The new year got off to a quick start in January, with 3,103 single-family-dwellings changing hands for an average price of $235,535, TREB President David Pearce announced today.

“The sales figure is up 2% from December, and up 15% from January 2000,” the president continued. “Not only that, average prices are up 2% from the same time last year. It’s too early to make predictions, but this certainly looks like good news for both Realtors and the homebuying public.” The President pointed to increased inventory levels as a possible explanation behind the surprisingly vigorous market. “Listing levels are up over 15% percent from last January, and with more desirable product on the market potential homebuyers are more likely to come off the fence.”

Breaking down the total 1,171 sales were reported in TREB’s 28 West districts and averaged $225,593; 478 sales were reported in the 14 Central districts and averaged $303,373; 618 sales were reported in the 23 North districts and averaged $263,612; and 836 sales were reported in TREB’s 21 East districts and averaged $189,921.

Click to view Residential Market Update – January 2001