January Breaks 4,000 Sales

Thursday, February 3, 2005 -- 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, 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; and 1,007 sales were reported in TREB's 21 East districts and averaged $258,824.

NEIGHBOURHOOD CORNER

Mississauga

There were 569 sales in the Mississauga area during January, down 12 per cent from the figure recorded in January of 2004. The average price, however, rose seven per cent to $298,503. Breaking down the total, detached homes in Mississauga (203 sales) averaged about $418,655, while semis (121 sales) came in at $279,025.