Best Month in History! 9275 Sales

Tuesday, July 6, 2004--The Toronto resale home market’s incredible string of record-breaking performances continued in June, with an all time high of 9,275 sales reported through the TorontoMLS system. “This extraordinary sales figure is up one per cent from last month, our previous record period, and up 15 per cent over June of 2003,” incoming TREB President Ron Abraham announced. “It is also the fourth month in a row during which TREB’s previous all time record has been broken.”

Meanwhile, affordability increased as June sale prices moderated. “The average fell to $316,510, a three per cent decline over May, while the median fell one per cent to $275,000,” Mr. Abraham noted. “Luckily, a healthy supply of listings (22,484 at month’s end) is keeping a cap on price increases.” Prices were up seven per cent over June of 2003.

Breaking down the total, 3,531 sales were reported in TREB’s 28 West districts and averaged $293,294; 1,599 sales were reported in the 14 Central districts and averaged $419,886; 1,847 sales were reported in the 23 North districts and averaged $343,112; and 2,298 sales were reported in TREB’s 21 East districts and averaged $258,871.

-30-

* Please note that TREB counts by business or sales days. In a 30 day month, there will usually be about 20 sales days, depending on when the weekends fall, holidays,
and so on.