TREB Members reported 4,869 sales of single-family dwellings last month, making it the best January on record, TREB President David Pearce announced today.

“The 4,869 sales is up 19% from the 4,080 sales seen in January 1997, our previous best January, and up – 57% from last year’s 3,103 sales,” the President said. The news was just as cheery on the pricing front. “January’s average price was $262,819, up 11% from the $235,535 recorded in January of last year, and the first time since 1990 that prices have broken the $260,000 mark,” the president said. The president also noted that the Board’s total listing inventory in January was 14,397, down 9% from the 15,783 recorded last year. “We expect that the healthy price increases we are seeing will lure potential home-sellers into the marketplace, thus increasing the amount and diversity of product in the marketplace.

Breaking down the total, 1,851 sales were reported in TREB’s 28 West districts and averaged $241,942; 751 sales were reported in the 14 Central districts and averaged $368,459; 1,040 sales were reported in the 23 North districts and averaged $290,359; and 1,227 sales were reported in TREB’s 21 East districts and averaged $206,710.

Click to view Residential Market Update – January 2002