| Wednesday
Junel 4, 1997. |
| Toronto Residential Real Estate Market Report for May 1997 |
| Strong sales continue through May |
| Members of the Toronto Real Estate Board (TREB) reported 5,797 sales of single family dwellings during May marking the fourth consecutive month that area sales have surpassed 5,000. |
| “Resale market activity across the GTA remains strong,” TREB Vice President Jimmy Lee said today. He pointed to low interest rates as a key factor supporting current market strength adding: “We hope the new Liberal Government maintains them (low rates).” |
| He noted the condominium market continues to be an affordable option with 1,045 condominium apartment sales averaging $143,483 and 494 condominium townhouse sales averaging $151,851. |
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TREB’s 5,797 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,257,395,571, and averaged $216,904. The median price was $186,500. |
| Breaking down the total 2,117 sales were reported in TREB’s 27 West districts and averaged $200,135; 873 sales were reported in the 14 Central districts and averaged $309,272; 1,101 sales were reported in the 23 North districts and averaged $241,621; and 1,706 sales were reported in TREB’s 21 East districts and averaged $174,496. |