In January, TREB Members reported 2,694 sales of single-family dwellings across the Greater Toronto Area, TREB President Marilyn Baubie announced today.
“Sales were up 10 per cent from the 2,449 recorded last year, and the median price reached $200,000, its highest level since 1991,” Ms. Baubie reported. The average price remained stable at $229,758, up 8 per cent from last January’s $211,723, but down a little under 1 per cent from the $231,992 seen in December. Low inventory levels, caused by the blistering pace of sales, remained a concern, the President went on to note, with active listings at 12,965, down 14 per cent from January of 1999. “However, we expect that the modest price increases we have seen and should continue to see will coax more homeowners into the market.”
Breaking down the total 1,013 sales were reported in TREB’s 28 West districts and averaged $212,365; 440 sales were reported in the 14 Central districts and averaged $315,558; 491 sales were reported in the 23 North districts and averaged $260,812; and 750 sales were reported in TREB’s 21 East districts and averaged $182,585.