The Toronto resale housing market kicked off the year with sales up 24 per cent from 1995, Jerry England, President of the Toronto Real Estate Board (TREB), announced today. “It’s been a fabulous start to 1996,” commented Mr. England. “Interest rates are at their lowest levels in two years. And we currently have more than 21,000 residential properties listed for sale across the Toronto area.

Without a doubt — it’s a good time to buy.” Mr. England noted there were 2,222 sales of single-family dwellings last month, compared to 1,791 sales in January 1995. “At this rate, the indicators are pointing to a good February and March market.”

TREB’s 2,222 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $433,666,541, and averaged $195,169.  The median price was $166,000. Breaking down the total 880 sales were reported in TREB’s 27 West districts and averaged $178,666; 330 sales were reported in the 14 Central districts and averaged $276,620; 405 sales were reported in the 23 North districts and averaged $225,564; and 607 sales were reported in TREB’s 21 East districts and averaged $154,534. In addition to the sales of single-family dwellings, TREB Members reported 426 sales of properties of other types (P.O.T.) during January moving the total to 2,648. The dollar volume for properties of all types (P.A.T.) was $561,139,885, and the average price was $211,910.

Click to view Residential Market Update – January 1996