| Tuesday
June 2, 1998. |
| Toronto Residential Real Estate Market Report for May 1998 |
| May best month in ’98 |
|
At 5,912, May sales of single-family dwellings were up just over 1 per cent from the 5,825 recorded in April, making last month the best reported so far this year by the Toronto Real Estate Board, Jimmy Lee, TREB President, announced today. |
| The average price fell modestly in May, down to $222,148 from $222,194 in April. The median also fell slightly, to $188,500 from $189,000. However, both the average and median were up from May of 1997. The average rose 2 per cent from last year’s $216,904, and the median rose 1 per cent from $186,500. |
| Active listings continued their gradual rise in May, to 22,521 from last month’s 22,174, an increase of about 2 per cent. However, they were still down 2 per cent from last May’s 23,090. |
|
TREB’s 5,912 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $1,313,341,371, and averaged $222,148. The median price was $188,500. |
|
Breaking down the total 2,224 sales were reported in TREB’s 28 West districts and averaged $202,121; 890 sales were reported in the 14 Central districts and averaged $332,453; 1,116 sales were reported in the 23 North districts and averaged $242,078; and 1,682 sales were reported in TREB’s 21 East districts and averaged $177,040. |