| Monday
November 1, 1999. |
| Toronto Residential Real Estate Market Report for October 1999 |
| Prices Up in October |
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In October, sales of single-family dwellings through the TREB MLS system declined a marginal 1 per cent, to 4,767 from the 4,818 recorded in September. Prices, on the other hand, rose slightly, up a single percentage point to $230,864 from the $228,431 recorded in the previous month. |
| “We will probably see a gradual slowing in the market over the next several weeks as we approach the holiday season,” TREB President Bill Palander commented. “Even so, sales are up 7 per cent from 1998, which should make this year our best ever.” |
| The President went on to say that the Board’s total inventory of listings stood at 16,215, down 6 per cent from September’s 17,280, and down 16 per cent from the 19,440 recorded in October of last year. “Historically, this figure is quite low, and indicates a shortage on the supply-side” Palander noted. “This means that the next few months will be difficult for would-be purchasers, who may find their buying options selling their home, though, as it means prices will more likely be going up than down.” |
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Breaking down the total 1,826 sales were reported in TREB’s 28 West districts and averaged $210,404; 740 sales were reported in the 14 Central districts and averaged $343,377; 846 sales were reported in the 23 North districts and averaged $249,902; and 1,355 sales were reported in TREB’s 21 East districts and averaged $185,105. |