For Further Information: 443-8152
The Records Keep Falling
Despite the frenzied sales pace, prices moderated in July, with the average down 4% to $222,102 from $230,692, and the median down about 3% to $193,000 from $198,150. "This is a perfectly normal seasonal development," Palander noted. "Unless you're in a full-fledged, 80's-style boom, prices just aren't going to go up every month. The lesson for potential sellers is to set a reasonable listing price. The days are gone when you could ask for something ridiculous and wait for the market to catch up with your price."
Breaking down the total, 2,008 sales were reported in
TREB's 28 West districts and averaged $208,581; 812 sales
were reported in the 14 Central districts and averaged
$304,319; 1,077 sales were reported in the 23 North
districts and averaged $247,098; and 1,575 sales were
reported in TREB's 21 East districts and averaged
In July, the average price of homes sold in the High Park/Bloor West Village area rose 14% from the same month last year to $307,629, reflecting a more active upper-end ($300,000 +) market. Average time-on-market was 51 days, up 54% from the 33 days of July '98, reflecting the fact that more expensive homes generally take longer to sell.
Single-Family Residential Breakdown
* Single-Family Dwellings Only
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