For the fourth month in a row, sales of single-family dwellings in the Toronto area have broken the 5,000 mark, Jimmy Lee, President of the Toronto Real Estate Board, announced today. TREB Members reported 5,410 sales in June, up seven per cent from 5,046 in June of last year, although down eight per cent from May of this year. The average price rose one per cent to $225,323 from $222,148 in May, and was up four per cent from $215,638 in June of last year. The median price fell marginally to $188,000 from $188,500 in May, and was up roughly two per cent from $185,000 during the same month last year. “There is still a lot of interest in our local resale market,” says Mr. Lee.

“If current economic conditions remain stable and consumer confidence remains strong, we should see a solid summer market.”

TREB’s 5,410 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,219,002,089, and averaged $225,323. The median price was $188,000. Breaking down the total 2,035 sales were reported in TREB’s 28 West districts and averaged $208,476; 878 sales were reported in the 14 Central districts and averaged $342,709; 1,022 sales were reported in the 23 North districts and averaged $232,180; and 1,475 sales were reported in TREB’s 21 East districts and averaged $173,943. In addition to the sales of single-family dwellings, TREB Members reported 1,074 sales of properties of other types (P.O.T.) during June moving the total to 6,484. The dollar volume for properties of all types (P.A.T.) was $1,515,114,077, and the average price was $233,670.

Click to view Residential Market Update – June 1998