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For Further Information: 443-8152
1999 Sets Record
Toronto - Tuesday, January 4, 2000 --
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With 58,957 sales of existing homes recorded across the GTA, 1999 was the busiest year ever for the Toronto resale home market, incoming TREB President Marilyn Baubie reported today. "Sales were up 6 per cent from last year, and up about 2 per cent from the 58,014 recorded in 1997, which was our best previous performance," Baubie said.
The President went on to note that prices rose 5 per cent in 1999, to $228,372 from 1998's $216,815, and were up 15 per cent from the decade low of $198,150 seen in 1996. "After the sharp downturn of the early 90's, its good to see that homeowners are seeing the value of their properties appreciate again, and with our inventory at such low levels (12,498 total listings this month, down 18 per cent from last December's 15,321), this trend should continue for awhile yet."
Breaking down the total 1,161 sales were reported in TREB's 28 West districts and averaged $211,634; 548 sales were reported in the 14 Central districts and averaged $328,262; 655 sales were reported in the 23 North districts and averaged $253,283; and 907 sales were reported in TREB's 21 East districts and averaged $184,512.
Neighbourhood Corner:
OshawaWith infrastructure improvements like the widening of the 401, and a large stock of affordable housing, Oshawa (E-16) has become one of the GTA's hot-spots, recording 2,050 sales in 1999. Of these, 1,208 were single-detached homes, with a median price of $145,000, well below the city median of $240,000 to $245,000. In addition, Oshawa saw 273 townhouse sales in 1999. These ranged in price from $47,000 to $199,900, with an average price of $82,192 and a median of $78,800.
Single-Family Residential Breakdown
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Dwelling Type Single Detached Semi Detached Condo T.H. Condo Apt. Link Attached/Row Co-op Apt. Detached Condo |
Sales 1,581 309 350 755 99 153 20 4 |
Median $246,000 200,000 162,000 144,900 195,000 184,000 121,500 214,750 |
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December 1998 |
December 1999 |
% Change |
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Sales* |
3,272 |
3,271 |
(--%) |
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Sales (P.O.T.) |
818 |
844 |
(+3%) |
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New Listings* |
3,451 |
3,259 |
(-5%) |
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Active Listings** |
15,321 |
12,498 |
(-18%) |
* Single-Family Dwellings Only
** Properties All Types including Single-Family
Dwellings.
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GR 01/00