| Thursday
March 04, 2004. |
| Toronto Residential Real Estate Market Report for February 2004 |
| Second
Best February Ever |
|
TREB Members recorded 6,060 sales in February, up two per cent from February of 2003 and the second best total for the month ever recorded. |
| "A number of factors that contributed to this result," noted TREB President Cynthia Lai. "The leap-year gave us an extra sales day in 2004 and last year's weather was even worse than in this February. Nevertheless, any month with over 6,000 sales is indicative of a very healthy market." |
| Prices trended higher in February, with the GTA-wide average coming in at $310,190, up five per cent over the January figure of $295,989, and up seven per cent from the $289,954 recorded during February of 2003. "This increase occurred across all four of TREB's four geographic areas," The President noted, "and was accompanied by a two per cent increase in the median price, which went to $265,000 from January's $259,978. However, it should be noted that not all districts or neighborhoods were equally active. Prices in the East end of Toronto, for example, rose one per cent over 2003." |
| Breaking down the total, 2,334 sales were reported in TREB's 28 West districts and averaged $287,714; 988 sales were reported in the 14 Central districts and averaged $419,686; 1,227 sales were reported in the 23 North districts and averaged $338,844; and 1,511 sales were reported in TREB's 21 East districts and averaged $250,045. |