase over the same month in 2001. Breaking down the total, the average price of detached homes in the area came in at $1,179,143 on the basis of 21 sales, up 20% from the same time last year. In addition, four condo-apartments sold for an average price of $714,500.

 

Dwelling Type
Sales
Median
     
Single Detached

2,661
$295,000 
Semi Detached

653

$240,000
 
 
 
Condo Townhouse

602
$190,000
Condo Apartment

1,154

$182,500
 
 
 
Link
165
$232,500
Attached/Row

266

$225,000
 
 
 
Co-op Apartment

33

$144,000
Detached Condo

3

$470,000

Toronto Area Housing Market Indicators

 

November 2001

November 2002
Change
Sales*

5,759

5,537

(-4%)
Average Price*

$257,947

$285,323

+11%
New Listings*

7,413

7,328

(-1%)
Active Listings**

17,478

14,937
(-15%)
*  Single Family Dwellings Only             **  Properties All Types including Single Family Dwellings
 
  

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