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

Issue:  November 2004

November Breaks Record, 2004 Already Best Year Ever

Last month was a record November and, with 79,382 sales for the year-to-date, 2004 is already the best year the Toronto resale home market has ever experienced, TREB President Ron Abraham announced today.

“The TorontoMLS system recorded 6,301 single-family dwelling sales in November,” said the President. “This is an eight per cent increase over November 2003 (5,847 sales), which was the previous high-water mark for the month. With December still to come, we expect to break 80,000 total sales by the end of 2004, a first in Board history.”
 

Prices eased to $318,837 in November, a decline of two per cent from the previous month. This was about the same as the decline between October and November 2003, where prices fell one per cent to $301,612 from $304,844. In addition, total inventory came in at 20,273 active listings, up 14 per cent over November of 2003. “This indicates that we are entering a period of relative quiet around the Christmas holiday,” Mr. Abraham said. “However, we still expect another 4,000 to 5,000 sales before the end of the year.”
 

Breaking down the total, 2,401 sales were reported in TREB’s 28 West districts and averaged $296,689; 1,201 sales were reported in the 14 Central districts and averaged $413,445; 1,221 sales were reported in the 23 North districts and averaged $347,481; and 1,478 sales were reported in TREB’s 21 East districts and averaged $254,278.

Neighbourhood Corner
 

Orangeville

The Orangeville area (W-29) has seen 665 sales this year for an average of $224,307. The sales have increased seven percent over the same eleven month period in 2003, and the price is up 10 per cent over the $204,387 recorded at that time. Most (434) sales in Orangeville have been of detached homes, and these have averaged $253,405. There have also been 100 semi-detached properties sold for an average of $177,717.

Dwelling Type
Sales
Median
     
Single Detached

2,997
$338,000
Semi Detached

814

$277,125
 
 
 
Condo Townhouse

573

$219,000
Condo Apartment

1,354

$195,000
 
 
 
Link

157
$248,000
Attached/Row

379

$257,000
 
 
 
Co-op Apartment

22

$185,500
Detached Condo

5

$244,500

Toronto Area Housing Market Indicators

 

November 2003

November 2004
Change
Sales*

5,847

6,301

+8%

Average Price*

$301,612

$318,837

+6%
New Listings*

8,632

9,565

+11%
Active Listings**

17,827

20,273

+13%
*  Single Family Dwellings Only             **  Properties All Types including Single Family Dwellings
 
  

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