| Thursday
February 05, 2004. |
| Toronto Residential Real Estate Market Report for January 2004 |
| 2004
off to Good Start with Over 4,000 Sales |
|
With 4,256 sales reported in the first month of the year, 2004 is off to a positive start, TREB President Cynthia Lai reported today. |
| “Last month's result is only the fourth time sales have broken the 4,000 level in a January," Ms. Lai. noted. "And although the figure is down somewhat from the record setting 4,869 sales reported in 2002, it is a signal that sales this year will remain active." |
| Prices rebounded in January over the close of 2003, rising four per cent to $295,989 over December's figure of $284,955. They were also up five per cent from the $281,292 recorded in January of 2003. "The upcoming year will see moderate price increases," Ms. Lai predicted,"...but these should not be much more than the rate of inflation." |
| Breaking down the total, 1,629 sales were reported in TREB's 28 West districts and averaged $276,264; 707 sales were reported in the 14 Central districts and averaged $376,586; 850 sales were reported in the 23 North districts and averaged $338,726; and 1,070 sales were reported in TREB's 21 East districts and averaged $238,815. |