With 4,256 sales reported in the first month of the year, 2004 is off to a positive start, TREB President Cynthia Lai reported today.

“Last month’s result is only the fourth time sales have broken the 4,000 level in a January,” Ms. Lai. noted. “And although the figure is down somewhat from the record setting 4,869 sales reported in 2002, it is a signal that sales this year will remain active.”

Prices rebounded in January over the close of 2003, rising four per cent to $295,989 over December’s figure of $284,955. They were also up five per cent from the $281,292 recorded in January of 2003. “The upcoming year will see moderate price increases,” Ms. Lai predicted,”…but these should not be much more than the rate of inflation.”

Breaking down the total, 1,629 sales were reported in TREB’s 28 West districts and averaged $276,264; 707 sales were reported in the 14 Central districts and averaged $376,586; 850 sales were reported in the 23 North districts and averaged $338,726; and 1,070 sales were reported in TREB’s 21 East districts and averaged $238,815.

Click to view Residential Market Update – January 2004