Monthly sales of single-family dwellings reported through the Toronto Real Estate Board reached 5,077 in October, TREB President Jerry England announced today.

“That’s up 18 per cent from the 4,298 reported in September, although down six per cent from the 5,398 recorded in October 1996.” Looking at prices, the median rose marginally to $184,000 from $183,000 in September, while the average dipped almost one percent to $211,791 from $213,567 the previous month. Looking at active listings, there was a five per cent decline to 19,889 from 21,060 in September. “We’re continuing to experience a pretty healthy market in the GTA,” commented Mr. England. “We are certainly hopeful that the Bank of Canada maintains low interest rates as we head into the final two months of 1997.”

TREB’s 5,077 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,075,263,900, and averaged $211,791. The median price was $184,000. Breaking down the total 1,938 sales were reported in TREB’s 28 West districts and averaged $192,525; 779 sales were reported in the 14 Central districts and averaged $307,375; 892 sales were reported in the 23 North districts and averaged $234,686; and 1,468 sales were reported in TREB’s 21 East districts and averaged $172,592. In addition to the sales of single-family dwellings, TREB Members reported 958 sales of properties of other types (P.O.T.) during October moving the total to 6,035. The dollar volume for properties of all types (P.A.T.) was $1,330,266,221, and the average price was $220,425.

Click to view Residential Market Update – October 1997