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Tuesday
March 3, 1998. |
| Toronto Residential Real Estate Market Report for February 1998 |
| 4,341 sales for February |
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In February, TREB Members reported 4,341 single-family dwelling sales throughout the Greater Toronto Area up 44 per cent from January, although down 16 per cent from February of last year. |
| Prices crept upwards in February. The average rose 4 per cent to $214,577 from $206,209, and the median rose slightly, up 1 per cent to $184,000 from $182,000. |
| Active listings rose in February, up 9 per cent to 18,453 from 16,203 in January, in line with last year’s 18,480. |
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“We are pleased to report increased market activity during the month of February,” commented TREB President Jimmy Lee. “Hopefully this is a sign that we are poised for a good spring market.” |
| Mr. Lee noted that condominiums continue to present an affordable ownership option with 820 sales of condo apartments averaging $143,510 and 408 sales of condo townhouses averaging $148,309 last month. |
| TREB’s 4,341 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $931,480,676, and averaged $214,577. The median price was $184,000. |
| Breaking down the total 1,711 sales were reported in TREB’s 28 West districts and averaged $199,809; 639 sales were reported in the 14 Central districts and averaged $313,516; 772 sales were reported in the 23 North districts and averaged $234,247; and 1,219 sales were reported in TREB’s 21 East districts and averaged $170,986. |