February 3, 2010 -- Greater Toronto REALTORS reported 4,986 transactions through the Multiple Listing Service (MLS) in January 2010. This result represented a large increase over the 2,670 sales in January 2009 when the home sales were in a recessionary trough. Last month’s sales were slightly higher than the January average in the five years preceding 2009.

“The GTA housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour. “Increasingly confident consumers moved to take advantage of affordable home ownership.”

The average home selling price in January 2010 climbed 19 per cent to $409,058, compared to 343,632 in the same month last year.

“Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The rate of sales and price growth will be lower in the second half of 2010.”

Median Price: In January, the median price was $350,000, from the $303,000 recorded during January of 2009.

Greater Toronto REALTORS? reported 87,308 MLS? transactions in 2009 – a 17 per cent increase over 2008. This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour. “As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the GTA. The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

The average home price in 2009 climbed four per cent to $395,460. The average price for December transactions was $411,931.

“Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”

Median Price: In December, the median price was $349,000, from the $305,000 recorded during December of 2008.

Greater Toronto REALTORS? reported 7,446 sales in November – slightly more than double the November 2008 result when GTA home sales had dipped markedly due to the economic downturn. Year-to-date sales were up 14 percent compared to the first 11 months of 2008.

“This year in the GTA home sales will be in line with the healthy levels experienced between 2004 and 2006,” said Toronto Real Estate Board President Tom Lebour. “Increased resale home transactions in the Toronto area and country-wide played a key role in pushing the Canadian economy out of recession in the third quarter.”

The average price for November transactions was up 14 per cent year-over-year to $418,460. The average price year-to-date was up four per cent to $394,464.

“Very strong annual growth rates for sales and average price should be expected through the first quarter of 2010, because we will be comparing the current recovery to the housing market decline experienced last winter,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “As we move into the spring, growth rates will move to more sustainable levels.”

In October 2009, Greater Toronto REALTORS reported 8,476 sales, up 64 per cent from October 2008. The average price for October transactions was $423,559 – up by 20 per cent compared to the same month last year.

"Strong sales growth has occurred across many property classes – from price ranges that would attract first-time buyers to luxury properties selling for over one million dollars," said TREB President Tom Lebour. “The highest rate of sales growth in October was experienced for properties selling for over $750,000. In contrast, luxury home sales declined at an above-average rate last year.”

Year-to-date sales, at 74,721, were up nine per cent compared to the first ten months of 2008. Average price, at $392,264 was up by almost three per cent.

"After a short dip in the winter, the average home price in the GTA has rebounded because sales have been high relative to listings," according to Jason Mercer, TREB's Senior Manager of Market Analysis. “Watch for listings to rebound in 2010 as home owners react to the strong sales and price growth experienced in the latter half of this year.”

October 5, 2009 -- In September 2009, Greater Toronto REALTORS reported 8,196 sales, up 28 per cent from September 2008. The average price for September transactions was $406,877 – up by 10 per cent compared to the same month last year.

“We have experienced an increasing rate of existing home price growth in the GTA as sales have continued outpace 2008 results,” said TREB President Tom Lebour. “Consumers have remained confident in ownership housing as a long-term investment.” Year-to-date sales, at 66,437 were up 4.5 per cent compared to the first nine months of 2008. Average price, at $388,417 was up by almost 1.5 per cent.

“Existing home sales will finish strong this year, pushing through the 80,000 mark and moving in line with some of the best years on record under the current TREB market area,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis.

Median Price: In September, the median price was $347,000, from the $322,000 recorded during September of 2008.

September 2, 2009 -- August 2009, Greater Toronto REALTORS reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year.

“The increase in demand for existing homes has been widespread across different housing types and price ranges,” said TREB President Tom Lebour. “This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change.”

Year-to-date sales, at 58,421 were up two per cent compared to the first eight months of 2008. Average price, at $385,978 was up by less than one-half of one per cent. “We have heard more positive economic news lately. The improved housing market has played a key role,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have helped other sectors of the economy through home buyers’ spending on things like financial and legal services, moving, renovations and home furnishings.”

Median Price: In August, the median price was $338,000, from the $318,000 recorded during August of 2008.

TORONTO - July 6, 2009 -- In June 2009, Greater Toronto REALTORS? reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700.

“The record result in June is testament to the fundamentally sound housing market in the GTA,” said TREB President Tom Lebour. “An increasing number of households have been confident in purchasing a home in the region’s affordable and diverse resale housing market.”

The average price for June transactions was $403,972 – up by two per cent compared to the same month last year.

“The re-emergence of seller’s market conditions has exerted upward pressure on home prices,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “Look for sales to remain high relative to listings in the second half of the year. This will keep home prices growing.”

Seasonally adjusting TREB MLS? data removes recurring seasonal trends observed each year. For example, MLS? sales are highest in late spring each year and lowest in the winter months. Removing the recurring seasonality, allows for the analysis of a meaningful trend reflecting actual changes in market conditions. By multiplying the monthly seasonally-adjusted figure by 12, creating an annual rate, we can compare how the current month relates to historical annual figures.

Median Price: In June the median price was $345,000, from the $335,250 recorded during June of 2008.

TORONTO - May 6, 2009 -- In April 2009, Greater Toronto REALTORS? reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two-thirds compared to January’s ten-year low.

“Conditions in the resale housing market have improved markedly this Spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year.

“The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “The level of sales relative to new listings increased in April.”

Seasonally adjusting TREB MLS? data removes recurring seasonal trends observed each year. For example, MLS? sales are highest in late spring each year and lowest in the winter months. Removing the recurring seasonality, allows for the analysis of a meaningful trend reflecting actual changes in market conditions. By multiplying the monthly seasonally-adjusted figure by 12, creating an annual rate, we can compare how the current month relates to historical annual figures.

Median Price: The median price in April was $330,000 from the $334,950 recorded in April of 2008.

TORONTO - April 6, 2009 -- In March 2009, Greater Toronto REALTORS reported 6,171 sales – down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 – down less than five per cent from the same month last year.

“The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months,” commented TREB President Maureen O’Neill.

“In fact, over the past two months, the situation in the housing market has improved.”

The seasonally-adjusted annual rate of sales increased to 65,600 in March – up 36 per cent from the ten-year low reached in January.

“Sales in March increased at a rate over and above what would be expected from the normal spring-time bump,” said Jason Mercer TREB’s Senior Manager of Market Analysis. “A greater number of households have taken advantage of increased affordability in the housing marketplace.”

Seasonally adjusting TREB MLS data removes recurring seasonal trends observed each year. For example, MLS sales are highest in late spring each year and lowest in the winter months. Removing the recurring seasonality, allows for the analysis of a meaningful trend reflecting actual changes in market conditions. By multiplying the monthly seasonally-adjusted figure by 12, creating an annual rate, we can compare how the current month relates to historical annual figures.

Median Price: The median price in March was $317,500 from the $326,000 recorded in March of 2008.

TORONTO - Thursday, March 5, 2009 -- Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year.

“A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties,” said Toronto Real Estate Board President Maureen O’Neill.

On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively. The housing market is seasonal. Traditionally, in the first half of every year, sales and average price climb to their highest levels in late spring before trending lower from July onward.

“While the economic downturn has had an impact, the GTA housing market is resting on a solid foundation. Current home prices and mortgage rates suggest that GTA homes have become more affordable on average,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater number of home buyers could take advantage of this affordability once their positioning in the economy becomes more certain.”

Typically the spring real estate market tends to experience more activity and with the Canadian economy experiencing a period of low mortgage rates and strong immigration, this trend could continue. According to Statistics Canada, Canada welcomed 247,202 permanent residents in 2008, 70,000 more than in 1998, and well within the government’s planned range of 240,000 to 265,000 new permanent residents for 2009.

The TREB President pointed out that Greater Toronto REALTORS? are an integral part of the real estate transaction process. “TREB Members are uniquely positioned to help home buyers and sellers adapt to changing market conditions,” added Ms. O’Neill. “In addition, TREB continues to advocate public policies that do not threaten affordability but support home ownership in the GTA such as lower taxation and less regulation.”

Median Price: The median price in February was $312,900 from the $324,000 recorded during February of 2008.

TREB Members reported 2,670 sales in January from the 5,075 sales reported in the first month of 2008. Of these, 1,106 transactions took place in the City of Toronto compared to 2,128 in January 2008. In the surrounding “905” area, 1,564 sales were recorded, from 2,947 last year.

The GTA housing market has not been immune to the economic slowdown in Canada. Some potential home buyers were less-certain about their positioning in the economy over the past year. Until the economy rebounds, and along with it consumer confidence, the number of existing home sales will be more moderate in comparison to the average over the last ten years.

Home prices also moderated in January. The average MLS selling price dipped to $343,632. The average price was $364,415 in the City of Toronto, from $404,202 in 2008. In the surrounding regions (“905” area code), the average price was $328,935 from $352,965 last year. Buyers have experienced more choice in the existing home marketplace. Lower selling prices have resulted.

It should be noted that the GTA housing market has followed the broader economic slowdown, but was not a cause of the downturn. Home prices remained affordable throughout the new millennium. The average family can still? qualify for a mortgage on the average priced home. This remains the case today. Given that we are not facing an early-1990s-style affordability crisis, the rebound in the housing market will likely be quick once economic recovery takes hold.

Median Price: The median price in January was $303,000 from the $319,000 recorded during January of 2008.

TORONTO - Thursday, March 5, 2009 -- Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year.

“A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties,” said Toronto Real Estate Board President Maureen O’Neill.

On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively. The housing market is seasonal. Traditionally, in the first half of every year, sales and average price climb to their highest levels in late spring before trending lower from July onward.

“While the economic downturn has had an impact, the GTA housing market is resting on a solid foundation. Current home prices and mortgage rates suggest that GTA homes have become more affordable on average,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater number of home buyers could take advantage of this affordability once their positioning in the economy becomes more certain.”

Typically the spring real estate market tends to experience more activity and with the Canadian economy experiencing a period of low mortgage rates and strong immigration, this trend could continue. According to Statistics Canada, Canada welcomed 247,202 permanent residents in 2008, 70,000 more than in 1998, and well within the government’s planned range of 240,000 to 265,000 new permanent residents for 2009.

The TREB President pointed out that Greater Toronto REALTORS? are an integral part of the real estate transaction process. “TREB Members are uniquely positioned to help home buyers and sellers adapt to changing market conditions,” added Ms. O’Neill. “In addition, TREB continues to advocate public policies that do not threaten affordability but support home ownership in the GTA such as lower taxation and less regulation.”

Median Price: The median price in February was $312,900 from the $324,000 recorded during February of 2008.

TREB Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today. “Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006.”

The average price in December of 2008 came in at $361,415, compared to $394,931 last year, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.

The City of Toronto (416) recorded 1,105 sales in December, compared to 2,302 in December 2007 and 1,827 in December of 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006.

The average price in the city was $387,482 compared to the $425,842 recorded in December of 2007 and the $350,139 recorded in December 2006. For all of 2008 the average was $410,271. In 2007 the comparable figure was $412,480, and in 2006 $378,776.

The 905 area saw 1,472 sales in December, from 2,344 in December of 2007 and 2,620 in December of 2006. For all of 2008, there were 44,674 sales in this region, versus 54,141 in 2007 and 48,680 in 2006.

The average price in the 905 was $341,847 in December, compared to $360,307 in 2007 and $326,509 in 2006. For all of 2008, the average was $358,665, as compared to $350,092 in 2007 and $332,976 in 2006.

Breaking down the total Numbers into TREB Areas

• 993 sales were reported in TREB's 28 West districts and averaged $338,855;
• 473 sales were reported in the 14 Central districts and averaged $479,095;
• 491 sales were reported in the 23 North districts and averaged $381,975;
• 620 sales were reported in TREB's 21 East districts and averaged $291,488.

TREB Members recorded 3,640 sales in November 2008 from the 7,313 sales recorded during the same period last year in the GTA, TREB President Maureen O’Neill announced today.

The average GTA price in November 2008 was $368,582. During the same period last year, the TorontoMLS system recorded an average of $393,747, and in November of 2006 overall GTA prices averaged $355,727.

The 2008 year-to-date sales for the GTA was recorded at 72,086 from last year’s 88,695. The year-to-date GTA average price was $379,489 from last year’s $375,445

Within the 416 area (City of Toronto) there were 1,523 sales during November 2008. During the same month last year, 3,426 sales were recorded. The average price in the 416 area was $390,225 compared to $433,859 in November 2007 and $381,188 in 2006.

In the City of Toronto, 28,806 sales have been recorded year-to-date for 2008 from last year’s 36,804 during the same time period. The year-to-date 2008 average price in the 416 area is $411,155 from last year’s $411,640.

The 905 Region recorded 2,117 sales last month, compared to the 3,887 sales transacted during November of 2007. The average price in the 905 Region was $353,012 last month from $358,391 in November of 2007 and $335,522 in November 2006.

Year-to-date sales in the 905 Region for 2008 were 43,280 from the 51,891 recorded during the same period in 2007. The year-to-date average price in the 905 Region for 2008 was $359,245 from $349,774 in 2007.

Breaking down the total Numbers into TREB Areas

• 1,453 sales were reported in TREB's 28 West districts and averaged $350,199;
• 629 sales were reported in the 14 Central districts and averaged $473,346;
• 651 sales were reported in the 23 North districts and averaged $410,253;
• 907 sales were reported in TREB's 21 East districts and averaged $295,470.

TREB Members reported 5,155 sales in October, down 35 per cent from the 7,915 sales reported in October of 2007, and also down 25 per cent from the 6,876 sales reported during October 2006.

Within the City of Toronto, 2,136 sales were recorded. This was down 38 per cent from the 3,455 sales recorded in October of last year. In the 905 suburbs, however, the 3,019 sales recorded were down 32 per cent from October 2007's figure of 4,460.

GTA-wide, prices declined 10 per cent to $352,974 from last October's average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to region.The City of Toronto average was $376,896, down 13 per cent from the $434,022 recorded during the same month in 2007, and down about three per cent from the $386,807 recorded in October 2006. Meanwhile, the average for the City's 905 suburbs was $336,049.This is down eight per cent from the $364,142 recorded last October, and up one per cent from the $333,166 recorded in October 2006.

Breaking down the total Numbers into TREB Areas

• 2,064 sales were reported in TREB's 28 West districts and averaged $335,329;
• 892 sales were reported in the 14 Central districts and averaged $450,437;
• 946 sales were reported in the 23 North districts and averaged $382,032;
• 1,253 sales were reported in TREB?s 21 East districts and averaged $290,719.

TREB Members reported 6,424 sales of single family dwellings in September, down about six per cent from the 6,866 sales recorded during September of last year, Toronto Real Estate Board President Maureen O'Neill announced today.

However, the 6,424 sales reported for September 2008 is down just three per cent from the 6,622 figure recorded in September 2006. To keep in perspective, September 2007's 6,866 sales was the second best figure ever recorded for that month.

The overall transaction figure for September masks significant regional differences. Within the City of Toronto sales registered 2,546, down 11 per cent from the 2,854 figure recorded in September of 2007 but down five per cent from the 2,680 recorded during the same month in 2006. In the 905 suburbs, the 3,878 sales that went through TorontoMLS were down three per cent from last year's 4,012 sales, and down two per cent over the 2006 total of 3,942 sales.

Overall, GTA prices declined three per cent from their year-ago levels to an average of $368,549 from the September 2007 figure of $380,132. As with sales, the GTA's regions fared quite differently on average price during the month. The average within The City of Toronto, at $393,647, fell six per cent from September 2007's $420,182 but rose six per cent from the $371,682 recorded in the same month of 2006. Meanwhile prices in the 905 districts, at $352,071, rose marginally from the $351,641 recorded in 2007, and was up five per cent from 2006 September figure of $333,818.

Breaking down the total Numbers into TREB Areas

• 2,539 sales were reported in TREB's 28 West districts and averaged $352,249
• 1,067 sales were reported in the 14 Central districts and averaged $464,397
• 1,220 sales were reported in the 23 North districts and averaged $407,424
• 1,598 sales were reported in TREB's 21 East districts and averaged $300,772

The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.

The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.

In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.

In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.

“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.

With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.

In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago. Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007. The 905 Region’s 3,881 sales last month were 19 per cent off the August 2007 figure of 4,816 but declined nine per cent from two years ago, when 4,270 sales were recorded.

“Despite August’s moderate sales, the 57,364 transactions that have occurred this year are within 14 per cent of the 67,146 figure recorded a year ago,” said Ms. O’Neill. “In light of the fact that 2007 was a record year, our current market can certainly be characterized as stable.” There are currently 25,076, properties available for sale in the GTA, which represents a 31 per cent increase from the 19,145 active listings a year ago. Increased choice has resulted in properties remaining on the market for an average of 36 days compared to 33 days a year ago. Several neighbourhoods throughout the GTA experienced increased sales activity last month compared to August 2007.

TREB Members reported 7,806 sales of single-family dwellings in July, continuing a healthy but not record setting pace into the summer. “Even though GTA sales were down 12 per cent from the best-ever July 2007 figure of 8,912, sales were up 10 per cent from July 2006 (7,082),” said TREB President Maureen O’Neill.

July 2007 saw a 26 per cent increase in sales over the 7,082 recorded in July 2006. Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July’s 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.

In the 905 suburbs sales declined 11 per cent, to 4,674 in July 2008 from 5,272 last July, but increased 10 per cent from the 4,230 sales recorded in July 2006. Sales from July 2007 increased 25 per cent over July 2006.

Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.

Once again, price movements differed depending on the part of the GTA involved. Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006. In the 905 municipalities surrounding the City of Toronto, however, the average price climbed almost three per cent to $355,401 in July 2008 from the July 2007 figure of $345,967 and up eight per cent from $329,644 recorded during July 2006.

Breaking down the total Numbers into TREB Areas

• 3,045 sales were reported in TREB's 28 West districts and averaged $352,956
• 1,349 sales were reported in the 14 Central districts and averaged $409,865
• 1,519 sales were reported in the 23 North districts and averaged $408,815
• 1,893 sales were reported in TREB's 21 East districts and averaged $301,658

TREB Members reported 8,600 sales in June, TREB President Maureen O’Neill announced today. “Sales were down 18 per cent from the 2007 total of 10,451, which was the best performance ever for that month,” noted the president. “Nevertheless, the 8,600 figure is the fifth best June on record, and indicative of an active, healthy market.”

Sales within the City of Toronto totaled 3,481, down 18 per cent from the 4,238 recorded in June 2007. Sales within the 905 suburbs, at 5,119, were also down 18 per cent from the 6,213 recorded during the same period last year.

On the pricing front, June’s GTA average came in at $395,866. This was up four per cent over the $381,963 recorded during June of 2007. Prices increases were roughly equivalent in both the City of Toronto and the surrounding suburbs. Within Toronto, prices averaged $433,082, up three per cent over the $421,139 recorded in June of 2007. Within the 905 suburbs, the average price came in at $370,559, up four per cent over the $355,240 recorded during the same period last year.

“With summer coming, and a 22 per cent increase in inventory to nearly 27,000 this June over last, the market is slowly shifting towards balance after several years of favouring sellers,” said the President.

Breaking down the total Numbers into TREB Areas

• 3,357 sales were reported in TREB's 28 West districts and averaged $374,043
• 1,483 sales were reported in the 14 Central districts and averaged $518,471
• 1,697 sales were reported in the 23 North districts and averaged $430,498
• 2,063 sales were reported in TREB's 21 East districts and averaged $314,755

TREB Members saw 9,411 sales of single family dwellings in May, TREB President Maureen O’Neill announced today. “While off last year’s pace, a 9,000 plus sales month is certainly indicative of a healthy market,” said the President.

Prices trended upward on a year-over-year basis, with the overall average going to $398,148, up four per cent over the May 2007 figure of $382,787.

The City of Toronto experienced a three per cent increase, to $434,271 over last May’s $422,163. The 905 suburbs averaged $374,629, up five per cent over the same time last year, when the corresponding figure was $355,341.

“Furthermore, inventory has increased 15 per cent to 27,267 listings over May of 2007. This is good news for potential homebuyers as it should keep year-over-year price increases to the low single digits.”

Sales GTA-wide declined 16 per cent from May of 2007, which saw 11,146 sales, a record month. However, this overall decline masked significant regional variations. Within the City of Toronto, sales fell 19 per cent to 3,711 from last May’s figure of 4,578. Within the 905 suburbs, on the other hand, the decline was a less pronounced 13 per cent, to 5,700 sales from last May’s figure of 6,568.

Breaking down the total Numbers into TREB Areas

• 3,626 sales were reported in TREB's 28 West districts and averaged $377,098
• 1,606 sales were reported in the 14 Central districts and averaged $528,938
• 1,938 sales were reported in the 23 North districts and averaged $430,240
• 2,241 sales were reported in TREB's 21 East districts and averaged $310,724

April statistics show that 8,762 houses sold in the Greater Toronto Area. “The market continues to experience a supply and demand situation and to-date it remains a sellers market," said TREB President Maureen O’Neill.

The GTA market was down 7 per cent from last April’s record 9,452 transactions. However, it is showing signs for a healthy 2008 compared to the diminished activity during the first quarter of 2008.

The sales pace however, did not take place evenly throughout the GTA. With 3,467 transactions in the City of Toronto, sales were down 10 per cent from a year ago. The 905 region was down five per cent from April 2007 sales, with 5,295 homes changing hands.

Prices continued to appreciate last month, to a GTA average of $398,687, up five per cent from last April's $379,025. The average price in the City of Toronto was $446,781, up six per cent from April 2007. The 905 regions average price of $367,196 increased five per cent from a year ago

“For more than a decade, real estate has served as the economy’s engine,” said Ms. O’Neill. “It’s encouraging to see that consumers are continuing to put their faith in real estate as an excellent long-term investment.”

Breaking down the total Numbers into TREB Areas

• 3,398 sales were reported in TREB's 28 West districts and averaged $372,575
• 1,531 sales were reported in the 14 Central districts and averaged $539,133
• 1,768 sales were reported in the 23 North districts and averaged $429,262
• 2,065 sales were reported in TREB's 21 East districts and averaged $311,350

Low inventory levels kept sales brisk but well off record levels, TREB President Maureen O'Neill announced today. "With 6,631 transactions recorded during March, the overall Greater Toronto Area resale market was down 22 per cent from the 8,518 sales of March 2007.

Since inventory, at 20,533 listings, fell six per cent between these two time periods, a portion of this result can be attributed to a lack of suitable product. And this lack of product was at least partially caused by the severe winter weather that kept both buyers and sellers on the fence during the first half of the month."
Sales were not evenly distributed across the Greater Toronto Area. In the City of Toronto (416 area code), they decreased 27 per cent to 2,527 from last March. However, the 905 suburbs saw only an 18 per cent decline, to 4,104 sales. Overall, average prices rose four per cent in the GTA to $380,338 over March of 2007. Within the City of Toronto proper, however, the average, at $404,361, increased only two per cent over the $394,199 recorded during the same period last year. Furthermore, City of Toronto districts bordering the 905 averaged $347,882, up less than one per cent from the same period last year.
Breaking down the total Numbers into TREB Areas

• 2,545 sales were reported in TREB's 28 West districts and averaged $360,524
• 1,114 sales were reported in the 14 Central districts and averaged $481,115
• 1,390 sales were reported in the 23 North districts and averaged $424,742
• 1,582 sales were reported in TREB's 21 East districts and averaged $302,235

While snow fell in almost record amounts, Toronto Real Estate Board Members recorded a respectable 6,015 sales during the month of February, TREB President Maureen O'Neill announced today.

"While sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase substantially as the GTA eases into Spring."
Prices rose in February, with the average climbing to $382,048, up four per cent from the $367,687 recorded in February of last year. Days-on-Market stood at 30 days, and the list-to-sale price ratio was 99 per cent.
Activity within the City of Toronto generally matched that of the broader GTA. Sales moderated 14 per cent in the city to 2,310 from last year's figure of 2,697. Prices rose two per cent to $424,235.
Breaking down the total Numbers into TREB Areas

• 2,358 sales were reported in TREB's 28 West districts and averaged $357,884
• 1,017 sales were reported in the 14 Central districts and averaged $522,480
• 1,185 sales were reported in the 23 North districts and averaged $409,155
• 1,455 sales were reported in TREB's 21 East districts and averaged $300,975

A strong performance within TREB's Central districts drove the Toronto area real estate market to a healthy 5,073 sales in January, off just two per cent from last year's record performance, President Maureen O'Neill announced today.
"While sales were strong, price increases remained modest, with the average rising six per cent to $374,449," said Ms. O'Neill. "There is clearly still a place for the first-time buyer in today's resale market."

Breaking down the total Numbers into TREB Areas

• 1,940 sales were reported in TREB's 28 West districts and averaged $351,594
• 945 sales were reported in the 14 Central districts and averaged $485,259
• 966 sales were reported in the 23 North districts and averaged $410,289
• 1,224 sales were reported in TREB's 21 East districts and averaged $296,838

A healthy 4,646 sales in December propelled 2007 sales to a record setting 93,193 sales, TREB President Maureen O'Neill announced today. "Year-end sales are up 12 per cent over last year and up 11 per cent over the 84,145 recorded during 2005, the Toronto market's previous best-ever annual performance."

On a year-over-year basis, prices rose seven per cent to $376,236 from last year's $351,941. The annual time-on-market figure stood at 32 days versus 2006's figure of 34 days, meaning that over the course of the past two years it has taken homes within the GTA barely a month to sell on average.

Breaking down the total Numbers into TREB Areas

• 1,756 sales were reported in TREB's 28 West districts and averaged $357,711
• 1,057 sales were reported in the 14 Central districts and averaged $531,366
• 771 sales were reported in the 23 North districts and averaged $420,508
• 1,062 sales were reported in TREB's 21 East districts and averaged $302,113

A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O'Neill announced today. "We have already exceeded the 84,145 sales recorded during 2005, which was our previous record," said the President. "By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been."

Prices were almost unchanged in November, with the average at $393,747, down marginally from the $394,646 recorded in the previous month. It was up 11 per cent over the $355,727 recorded during November 2006. Meanwhile, days-on-market came in at 32, and the list-to-sale price ratio was 98 per cent.

Breaking down the total Numbers踀? into TREB Areas

• 2,725 sales were reported in TREB's 28 West districts and averaged $362,272
• 1,529 sales were reported in the 14 Central districts and averaged $519,841
• 1,354 sales were reported in the 23 North districts and averaged $417,967
• 1,705 sales were reported in TREB's 21 East districts and averaged $311,738

TREB Members recorded 7,915 transactions of single-family homes in October, an all time record for the month, TREB President Maureen O'Neill announced today. "Sales were up 15 per cent over the 6,876 figure recorded in October of 2006, and up about 10 per cent over the 7,227 transactions that took place in October 2003, which was our previous record."

"There is every indication that 2007 will be a banner year for resale housing activity in the Greater Toronto Area," said Ms. O'Neill. "The effects of the City of Toronto's new land transfer tax will definitely be felt in 2008 but we are also confident that consumers will continue to see the value of real estate as a solid long-term investment."

Prices rose in October, with the average climbing four per cent to $394,646 over September's $380,132, and up 11 per cent over the $356,423 recorded in October of 2006.

Breaking down the total Numbers into TREB Areas

• 2,964 sales were reported in TREB's 28 West districts and averaged $367,139
• 1,602 sales were reported in the 14 Central districts and averaged $522,800
• 1,555 sales were reported in the 23 North districts and averaged $415,071
• 1,794 sales were reported in TREB's 21 East districts and averaged $307,950

September put in another excellent performance, with 6,866 single family units changing hands through the TorontoMLS system, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today. “This figure was up four per cent from last year (6,622 sales), and off only six per cent from the record 7,326 sales recorded during September of 2005.” Year-to-date sales, at 73,827, were up 12 per cent over 2006. “They are also,” the President went on to note, “up 11 per cent over the first nine months of 2005, which turned out to be the best year ever recorded in the history of TREB.”

Prices rebounded in September, rising five per cent over August to $380,132. On a year-over-year basis they were up also up five per cent, to $371,848 from the $352,318 recorded during the first nine months of 2006.

Breaking down the total Numbers into TREB Areas

• 2,613 sales were reported in TREB's 28 West districts and averaged $351,328
• 1,298 sales were reported in the 14 Central districts and averaged $501,419
• 1,380 sales were reported in the 23 North districts and averaged $404,663
• 1,575 sales were reported in TREB's 21 East districts and averaged $306,467

August 2007 became the fifth record-setting month in a row, with 8,059 sales reported by TREB Members throughout the Greater Toronto Area, TREB President Donald Bentley announced today. "This figure is up 15 per cent over August of last year, and up seven per cent over the 7,498 sales recorded during the same month in 2005, which was the previous "best ever" performance for the month of August," said the President. "Summer of 2007 has been hands-down the most active holiday season for the resale market in the history of the Toronto Real Estate Board."

While sales roared ahead, prices remained affordable in August, with a recorded average of $361,890. This figure is up seven per cent over the $338,192 recorded during August of 2006. "While the last decade has seen five record breaking years, and a good possibility of a sixth in 2007, year-over-year prices increases have remained in the single digits. This kind of activity is sustainable for a long time."

Breaking down the total Numbers into TREB Areas

• 3,057sales were reported in TREB's 28 West districts and averaged $343,493
• 1,444 sales were reported in the 14 Central districts and averaged $453,718
• 1,653 sales were reported in the 23 North districts and averaged $403,539
• 1,905 sales were reported in TREB's 21 East districts and averaged $285,665

TREB members reported 8,912 total sales in July, 26 percent ahead of the 7,082 sales recorded in July of 2006, and an all time record for the month.

Furthermore, July makes the fourth month in a row that sales have broken monthly records. "The local resale market is as healthy as it has ever been," said TREB President Donald Bentley. "Not only are we running 13 per cent ahead of last year's January - July total of 52,682, we are running 14 per cent ahead of the seven month total for 2005, which became our best year ever."

While sales have set a blistering pace, prices eased in July, down four per cent to $366,012 from June's average of $381,963. "This decline is seasonal in nature," said the President. "Prices tend to ease in July/August as potential home-buyers and sellers go on holiday." He went on to note that the year-to-date average, at $372,326, was up five per cent over the same time-frame in 2006.

Breaking down the total Numbers into TREB Areas

• 3,424 sales were reported in TREB's 28 West districts and averaged $347,978
• 1,590 sales were reported in the 14 Central districts and averaged $470,464
• 1,797 sales were reported in the 23 North districts and averaged $392,360
• 2,101 sales were reported in TREB's 21 East districts and averaged $293,819

Last month the Toronto Real Estate Market recorded 10,451 sales for the best June performance ever, Toronto Real Estate Board President Donald Bentley announced today. "June's figure was up almost 20 per cent over the 8,730 sales recorded during the same month in 2006, and down only slightly (six per cent) from May's best-ever figure of 11,146 sales. To get some idea of the current strength of the market: there have been more sales in the last two months (21,597) than occurred in all of 1977 (20,512), thirty years ago this year."

While the sales pace remained brisk, average prices declined marginally (less than one per cent) from May to $383,963. The year-to-date average was $373,719, up five per cent over the first six months of 2006 ($356,977).

"Price increases remain only modest," noted the President. "Inventory, at 21,789, is robust enough to keep a lid on upward inflation. The current market is still accessible to first-time buyers, and should continue in this mode for the foreseeable future."

Breaking down the total Numbers into TREB Areas

• 3,936 sales were reported in TREB's 28 West districts and averaged $351,513
• 1,819 sales were reported in the 14 Central districts and averaged $513,491
• 2,248 sales were reported in the 23 North districts and averaged $406,565
• 2,448 sales were reported in TREB's 21 East districts and averaged $302,558

With an astonishing 11,146 sales in May, the Toronto Real Estate market put in its best performance since records have been kept, President Dorothy Mason announced today. "The Toronto Real Estate Board has been tracking the local housing market for over forty years, and there has never been a month that even approaches this level of activity," Ms. Mason stated. "May was up 18 per cent over April, our previous record month (9,452 sales), and also up 18 per cent over May of 2006 (9,434 sales), which now ranks as the third highest sales total recorded."

Ms. Mason further noted that, according to statistics compiled by the Canadian Real Estate Association, every home sale generates about $27,000 in economic activity (for renovations, furniture purchases, and so forth) over and above direct expenditures involved in the transaction. "This means that Realtors? and their clients have contributed over $300 million to the local economy in ancillary costs last month alone."

However, while sales sky-rocketed, price increases were restrained, with the average rising a mere five per cent to $382,787 from the $365,537 recorded during May of 2006.

Breaking down the total Numbers into TREB Areas

• 4,175 sales were reported in TREB's 28 West districts and averaged $356,836
• 2,038 sales were reported in the 14 Central districts and averaged $506,172
• 2,323 sales were reported in the 23 North districts and averaged $408,391
• 2,610 sales were reported in TREB's 21 East districts and averaged $305,168

With 581 sales reported on April 30, the highest single day total ever documented, April's total transactions reached an astounding 9,452, the best single-month total ever recorded, TREB President Dorothy Mason announced today. "The Greater Toronto Area's resale housing market has showed sustained strength and these phenomenal numbers bode well for the remainder of this year's spring market."

Average prices climbed three per cent in April, to $379,025 from last April's $366,683. "Despite the torrid sales pace," Ms. Mason said.

"Overall price increases are holding at marginally above the inflation rate, which means that potential first-time buyers are not being pushed out of the market."

Breaking down the total Numbers into TREB Areas

• 3,591 sales were reported in TREB's 28 West districts and averaged $351,415
• 1,696 sales were reported in the 14 Central districts and averaged $517,418
• 1,898 sales were reported in the 23 North districts and averaged $401,355
• 2,267 sales were reported in TREB's 21 East districts and averaged $300 ,530

Prices increased moderately in March, with the average up three per cent over 2006 to $365,285. "Prices are rising above the rate of inflation (currently about two per cent), but not so rapidly that first-time buyers will be pushed out of the market," said TREB President Dorothy Mason.

During last month TREB Members reported 8,518 sales of single-family dwellings across the GTA. "While down modestly (two per cent) over last year's total of 8,707, any result over 8,000 must be considered a strong performance," noted the President, "We expect a similarly robust showing from the remainder of the spring market."

Breaking down the total Numbers into TREB Areas

• 3,233 sales were reported in TREB's 28 West districts and averaged $343,475
• 1,521 sales were reported in the 14 Central districts and averaged $471,804
• 1,706 sales were reported in the 23 North districts and averaged $400,392
• 2,058 sales were reported in TREB's 21 East districts and averaged $291 ,721

TREB Members reported 6,772 sales in February, an increase over February 2006 (6,756 sales) and the second best total for this month ever recorded, TREB President Dorothy Mason announced today. "While the weather last month may have been cold, Toronto's resale housing market remained hot," noted Ms. Mason. "And while it is too early to make predictions, it is clear from the start of 2007 that the spring season is likely to produce sales numbers at east comparable to those of the past several years, which have been record or near-record performances."

Meanwhile, average prices climbed four per cent over the previous month to $368,687 as sales activity accelerated. They were also up four per cent from the February 2006 figure of $353,928. The average time-on-market was a torrid 35 days.

Breaking down the total Numbers into TREB Areas

• 2,522 sales were reported in TREB's 28 West districts and averaged $342,060
• 1,224 sales were reported in the 14 Central districts and averaged $504,381
• 1,395 sales were reported in the 23 North districts and averaged $389,306
• 1,631 sales were reported in TREB's 21 East districts and averaged $290,392

The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB President Dorothy Mason announced today. "This figure is up 13 per cent over last January, and up six per cent over the 4,869 sales recorded in January of 2002, which was the previous record for the month."

Meanwhile, average prices climbed in January to $353,724, up five per cent over December and up six per cent over the $332,687 recorded in January 2006. "While one shouldn't read too much into a single month's result," the President said. "January's record breaking performance is an encouraging sign for the year ahead."

Breaking down the total Numbers into TREB Areas

• 1,975 sales were reported in TREB's 28 West districts and averaged $335,116
• 878 sales were reported in the 14 Central districts and averaged $462,211
• 1,082 sales were reported in the 23 North districts and averaged $383,806
• 1,238 sales were reported in TREB's 21 East districts and averaged $280,178

TREB Members reported 4,447 sales in December, up four per cent over the 4,255 recorded last December, and the second best total ever recorded for the month, TREB President Dorothy Mason announced today. "December's performance is indicative of the whole year, which saw total transactions break the 83,000 level (83,084) for only the third time since records have been kept," noted the President.

Year-over-year, the average price in 2006 rose five per cent over the $335,907 recorded in 2005 to $351,941. "This means that prices continue to outpace inflation, making home-ownership a sound investment in today's economy and invariably in the long term."

Breaking down the total Numbers into TREB Areas

• 1,643 sales were reported in TREB's 28 West districts and averaged $318,364
• 779 sales were reported in the 14 Central districts and averaged $408,599
• 941 sales were reported in the 23 North districts and averaged $382,065
• 1,084 sales were reported in TREB's 21 East districts and averaged $271,463

November put in another solid performance, with 6,281 sales transacted through the TorontoMLS system, Toronto Real Estate Board (TREB) President Dorothy Mason announced today. "This 6,000 plus figure is in keeping with a generally healthy real estate market," said the President. "By the end of December, the Toronto area market will have exceeded 80,000 resales for only the third time in TREB history."

Prices remained stable in November, with the average moderating slightly to $355,727 from October's $356,423. The average was up four per cent over the November 2005 figure of $341,177.

Breaking down the total Numbers into TREB Areas

• 2,424 sales were reported in TREB's 28 West districts and averaged $334,085
• 1,223 sales were reported in the 14 Central districts and averaged $457,730
• 1,152 sales were reported in the 23 North districts and averaged $391,959
• 1,482 sales were reported in TREB's 21 East districts and averaged $278,785

The Toronto Residential market put in another solid performance in October, with 6,876 homes changing hands through the TMLS system, TREB President Dorothy Mason announced today. "This is up about four per cent over September's 6,622 figure. And, though it has moderated slightly from October of 2005, we are still looking at an annual total of well over 80,000 homes transacted. This is a very healthy, active market."

Prices continued their upward trend in October, rising two per cent over September to $356,423. They were also up four per cent over the $342,450 recorded in October of 2005.

Breaking down the total Numbers into TREB Areas

• 2,520 sales were reported in TREB's 28 West districts and averaged $330,585
• 1,317 sales were reported in the 14 Central districts and averaged $473,336
• 1,383 sales were reported in the 23 North districts and averaged $379,680
• 1,658 sales were reported in TREB's 21 East districts and averaged $283,339

In September, TREB's average price climbed to $349,142, a three per cent increase over August, and also up three per cent over the $338,267 recorded in September of 2005. "Year-over-year prices currently show a five per cent increase over last year," TREB President Dorothy Mason added. "Home ownership as an investment continues to provide returns well above the rate of inflation."

As prices rose, sales continued at a more normalized pace, with 6,622 transactions of single-family dwellings sold through the TMLS system. "While down from the 7,326 sales recorded in September of 2005, last month was still the 3rd best September performance ever recorded," said Mrs. Mason. "Toronto's autumn market remains solid and strong, and by year-end our final sales numbers will exceed 80,000 transactions.

Breaking down the total Numbers into TREB Areas

• 2,552 sales were reported in TREB's 28 West districts and averaged $331,006
• 1,166 sales were reported in the 14 Central districts and averaged $443,881
• 1,312 sales were reported in the 23 North districts and averaged $386,360
• 1,592 sales were reported in TREB's 21 East districts and averaged $278,154

TREB President Dorothy Mason announced today that the Toronto resale homemarket continued its run of healthy showings in August, with 6,976 homes changing hands through the TorontoMLS system.

"Last month was the second best August ever recorded, off moderately from the record 7,498 figure achieved in 2005. In addition, the year as a whole has seen 59,488 single-family dwelling sales, up marginally from 2005's January to August performance. As people return from their summer holidays, we are looking forward to an even more active autumn market."

Prices remain stable in August, with the Average coming in at $338,192, less than one per cent lower than the July figure of $342,034. This figure is up five per cent over the $323,255 recorded during August of 2005.

Breaking down the total Numbers into TREB Areas

• 2,627 sales were reported in TREB's 28 West districts and averaged $321,415
• 1,181 sales were reported in the 14 Central districts and averaged $401,244
• 1,493 sales were reported in the 23 North districts and averaged $388,674
• 1,675 sales were reported in TREB's 21 East districts and averaged $275,050

July saw 7,082 single-family homes change hands in the Greater Toronto Area; a strong showing at over 7,000 sales, though slightly less active than the 7,387 sales recorded in July 2005, TREB President Dorothy Mason reported today.

"The GTA market is very healthy,” Mrs. Mason said. “Year-to-date figures show that 2006 remains more than one per cent ahead of 2005, with 52,682 transactions recorded so far this year, compared to last year’s 51,985 transactions.”

The average price of homes that changed hands in July was $342,034, up nearly five per cent over the $326,034 figure recorded last July, while year-to-date prices at the end of the month were up more than five per cent over the same time frame last year. “Consumers are still seeing excellent return on their investment, yet price increases are very steady and controlled which is helping to maintain affordability in the market,” Mrs. Mason said.

Breaking down the total Numbers into TREB Areas

• 2,680 sales were reported in TREB's 28 West districts and averaged $325,417
• 1,279 sales were reported in the 14 Central districts and averaged $428,031
• 1,407 sales were reported in the 23 North districts and averaged $373,573
• 1,716 sales were reported in TREB's 21 East districts and averaged $278,028

The summer of 2006 got off to a booming start, with 8,730 resale home sales in the month of June, incoming TREB President Dorothy Mason announced today.

"This marks the fourth month in a row that sales have topped the 8,000 mark, giving us a year-to-date total of 45,797 sales," Mrs. Mason stated. "That figure is up two per cent over 2005, which turned out to be the best year ever recorded."

The average price came in at $358,035 in June, up four per cent over the $345,065 recorded in June of last year. "Prices remain affordable," Mrs. Mason said, "yet homeownership remains an excellent investment, with an annual return that exceeds inflation."

Average time-on-market remained at 32 days, and inventory fell a little (three per cent) from May to 25,393. "There is still plenty of product out there on the market," Mrs. Mason noted. "And that should keep a cap on price increases."

Breaking down the total Numbers into TREB Areas

• 3,245 sales were reported in TREB's 28 West districts and averaged $339,469
• 1,579 sales were reported in the 14 Central districts and averaged $463,581
• 1,762 sales ?were reported in the 23 North districts and averaged $385,084
• 2,144 sales were reported in TREB's 21 East districts and averaged $286,174

With 9,434 sales recorded last month, May 2006 has proven to be the best month ever recorded in the 86 year history of the Toronto Real Estate Board, TREB President John Meehan announced today. "The May figure is up over two per cent from May 2005, when 9,209 sales were recorded, and up almost two per cent over the previous best ever month, June 2004, when 9,275 sales were recorded. The Toronto re-sale market is as healthy as it has ever been."

The president noted that the average price came in at $365,537 last month, compared to April's $366,683. "The key is that 17,685 new listings came onto the system in May, which pushed total inventory levels to 26,220 active listings at month-end. Both figures are up considerably over their year ago levels (seven and five per cent, respectively), and this is keeping price inflation to a reasonable level."

Breaking down the total Numbers into TREB Areas

• 3,504 sales were reported in TREB's 28 West districts and averaged $340,841
• 1,739 sales were reported in the 14 Central districts and averaged $483,682
• 1,898 sales were reported in the 23 North districts and averaged $390,999
• 2,293 sales were reported in TREB's 21 East districts and averaged $292,600

Toronto Real Estate Board Members reported a solid 8,361 sales in April, TREB President John Meehan reported today. "April's result was the third best performance ever recorded for the month, and year-to-date sales, at 28,020, are up five per cent over January-to-April of 2005."

Meanwhile, prices trended upward in April, with the average rising four per cent over March to $366,683. It was also up seven per cent over the $342,032 recorded in April of 2005. "A price jump like this is good news for home-owners. However, potential purchasers can take comfort from the fact that, with listings up four per cent over last April 25,245), further increases should be quite limited for the remainder of the year."

Breaking down the total Numbers into TREB Areas

• 3,189 sales were reported in TREB's 28 West districts and averaged $340,900
• 1,442 sales were reported in the 14 Central districts and averaged $499,194
• 1,701 sales were reported in the 23 North districts and averaged $393,841
• 2,029 sales were reported in TREB's 21 East districts and averaged $290,262

TREB Members reported 8,707 sales of existing homes in March, a 10 per cent increase over the 2005 total of 7,904, Toronto Real Estate Board President John Meehan announced today. "The March performance is the second best ever recorded for the month," Mr. Meehan said. "Furthermore, year-to-date we have seen 19,831 sales, which is the best first quarter result since statistics have been kept." Prices steadied last month, with the average registering at $353,134, almost the same as in February and up seven per cent from the $330,545 recorded in March of 2005. Inventory climbed four per cent over last March to 22,765, and average time-on-market fell to 30 days.

Breaking down the total Numbers into TREB Areas

• 3,281 sales were reported in TREB's 28 West districts and averaged $334,274
• 1,558 sales were reported in the 14 Central districts and averaged $458,623
• 1,710 sales were reported in the 23 North districts and averaged $381,774
• 2,158 sales were reported in TREB's 21 East districts and averaged $282,954

Sales of existing homes rose to 6,756 in February, a nine per cent increase over the same month last year, TREB President John Meehan announced today. "The Toronto resale market is accelerating nicely as we move towards Spring," the President said. "It looks like another healthy year ahead of us." Mr. Meehan further noted that February's performance was the second best for the month ever recorded and up 47 per cent from January, which is in line with seasonal trends.

On the pricing front, the average in February rose to $353,928, a six per cent increase over both February 2005 and January's figure of $332,687. The median price told much the same story, rising six per cent to $298,000 over $281,000 recorded during last Feburary, and up three per cent over January 2006.

Breaking down the total Numbers into TREB Areas

• 2,524 sales were reported in TREB's 28 West districts and averaged $333,969
• 1,219 sales were reported in the 14 Central districts and averaged $465,484
• 1,344 sales were reported in the 23 North districts and averaged $377,795
• 1,669 sales were reported in TREB's 21 East districts and averaged $283,414

The new year got off to a good start with 4,587 sales in January, up 10 per cent over the 4,153 figure recorded in January 2005, TREB President John Meehan announced today. "Last month's result was the second best January ever recorded, and an eight per cent increase over the 4,255 sales recorded in December," Mr. Meehan said. "This certainly bodes well for the resale market going forward into the new year."

On the pricing front, the GTA-wide average came in at $332,687, up three per cent over the $323,141 recorded during the previous January. The median reached $288,200, up four per cent over the same time last year.

Breaking down the total Numbers into TREB Areas

• 1,796 sales were reported in TREB's 28 West districts and averaged $315,108
• 773 sales were reported in the 14 Central districts and averaged $424,503
• 910 sales were reported in the 23 North districts and averaged $370,237
• 1,108 sales were reported in TREB's 21 East districts and averaged $266,285

TREB Members reported a record-breaking 84,145 sales during the course of 2005, TREB President John Meehan announced today. "Last year was the best annual performance since statistics have been kept," the President noted. "It is up one per cent over the 83,501 sales recorded during our previous record year, which was 2004."

During December alone, 4,255 sales were transacted through the TorontoMLS system, the second best showing ever for that month, and up from the 4,232 recorded during December 2004.

On the pricing front, the average rose a healthy but not excessive six per cent in 2005, to $335,907 from 2004's figure of $315,321. For December the average was $327,216, up four per cent over December 2004.

Breaking down the total Numbers into TREB Areas

• 1,661 sales were reported in TREB's 28 West districts and averaged $304,348
• 776 sales were reported in the 14 Central districts and averaged $407,473
• 806 sales were reported in the 23 North districts and averaged $365,210
• 1,012 sales were reported in TREB's 21 East districts and averaged $272,949

It was all good news as TREB Members reported 6,646 transactions in November, TREB President John Meehan announced today. "The 6,646 figure is a new record for the month, up five per cent over the previous record of 6,301 sales, recorded during November of 2004," Mr. Meehan said. "In addition, year-to-date sales have now reached 79,995, up almost one per cent over 2004. All signs point to another record year with well over 80,000 sales."

The holiday cheer extended to pricing as well, with Toronto's average down marginally (under one per cent) to $341,177 from October, and the median remaining unchanged at $291,000. "Home owners should see about a seven per cent increase in the value of their home over 2004, which is well above the rate of inflation," noted the President. " On the other hand, these increases are moderate enough that affordability will not be jeopardized for either move up or first time buyers."

Breaking down the total Numbers into TREB Areas

• 2,526 sales were reported in TREB's 28 West districts and averaged $318,634
• 1,262 sales were reported in the 14 Central districts and averaged $419,815
• 1,284 sales were reported in the 23 North districts and averaged $378,682
• 1,573 sales were reported in TREB's 21 East districts and averaged $283,622

With two months to go and 73,514 properties having changed hands through the TorontoMLS system, TREB President John Meehan announced today that 2005 is currently running just ahead of the 10 month total (73,202) recorded last year. “The residential resale market could exceed the record 83,501 transactions seen in 2004,” said the President. “This year may well put in Toronto’s best annual performance ever.’

There were 7,174 properties sold in the month of October alone, Mr. Meehan went on to note. This is up eight per cent over October 2004, and the second best total for the month ever recorded. Meanwhile prices rose to $342,450, a one per cent increase over September and up six per cent over the $324,215 recorded in October of 2004.

Breaking down the total Numbers into TREB Areas

• 2,759 sales were reported in TREB's 28 West districts and averaged $320,875
• 1,262 sales were reported in the 14 Central districts and averaged $447,660
• 1,443 sales were reported in the 23 North districts and averaged $371,659
• 1,710 sales were reported in TREB's 21 East districts and averaged $315,891

The Toronto Real Estate market continued its record breaking ways in September, with 7,326 sales transacted through the TorontoMLS system, Board President John Meehan reported today. "This figure is up 11 per cent over last year (6,588 sales), and up eight per cent over sales in September 2003 (6,751), which was our previous best September."

The President went on to note that, with 66,480 sales year-to-date, 2005 has closed to within a single percentage point of the 2004 nine-month total (66,668). "If the fourth quarter market performs as well as the previous three months," said Mr. Meehan, "there is a strong possibility that 2005 could end up as the best year ever."

The President went on to note that prices strengthened considerably in September, with the average rising five per cent to $338,267 over the August figure of $323,255. In addition, the year-to-date average, at $335,267, is up seven per cent over 2004.

Breaking down the total Numbers into TREB Areas

• 2,809 sales were reported in TREB's 28 West districts and averaged $318,293
• 1,295 sales were reported in the 14 Central districts and averaged $430,000
• 1,456 sales were reported in the 23 North districts and averaged $374,135
• 1,766 sales were reported in TREB's 21 East districts and averaged $273,201

With 7,498 sales, last month turned out to be the best August ever recorded in the history of the Toronto Real Estate Board, TREB President John Meehan announced today. “Transactions were up 11 per cent over August, 2004, which was our previous record,” said the President. “They also rose about two per cent over July. It’s unusual that sales should pick up in the late summer, and signals an active fall market ahead.”

The average price for August came in at $323,255, with the median at $285,000. These figures are up seven and five per cent, respectively, over the $304,509 and $270,000 recorded during August of 2004.

Breaking down the total Numbers into TREB Areas

• 2,941 sales were reported in TREB's 28 West districts and averaged $303,042
• 1,241 sales were reported in the 14 Central districts and averaged $387,424
• 1,608 sales were reported in the 23 North districts and averaged $371,849
• 1,708 sales were reported in TREB's 21 East districts and averaged $265,686

With 7,387 single-family homes transacted last month, sales were up one per cent over the 7,329 sales recorded in July 2004, TREB President John Meehan reported today. “This excellent result makes July 2005 the second best July ever recorded, down nominally as compared to the best-ever 8,084 sales recorded during the same month of 2003.”

The President noted also that, with 2,175 sales in July, the condominium sector has come to play an increasingly important role in the local market.

“While some have suggested that the condo-building boom of the late 1990s would lead to an oversupply, first-time buyers and others looking for affordable housing options continue to snap up these offerings once they hit the resale market. Condominium apartments now make up over 20 per cent of the homes sold through MLS; add townhouses to the mix, and the figure is close to 30 per cent.”

While sales were strong, prices eased five per cent in July, with the average coming in at $326,034 compared to the $345,065 recorded in June. This figure is up four per cent, however, from the $312,418 figure recorded in July 2004.

Breaking down the total Numbers into TREB Areas

• 2,841 sales were reported in TREB's 28 West districts and averaged $305,789
• 1,211 sales were reported in the 14 Central districts and averaged $405,182
• 1,536 sales were reported in the 23 North districts and averaged $372,455
• 1,799 sales were reported in TREB's 21 East districts and averaged $265,090

In June, TREB Members reported 9,153 sales of single-family homes throughout the Greater Toronto Area, TREB President John Meehan announced today. "This figure makes last month the second best June ever recorded, down only one per cent from the record 9,275 sales recorded in June of 2004," the President noted. "It is also only the sixth time in Board history that total monthly sales have exceeded 9,000."

Prices fell marginally in June, down a little less than one per cent to $345,065 from May's $346,474. "While the sales pace remains very strong," Mr. Meehan said, "price increases have been relatively moderate. In fact, the June figure represents only a nine per cent increase over the $316,510 recorded in June of 2004, which is line with the single-digit annual increases we have seen over the course of the last several years." Inventory at the end of June was 23,876, up seven per cent over June 2004. On average, houses sold during June were on market for 40 days.

Breaking down the total Numbers into TREB Areas

• 3,494 sales were reported in TREB's 28 West districts and averaged $322,687
• 1,673 sales were reported in the 14 Central districts and averaged $458,775
• 1,812 sales were reported in the 23 North districts and averaged $368,340
• 2,174 sales were reported in TREB's 21 East districts and averaged $274,128

The Toronto resale home market accelerated to a record pace in May, with 9,209 homes changing hands, the best ever total for May, and the second best monthly total ever recorded in the history of the Toronto Real Estate Board. "Sales increased four per cent over April's 8,834 total, and were up marginally over the 9,193 figure recorded in May of 2004," TREB President Ron Abraham commented. "This 9,209 figure is also down a bare one per cent from the all-time record of 9,275 sales recorded in June of 2004."

Average prices rose another one per cent in May, going to $346,474 from April's $342,032. They were also up six per cent from the $325,501 recorded during May of 2004. Meanwhile, at $292,950, the median increased two per cent over April, and six per cent over May of 2005.

Breaking down the total Numbers into TREB Areas

• 3,486 sales were reported in TREB's 28 West districts and averaged $332,137
• 1,618 sales were reported in the 14 Central districts and averaged $470,806
• 1,809 sales were reported in the 23 North districts and averaged $370,678
• 2,296 sales were reported in TREB's 21 East districts and averaged $276,739

With 8,834 sales recorded through the TorontoMLS system, April 2005 put in the second best performance for that month ever recorded, TREB President Ron Abraham announced today. "April sales were up 12 per cent over the 7,904 recorded in March," Mr. Abraham said. "Though down a little from the record pace of April 2004 (9,168 sales), the 8,834 figure still indicates a hot, hot market. In fact, had there been as many sales days this year as in April 2004, we might have set a new record."

Overall, prices resumed their upward trend in April, rising to 342,032, a three per cent increase over March and six per cent above the $321,131 recorded during April of 2004.

Breaking down the total Numbers into TREB Areas

• 3,330 sales were reported in TREB's 28 West districts and averaged $316,446
• 1,536 sales were reported in the 14 Central districts and averaged $455,153
• 1,775 sales were reported in the 23 North districts and averaged $380,778
• 2,193 sales were reported in TREB's 21 East districts and averaged $270,293

With 7,904 sales recorded in March, the Toronto resale home market turned in its second best performance for the month ever, TREB President Ron Abraham announced today. "The market continues to run at a near-record pace," Mr. Abraham said. "With the Easter holiday behind us, we are now entering the most active time of year for sales. Spring should result in some very strong numbers."

Prices eased in March to $330,545, down one per cent from February's $334,272, but up eight per cent from the $307,155 recorded in March of 2004. Inventory reached its highest point this year, with 21,840 properties listed for sale on the TorontoMLS system. This figure is up 11 per cent over the 19,749 listings available at the end of last March.

Breaking down the total Numbers into TREB Areas

• 2,991 sales were reported in TREB's 28 West districts and averaged $308,660
• 1,373 sales were reported in the 14 Central districts and averaged $433,384
• 1,616 sales were reported in the 23 North districts and averaged $355,771
• 1,924 sales were reported in TREB's 21 East districts and averaged $269,991

In February, Toronto Real Estate Board Members reported a robust 6,171 sales, TREB President Ron Abraham announced today. "This result is our second best February number ever, a two per cent improvement over 2004's 6,060 figure, and down only moderately from the record of 6,866 sales set in February of 2002." The President also noted that sales were up 48 per cent from the 4,153 sales recorded in January, a figure in line with the seasonal trend.

Prices rose last month, up three per cent over to $334,272 from January's figure of $323,141. It was also up eight per cent from the $310,196 recorded during February 2004. The median price came in at $281,000, up one per cent over January.

Breaking down the total Numbers into TREB Areas

• 2,335 sales were reported in TREB's 28 West districts and averaged $313,254
• 1,074 sales were reported in the 14 Central districts and averaged $447,007
• 1,264 sales were reported in the 23 North districts and averaged $355,188
• 1,498 sales were reported in TREB's 21 East districts and averaged $268,559

For only the fifth time in history, Toronto sales broke the 4,000 level in January, TREB President Ron Abraham announced today. "With 4,153 sales during the month, 2005 is off to a fast start," said the President. "Although it is still very early in the year, the January figure is a sign of good things to come."

Meanwhile, prices rose modestly in January, with the average climbing two per cent to $323,141 over December's figure of $315,231. It was also up nine per cent over January of 2004. "Although it is very early in the year, these price figures do provide a clue as to how 2005 will work out," said Mr. Abraham. "Once again, we will probably experience the same moderate, sustainable, single-digit price increases that have been the norm for the past several years."

Breaking down the total Numbers into TREB Areas

• 1,552 sales were reported in TREB's 28 West districts and averaged $297,770
• 699 sales were reported in the 14 Central districts and averaged $436,264
• 895 sales were reported in the 23 North districts and averaged $351,153
• 1,007 sales were reported in TREB's 21 East districts and averaged $258,824

With 83,501 single-family dwellings changing hands, 2004 was the best year for sales ever recorded, TREB President Ron Abraham announced today. "The year-end total was up six per cent from the previous record of 78,898," Mr. Abraham said. "In addition, 2004 prices were up seven per cent over 2003 to $315,231, their highest level ever recorded. The median price came in at $270,000, up six per cent over last year."

December alone saw 4,232 sales, the second best December on the books and up one per cent over the same month last year. "The fact that we recorded over 4,000 transactions in what is usually the slowest month of the year is a good sign going forward," Mr. Abraham noted. "2005 should get off to a healthy start."

Breaking down the total Numbers into TREB Areas

• 1,601 sales were reported in TREB's 28 West districts and averaged $285,749
• 782 sales were reported in the 14 Central districts and averaged $417,999
• 800 sales were reported in the 23 North districts and averaged $365,112
• 1,049 sales were reported in TREB's 21 East districts and averaged $247,715

Last month was a record November and, with 79,382 sales for the year-to-date, 2004 is already the best year the Toronto resale home market has ever experienced, TREB President Ron Abraham announced.

“The TorontoMLS system recorded 6,301 single-family dwelling sales in November,” said the President. “This is an eight per cent increase over November 2003 (5,847 sales), which was the previous high-water mark for the month. With December still to come, we expect to break 80,000 total sales by the end of 2004, a first in Board history.”

Prices eased to $318,837 in November, a decline of two per cent from the previous month. This was about the same as the decline between October and November 2003, where prices fell one per cent to $301,612 from $304,844. In addition, total inventory came in at 20,273 active listings, up 14 per cent over November of 2003. “This indicates that we are entering a period of relative quiet around the Christmas holiday,” Mr. Abraham said. “However, we still expect another 4,000 to 5,000 sales before the end of the year.”

Breaking down the total Numbers into TREB Areas

• 2,401 sales were reported in TREB's 28 West districts and averaged $296,689
• 1,201 sales were reported in the 14 Central districts and averaged $413,445
• 1,221 sales were reported in the 23 North districts and averaged $347,481
• 1,478 sales were reported in TREB's 21 East districts and averaged $254,278

October sales rose one per cent over September to 6,666, making this month the 2nd best October ever, TREB President Ron Abraham announced today. "In addition to having a strong month sales-wise, prices continued their advance in October, with the average rising one per cent to $324,215 over September's $320,911, and six per cent over the $304,844 recorded in October of 2003."

In other highlights, Mr. Abraham noted that average Days on Market came in at 36 days, a brisk pace by historical standards, and that the average list-to-sale price ratio remained at 98 per cent, indicative of a seller's market.

Breaking down the total Numbers into TREB Areas

• 2,564 sales were reported in TREB's 28 West districts and averaged $298,351
• 1,136 sales were reported in the 14 Central districts and averaged $441,051
• 1,291 sales were reported in the 23 North districts and averaged $350,790
• 1,675 sales were reported in TREB's 21 East districts and averaged $264,084

Last month saw the second best September ever recorded for sales, with 6,588 single family homes transacted through the TorontoMLS system, TREB President Ron Abraham said today. "With sales strong, average prices bounced back as well, going to $320,911 from the $304,509 recorded in August, a five per cent increase.

This figure was also up eight per cent over the $297,398 recorded in September of '03."

Also in September, inventory reached its highest level of the year with 24,293 active listings. This is a 15 per cent increase over the 21,101 recorded in September of 2003, and up nine per cent over last month. "This is good news for potential home buyers." "A higher level of Inventory should put some constraints on price increases going forward," Mr. Abraham noted.

Breaking down the total Numbers into TREB Areas

• 2,552 sales were reported in TREB's 28 West districts and averaged $297,806
• 1,139 sales were reported in the 14 Central districts and averaged $421,064
• 1,295 sales were reported in the 23 North districts and averaged $355,776
• 1,602 sales were reported in TREB's 21 East districts and averaged $258,326

Toronto's resale market felt the heat in August, with 6,743 homes changing hands, the most ever recorded for the month. Transactions were up three per cent over the previous record of 6,549 sales, set in August of 2003, TREB President Ron Abraham announced today.

Meanwhile, prices continued to ease, falling two per cent to $304,509 from the $312,418 recorded in July. "The declines of the last couple of months are entirely seasonal in nature, and year-over-year prices are still up seven per cent over 2003," Mr. Abraham noted, With people on holidays, and a fairly healthy level of inventory (22,204 active listings at the end of July), this was bound to occur.

Going into fall market, Mr. Abraham saw nothing but continued good news ahead. "With 1.1 per cent growth in the second quarter, the Canadian economy is still strong, inflation is still holding steady in the two per cent range and interest rates remain historically low. So the Toronto resale market should continue to perform at or near record levels. I predict that 2004 will be the first year where sales exceed 80,000 dwellings."

Breaking down the total Numbers into TREB Areas

• 2,573 sales were reported in TREB's 28 West districts and averaged $290,042
• 1,103 sales were reported in the 14 Central districts and averaged $349,827
• 1,425 sales were reported in the 23 North districts and averaged $350,197
• 1,642 sales were reported in TREB's 21 East districts and averaged $257,088

Prices declined marginally in July, falling one per cent to $312,418 from the $316,510 recorded in June, TREB President Ron Abraham said today. "A continued high level of inventory (22,368 active listings, unchanged from June) has contained price pressures," Mr. Abraham said. "This is welcome news for buyers." He went on to note that prices were up eight per cent over July of 2003.

Sales continued strong last month, with 7,329 single-family dwellings changing hands through the TorontoMLS system, the second best result ever recorded for a July. "That's a very strong number for a summer month, and second only to July 2003 when 8,084 sales were recorded. In addition, year-to-date sales are up 10 per cent over the 48,622 recorded in the January-to-July period of 2003."

Breaking down the total Numbers into TREB Areas

• 2,765 sales were reported in TREB's 28 West districts and averaged $296,221
• 1,189 sales were reported in the 14 Central districts and averaged $392,189
• 1,488 sales were reported in the 23 North districts and averaged $345,998
• 1,887 sales were reported in TREB's 21 East districts and averaged $259,409

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."

Breaking down the total Numbers into TREB Areas

• 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
• 2,298 sales were reported in TREB's 21 East districts and averaged $258,871

The Toronto Real Estate market posted its third consecutive all time record performance in May, with 9,193 single-family dwellings changing hands through the TorontoMLS system, TREB President Cynthia Lai reported today. "This figure is up just slightly from April's 9,168 figure, our previous all-time record, and up 15 per cent over May of 2003."

"The March, April, and May period was the best three month stretch in the history of the city (27,437 sales), and 2004 is on course to be the best year our local resale market has ever seen," Ms. Lai remarked. "As President of the Toronto Real Estate Board, these kinds of results make me very proud. In fact, when I leave office at the end of June, my term will have marked the best twelve month period that the Toronto resale market has ever recorded."

Ms. Lai went on to say that prices continued their upward trajectory in May, with the average going to $325,501, a one per cent increase over last month, and a nine per cent increase of May of last year. Fortunately, inventory also rose, to 22,484 active listings, a nine per cent increase over the previous month. "We have plenty of listings," Ms. Lai said. "And as long as that is the case the price increases we are seeing should be relatively constrained."

Breaking down the total Numbers into TREB Areas

• 3,438 sales were reported in TREB's 28 West districts and averaged $300,128
• 1,559 sales were reported in the 14 Central districts and averaged $444,138
• 1,848 sales were reported in the 23 North districts and averaged $349,317
• 2,348 sales were reported in TREB's 21 East districts and averaged $265,137

The Toronto Real Estate Market continued its remarkable Spring in April, with an all-time record setting 9,168 sales recorded through the TorontoMLS system, TREB President Cynthia Lai reported today. "The resale market in the first four months of 2004 has been the best ever recorded," Ms. Lai commented. "The monthly sales total is up 25 per cent from the 7,307 recorded last April, and up 12 per cent from the 8,181 sales recorded in April of 2002, which was our best ever April. It is also up one per cent over last month's previous all-time record of 9,076 sales. The good news just goes on and on."

Prices rose in April, up four per cent to $321,131 from the $307,155 recorded in March. "Fortunately," Ms. Lai noted, "inventory rose to 20,633 listings, up two per cent over last April. Though an increased number of homes on the market should mitigate price increases, to an extent, demand continues to outweigh supply. In addition, there are certain types of houses that remain relatively affordable. For example, prices of condominium apartments have increased only about four per cent over this time last year, whereas the market as a whole has increased about twice that much."

Breaking down the total Numbers into TREB Areas

• 3,481 sales were reported in TREB's 28 West districts and averaged $301,401
• 1,529 sales were reported in the 14 Central districts and averaged $427,792
• 1,848 sales were reported in the 23 North districts and averaged $344,815
• 2,310 sales were reported in TREB's 21 East districts and averaged $261,316

The Toronto resale home market turned in its best performance ever in March, with 9,076 homes trading hands through the Toronto MLS system during the month, President Cynthia Lai announced today. "This figure is up an extraordinary 11 per cent over the April 2002 figure of 8,181 sales, which was our previous best one-month performance," The President said. "It is also the first time sales have cracked the 9,000 level."

Prices eased in March, falling to $307,155 from the $310,196 recorded in February, a decline of about one per cent. "An influx of new listings onto the market (14,641) helped ease some of the upwards price pressures of the last several months," Ms. Lai noted.

"We should see housing remain relatively affordable over the course of the year, in spite of high sales volumes." The President went on to say that overall prices were up six per cent over the $290,185 recorded in March of 2003. She went on to point out, however, that these increases varied from neighborhood to neighborhood, with some areas like Islington in W-08 rising only about three per cent year-over-year.

Breaking down the total Numbers into TREB Areas

• 3,433 sales were reported in TREB's 28 West districts and averaged $287,588
• 1,500 sales were reported in the 14 Central districts and averaged $395,172
• 1,849 sales were reported in the 23 North districts and averaged $339,276
• 2,294 sales were reported in TREB's 21 East districts and averaged $252,996

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 Numbers into TREB Areas

• 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;
• 1,511 sales were reported in TREB's 21 East districts and averaged $250,045.

For many homebuyers, coming up with a down payment can be a long process, often delaying the purchase of a home. Thanks to the Canada Mortgage and Housing Corporation, that process just got a little easier. Effective March 1, 2004, Canadian home buyers will have greater flexibility in what they can use as a down payment.

In the past, homebuyers have been required to have a minimum five per cent down payment from their own resources in order for the CMHC to insure a mortgage. Under the new rule, homebuyers will be able to obtain the five per cent down payment from a number of sources including lender incentives, lines of credit, credit cards and personal loans.

Homebuyers who participate in the building of their home can also put the value of the work toward the five per cent down payment.

Other changes give lenders the ability to offer homebuyers a variety of mortgage products that include mortgages with terms as low as six months and fixed, adjustable and capped interest rate loans.

Housing starts are expected to remain strong in 2004, reaching 203,900 units, their third highest level since 1989, according to Canada Mortgage and Housing Corporation's (CMHC) first quarter Housing Outlook, National Edition report. This is down from a 15-year high of 218,400 units in 2003.

"Consumer confidence remains high while mortgage rates remain low by historical standards", said Bob Dugan, Chief Economist at CMHC. "These factors, combined with accelerated economic growth and continued job creation will contribute to the continued strong performance of the housing market this year. A better balance between listings and sales in the existing home market will reduce spill-over demand to the new home market. Gradually rising mortgage rates in the latter half of 2004 will also ease the pace of new home construction, particularly in 2005 when starts are expected to reach 191,800 units."

"Resale activity is expected to be below last year's record pace, in part due to rising house prices. As sales edge lower, relative to new listings coming on the market, growth in house prices will moderate from the pace seen in 2002 and 2003. Nationally, the average price of existing homes will increase by 4.7 per cent this year and 3.2 per cent in 2005."

Expectations for 2004 remain high in Ontario, where residential construction peaked in 2003, but starts will drop slightly from last year's level to 78,000 units. Levels will continue to drop through to 2005, in part due to fewer people moving to Ontario from other provinces. Multiple-family home starts are expected to decline slightly to 35,000 units in 2004 but still record the second highest level in 14 years.

A special report on the rental market reveals that vacancy rates rose in most markets across Canada. "The rise in the vacancy rate over the past year reflects a number of factors. Foremost among these are low mortgage rates, which reduced mortgage carrying costs and lessened demand for rental housing by bringing home ownership within the reach of many renter households", added Dugan.

Almost 470,000 households intend to buy in 2002 and 1,600,000 owners intend to renovate.

Almost 470,000 households, an average 11 per cent of all households in Halifax, Montreal, Toronto, Edmonton and Vancouver, are in the market to buy a home over the next 12 months, according to the Consumers Intentions to Buy or Renovate a Home report from Canada Mortgage and Housing Corporation available on the CMHC website.

"More than 20,700 households in the five major centres were interviewed for this major research survey. Intentions to purchase a home were found to be strongest in Edmonton and Toronto, where 12 per cent of households will be in the market," said Claude Lapointe, senior economist at CMHC. "More than one in 10 households in Vancouver intend to purchase a home in the next 12 months, while intentions are slightly lower in Halifax (nine per cent) and in Montreal (eight per cent)."

"Compared with the 2000 survey, intentions to purchase a home remained relatively stable in the four centres that were covered by the survey in both years (Edmonton was not included last year). The residential market is resisting a slowing economy as favourable mortgage rates help maintain intentions to buy at last year's levels."

The market research report provides details showing home renovations will also be strong next year. Thirty seven per cent of homeowners in the five major urban centres indicated that they intend to spend at least $1,000 on renovating their homes.

The Consumer Intentions to Buy or Renovate a Home report contains a wealth of information and numerous details on current and projected housing markets. It will appeal to builders and developers, mortgage lenders, renovation contractors and trades, realtors, home product retailers, and building supply dealers. As well, planners and policy makers, financial analysts and economists, and advertisers will have access to information that helps explain what is expected in the housing sector next year, takes away some uncertainty, and helps them gear up to tap the opportunities that lie ahead.

Mortgage Rates
Six-month 4.95%
One-year 4.60%
Two-year 5.30%
Three-year 5.75%
Four-year 6.55%
Five-year 6.85%

Existing home sales in Canada's 25 major markets in November remained strong, despite having slipped from remarkably high levels the previous month.

According to The Canadian Real Estate Association, some 25,798 homes were sold on a seasonally adjusted basis via the M.L.S (Multiple Listing Service) in November, representing a decrease of seven per cent compared to the previous month. Year-to-date, seasonally adjusted M.L.S home sales have surpassed last year's level by 4.1 percent. On an unadjusted basis, activity reached its highest level on record for the month of November in Montreal, Outaouais and St. John's.

The major market M.L.S residential average price of $235,295 surpassed its previous minthly record set one month earlier by 0.9 per cent, fueled by record-level average prices in a number of markets including Vancouver, Calgary, Montreal, Quebec City and St. Catharines.

"Favourable mortgate rates, continuing full-time job growth and resilient consumer confidence are keeping houing demand strong," said Pierre Beauchamp, CREA's chief executive officer.

"The Bank of Canada recently reiterated that it would continue to watch closely for any impact that sharp appreciation in Canada-U.S currency exchange rate may have on nearterm economic growth prospects. If growth falters, economists expect the Bank to cut interest rates further in the first half of 2004," he added.

"Interest rates are expected to remain favourable for the foreseeable future, so houing activity should stay strong in 2004." said Beauchamp.


CREA coutions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all houing types.