| Friday
July 3, 1998. |
| Toronto Residential Real Estate Market Report for June 1998 |
| June sales break 5,400 |
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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. |
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“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.” |
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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. |
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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. |