| Tuesday
March 2, 1999. |
| Toronto Residential Real Estate Market Report for February 1999 |
| 4,393 sales for February |
|
In February, TREB Members reported 4,393 single-family dwelling sales throughout the Greater Toronto Area, up 79 per cent from the 2,449 recorded in January; and up 1 per cent from the 4,341 of last year. |
| Prices also saw an upward swing in February. The average climbed 4 per cent to $221,354 from $211,723, and the median rose slightly, up 2 per cent to $188,000 from $185,000. |
| The Board’s inventory of active listings grew 14 per cent to 17,147 from the 15,045 recorded in January. However, inventory is still 7 per cent lower than the 18,453 active listings recorded last February. |
|
“We are pleased with the increased market activity in February,” commented TREB President Bill Palander. “I am optimistic that this is a positive indication of a strong spring market.” |
| Mr. Palander noted that consumer confidence remains strong and long-term mortgage rates are still very favorable. |
| TREB’s 4,393 single-family dwelling sales, which were reported throughout the Greater Toronto Area, totalled $972,409,959, and averaged $221,354. The median price was $188,000. |
| Breaking down the total 1,653 sales were reported in TREB’s 28 West districts and averaged $207,515; 663 sales were reported in the 14 Central districts and averaged $320,765; 823 sales were reported in the 23 North districts and averaged $241,394; and 1,254 sales were reported in TREB’s 21 East districts and averaged $173,886. |