The New Year began with TREB Members recording 4,403 single-family dwelling sales through the Toronto Real Estate Board MLS system, TREB President Ann Bosley announced today. “Though down nine per cent from last January’s 4,869 sales, this is still the second best start to the year the Toronto Residential Market has ever seen. In addition, we had a nice bounce-back from the holiday season; sales were up 23 per cent from December’s 3,589 figure.”
On the price front, the single-family average moved to $281,292 in January, up two per cent over December’s figure of $275,002, and up seven per cent from the $262,919 recorded in January of 2002. “The pattern we are seeing is similar to that of the last few years,” Mrs. Bosley said, “Modest price increases that should benefit potential vendors without locking the first time buyer out of the market.”
Breaking down the total, 1,665 sales were reported in TREB’s 28 West districts and averaged $256,094; 667 sales were reported in the 14 Central districts and averaged $398,107; 903 sales were reported in the 23 North districts and averaged $310,201; and 1,168 sales were reported in TREB’s 21 East districts and averaged $228,152.