| Wednesday
October 1, 1997. |
| Toronto Residential Real Estate Market Report for September 1997 |
| Strong market momentum maintained |
| The Fall market is off to a good start with Members of the Toronto Real Estate Board reporting 4,298 sales of single-family dwellings in September, up four per cent from 4,123 during the same month last year, Jerry England, TREB President, announced today. |
| Month over month, September’s results had 19 fewer sales than the 4,317 reported in August. The average price, however, rose about one per cent in September to $213,5678 from $211,785 in August. The median also rose slightly in September to $183,000 from $182,000. |
| “We’re continuing to see a healthy real estate market in the Toronto area,” commented Mr. England. “With a solid inventory of listings still available and today’s affordable mortgage rates, I expect this should continue through the Fall.” |
|
TREB’s 4,298 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $917,914,504, and averaged $213,567. The median price was $183,000. |
| Breaking down the total 1,625 sales were reported in TREB’s 28 West districts and averaged $201,262; 706 sales were reported in the 14 Central districts and averaged $292,235; 759 sales were reported in the 23 North districts and averaged $236,506; and 1,208 sales were reported in TREB’s 21 East districts and averaged $169,734. |