SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON,  D.C. 20549

                                   FORM 10Q




           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                  THE SECURITIES EXCHANGE ACT OF 1934

For Quarter Ended September 30, 2003           Commission File Number 0-7716



                              CENTURY REALTY TRUST
              (Exact name of Registrant as specified in its charter)


            INDIANA                                          35-1284316
(State or other jurisdiction of                           (I.R.S. Employer
Incorporation or organization)                           Identification No.)



823 Chamber of Commerce Building	                        46204
    Indianapolis, Indiana                                     (ZipCode)
(Address of principal executive offices)


Registrant's telephone number, including area code	    (317)632-5467

Indicate by check mark whether this registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing
requirements for the past 90 days.  YES  X   NO __.

Indicate by checkmark whether the registrant is an accelerated
filer (as defined in Rule 12b-2 of the Exchange Act). YES __  NO  X

Indicate the number of shares outstanding of each of the
issuer's classes of common stock as of the latest practicable
date.



    Shares of Beneficial Interest, no par value                    1,781,790








Part 1. Financial Information
Century Realty Trust and Subsidiaries
Consolidated Balance Sheets
                                                 September           December
                                                  30, 2003           31, 2002
                                                ___________        ___________
                                                 Unaudited         See Note 1
Assets
Real estate investments:
  Land                                           $3,776,383         $3,776,383
  Buildings                                      53,522,691         53,328,753
  Equipment                                       1,300,955          1,159,609
  Allowances for depreciation                   (17,249,249)       (15,984,984)
                                                ___________        ___________
                                                 41,350,780         42,279,761
  Net investment in direct financing leases         111,537            148,698
                                                ___________        ___________
                                                 41,462,317         42,428,459
Cash and cash equivalents                         1,751,208          1,751,051
Restricted cash                                   1,944,759          1,592,035
Accounts and accrued income receivable              414,324            321,571
Unamortized management contracts                    270,979            319,756
Unamortized mortgage costs                          306,302            341,875
Undeveloped land                                     99,675             99,675
Other assets                                         83,738            104,004
                                                ___________        ___________
                                                $46,333,302        $46,958,426
                                                ___________        ___________
                                                ___________        ___________
Liabilities and shareholders' equity
Liabilities:
  Mortgage notes payable                        $33,608,732        $34,101,623
  Accounts payable and accrued liabilities          567,168            393,467
  Interest                                          183,168            196,098
  State income and property taxes                 1,958,221          1,454,716
  Tenants' security deposits and unearned rent      578,226            573,299
                                                ___________        ___________
                                                 36,895,515         36,719,203

Minority interest in operating partnerships         436,902            569,021

Shareholders' equity:
  Shares of Beneficial Interest, no par
    value - authorized 5,000,000 shares,
    issued 1,789,783 shares (1,780,908 shares
    at December 31, 2002), including 8,507
    shares in 2003 and and 19,207 shares in
    2002, in treasury                             9,542,991          9,472,832
  Overdistributed income other
   than from gain on the sale of real estate     (1,770,314)          (920,316)
  Undistributed net realized gain from the
   sale of real estate                            1,316,078          1,316,078
  Cost of treasury shares                           (87,870)          (198,392)
                                                ___________        ___________
                                                  9,000,885          9,670,202
                                                ___________        ___________
                                                $46,333,302        $46,958,426
                                                ___________        ___________
                                                ___________        ___________
See accompanying notes.


Century Realty Trust and Subsidiaries
Consolidated Statements of Income
                                Three Months                  Nine Months
                               Ended September 30         Ended September 30
                            _______________________    ________________________
                               2003        2002            2003        2002
                            ___________  __________    ___________  ___________
Income:
Real estate operations:
  Rental Income              $2,948,078  $3,167,020     $8,828,939   $9,481,088
  Income from direct
    financing leases              4,137       5,712         12,411       17,135
  Other income                   60,887      73,118        186,869      218,845
                            ___________  __________    ___________  ___________
                              3,013,102   3,245,850      9,028,219    9,717,068
  Less:
    Operating expenses        1,706,925   1,421,286      4,529,202    4,145,187
    Depreciation                440,164     462,074      1,318,891    1,386,201
    Real estate taxes           383,869     337,514      1,151,635    1,026,059
                            ___________  __________    ___________  ___________
                              2,530,958   2,220,874      6,999,728    6,557,447
                            ___________  __________    ___________  ___________
                                482,144   1,024,976      2,028,491    3,159,621
Interest                          2,198       4,478          9,480       16,194
                            ___________  __________    ___________  ___________
                                484,342   1,029,454      2,037,971    3,175,815
Expenses:
Interest                        600,102     621,806      1,798,893    1,903,833
Mortgage loan
  extinguishment costs               -      293,484              -      293,484
State income taxes                   -        4,202              -       13,870
General and administrative      152,729     228,183        471,565      563,097
                            ___________  __________    ___________  ___________
                                752,831   1,147,675      2,270,458    2,774,284
                            ___________  __________    ___________  ___________
Income (loss) before
  minority interest in
  operating partnerships       (268,489)   (118,221)      (232,487)     401,531

Minority interest in
 operating partnerships          31,427      66,514         55,007       69,051
                            ___________  __________    ___________  ___________
Net income (loss)             ($237,062)   ($51,707)     ($177,480)    $470,582
                            ___________  __________    ___________  ___________
                            ___________  __________    ___________  ___________
Per share data:

  Basic earnings (loss)          ($0.13)     ($0.03)        ($0.10)       $0.27

  Diluted earnings (loss)        ($0.13)     ($0.03)        ($0.10)       $0.27


See accompanying notes.


Century Realty Trust and Subsidiaries
Consolidated Statements of Cash Flows
                                                    Nine Months
                                                Ended September 30
                                                 2003         2002
                                              __________   __________
Operating Activities
Net income (loss)                              ($177,480)    $470,582
Adjustments to reconcile net
 income(loss)to cash provided by
 operating activities:
   Depreciation and amortization               1,354,465    1,617,626
   Minority interest                             (55,007)     (69,051)
   Changes in operating assets
    and liabilities:
     Restricted cash                            (330,234)    (188,226)
     Accounts and accrued income receivable      (92,753)     (16,066)
     Other assets                                 (8,074)      31,104
     Accounts payable and accrued liabilities    659,288      437,810
     Tenants' security deposits and
      unearned income                              4,927       24,011
                                              __________   __________
Net cash provided by operating activities      1,355,132    2,307,790

Investing Activities:
Purchase of property and improvements           (335,284)    (533,253)
Lease principal payments received                 37,161       32,437
                                              __________   __________
Net cash used in investing activities           (298,123)    (500,816)

Financing Activities:
Net short-term bank borrowings (repayments)           -       (92,406)
Net proceeds from long-term mortgage loans            -     5,703,726
Mortgage loan balances refinanced                     -    (5,658,466)
Principal payments on mortgage notes payable    (492,891)    (464,382)
Sale of treasury shares                          109,675           -
Dividends paid to shareholders                  (667,530)    (737,060)
Distributions to holders of minority interest     (6,106)     (11,795)
                                              __________   __________
Net cash used in financing activities         (1,056,852)  (1,260,383)
                                              __________   __________
Net increase in cash and cash equivalents            157      546,591
Balance at beginning of period                 1,751,051    1,316,299
                                              __________   __________
Balance at end of period                      $1,751,208   $1,862,890
                                              __________   __________
                                              __________   __________

Supplemental Data:
Selected noncash activities related to
 investing and financing activities were
 as follows:
   Issued 8,875 shares in 2003 and 10,743
    shares in 2002 in exchange for like
    numbers of operating partnership units
    of controlled partnerships                   $71,006     $125,880
                                              __________   __________
                                              __________   __________


See accompanying notes.


NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CENTURY REALTY TRUST
September 30, 2003
Unaudited

NOTE 1 - BASIS OF PRESENTATION

     The accompanying unaudited consolidated financial statements
have been prepared in accordance with accounting principles
generally accepted in the United States for interim financial
information and with the instructions to Form 10-Q and Article
10 of Regulation S-X.  Accordingly, they do not include all of
the information and footnotes required by accounting principles
generally accepted in the United States for complete financial
statements.  In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary
for a fair presentation have been included.  Operating results
for the three months and nine months ended September 30, 2003
are not necessarily indicative of the results that may be
expected for the year ended December 31, 2003.

     The balance sheet at December 31, 2002 has been derived from
the audited financial statements at that date but does not
include all of the information and footnotes required for
complete financial statements. For further information, refer to
the consolidated financial statements and footnotes thereto
included in the Trust's annual report on Form 10-K for the year
ended December 31, 2002.

NOTE 2 - INTEREST IN OPERATING PARTNERSHIPS

     The Trust, through its wholly-owned subsidiary, CR Management,
Inc., is the general partner in five limited partnerships each
of which owns, as its principal asset, a single apartment
property.  CR Management, Inc. owns 2,972 partnership units.
Effective January 1, 2000, the Trust granted to each of the
beneficial owners of the remaining 286,908 partnership units the
right to exchange their units for an equal number of shares of
the Trust.  Exchanges are exercised effective on the first day
of each calendar quarter.  At December 31, 2002 the Trust owned,
in the aggregate 227,380, or 79.3%, of the limited partnership
interests.

     During the nine months ended September 30, 2003, the Trust
issued 8,875 shares of beneficial interest in exchange for
partnership units.  As of October 1, 2003, holders of 514 units
elected to exchange units for shares. Including the exchanges
exercised October 1, 2003, the Trust owns 236,769, or 82.5%, of
the 286,908 limited partnership units. The equity interest that
the Trust does not own is described in the consolidated
financial statements as the minority interest in operating
partnerships.


NOTE 3 - MORTGAGE NOTES PAYABLE

     Nine of the fifteen properties owned by the Trust are
encumbered by mortgage loans that are payable in monthly
installments totaling approximately $180,200, including interest
at rates ranging from 3.9% to 9% per annum, and which mature
from October 3, 2004 to February 1, 2012. Scheduled payments
during the three months and nine months ended September 30, 2003
decreased mortgage loan balances, in the aggregate, by $139,908
and $407,235, respectively.

     The five apartment properties owned by the operating
partnerships controlled by the Trust have long-term mortgage
loans that are payable in monthly installments totaling
approximately $70,000.  The loans have interest rates ranging
from 6.625% to 8.31%, and mature from June 1, 2006 to July 31,
2037.  The total monthly installments, range of interest rates,
and maturity dates represent new terms following modification in
July, 2002 of three of the five mortgage loans.  Scheduled
payments during the three months and nine months ended September
30, 2003 decreased mortgage loan balances, in the aggregate, by
$28,982 and $85,655, respectively.


NOTE 4 - FEDERAL INCOME TAXES

     The Trust intends to continue as a real estate investment trust
as defined in the Internal Revenue Code and to distribute its
taxable income.  Assuming compliance with other requirements of
the Code, income distributed will not be taxable to the Trust.
Accordingly, no provision for federal income taxes is made in
the financial statements. Distributions, however, to the extent
that such payments are from earnings and profits of the Trust,
are taxable to the shareholder recipients as dividend income.



MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

OVERVIEW

     Contained in this discussion are forward-looking statements
which management believe to be reasonable and informative.  Such
statements are based on assumptions which may not prove to be
correct for reasons management cannot predict.  Factors that
might cause such a difference include, among others, the
following:  dependence on the performance of key personnel and
independent property management firms; risks associated with the
high level of competition in the Trust's markets; changes in
mortgage interest rates; and, the unpredictability of economic
and regulatory conditions.  Consequently, the inclusion of
forward-looking statements should not be considered as
representations by the Trust or its management that expected
results will be achieved or that stated objectives will be
attained.

     At September 30, 2003 and 2002, and throughout the quarters and
nine month periods then ended, the Trust owned or controlled
fifteen apartment communities containing 2,136 apartment units,
three multi-tenant commercial properties containing 89,000
rentable square feet, and two restaurant properties leased to
operators under net leases.  Five of the fifteen apartment
communities containing a total of 586 units are owned by
partnerships in which the Trust has a majority financial
interest and over which it has exclusive control.  A detailed
listing of the investment real estate is contained on Page 2 of
the Trust's 2002 annual report.  At September 30, 2003 and 2002
the Trust's net investment in real estate consisted of apartment
properties (94%), commercial properties (5%) and net-leased
restaurant properties (1%).  Except for one restaurant property
in Orlando, Florida, the Trusts' real estate investments are
located in Indiana.

     The apartment communities, which comprise 94% of the Trust's
investment property, also account for most of the rental income
and expenses reported.  Management expects the real estate
portfolio will be unchanged during the fourth quarter of 2003.
In view of lower average apartment occupancy rates, rental
discounts offered to new tenants at certain locations, and
higher operating expenses to retain and attract residents,
management expects that net operating income from apartment
operations for the fourth quarter of 2003 will be less than that
reported for the comparable period of 2002.  Increases in real
estate taxes and premium costs for casualty and worker
compensation insurance in 2003 will further reduce earnings.

Critical Accounting Policies

     Amortization of Management Contracts.  In November, 1997, the
Trust paid $650,350 for the general partner interest and
absolute management control over five partnerships, each of
which owns one apartment property as its principal asset.  The
accounts of the partnerships are included in the consolidated
financial statements of the Trust.  The Trust granted to the
limited partners in those partnerships options to exchange their
interests for shares of beneficial interest of the Trust.  Those
options will expire in November 2007 at which time the Trust
will have the option to issue shares in exchange for any
outstanding limited partnership interests.  The Trust elected in
1997 to amortize, on a straight line basis, its cost to acquire
its position over the ten-year option period that it granted to
the limited partners; consequently, depreciation expense each
year includes $65,035 ($16,260 each quarter) of acquisition cost
amortization.

     Carpet Replacement Policy.  From its inception in 1973, the
Trust has consistently followed the practice of charging the
cost to replace carpets in its apartment units, as incurred, to
real estate operating expense.  The costs to replace carpets
amounted to $127,767 and $64,542 in the quarters, and $242,804
and $178,019 in the nine month periods, ended September 30, 2003
and 2002, respectively.  An acceptable alternative method of
accounting would be the capitalization of costs as incurred,
followed by charges for depreciation over the estimated useful
life of the carpet.  Management believes that, due to the
relatively short useful life of apartment carpets, the annual
expense for replacements is not materially greater than would be
the annual charges for depreciation had the carpets been
capitalized when purchased.


RESULTS OF OPERATIONS

     For the quarter and nine months ended September 30, 2003, the
Trust reported decreases of 7.2% and 7.1%, respectively, in
gross income from real estate operations from the comparable
periods of 2002.  Gross income from apartment operations
decreased by 7.8% and 7.2%, from the prior year third quarter
and first nine months as a result of lower occupancy rates that
more than offset the .6% higher average rental rates.  Economic
apartment occupancy for the third quarter of 2003 was 82.6%,
down from 89.9% during the prior year quarter; and, for the nine
months ended September 30, 2003 was 82.8%, down from 89.8%
during the comparable period of 2002.

      Rental properties other than apartments accounted for 5.7% of
total income from rental operations in the first nine months of
2003. Gross income from non-apartment properties decreased
$36,100, or 7.6%,  due to lower occupancy rates.  Occupancy
rates for commercial properties, exclusive of net-leased
restaurant properties, averaged 78% and 84% during the first
nine months of 2003 and 2002, respectively.

      Operating expenses, excluding interest and depreciation, for
all of the apartment properties amounted to 59.7% of gross
possible income for the third quarter of 2003, up from 50.6% for
the prior year period, and amounted to an increase of $318,200,
or 18.4%, in total operating expenses. Utilities, up 34.8%,
advertising, up 19.4%, unit decorating, up 76.9%, and
maintenance costs, up 31.6%, accounted for most of the increase
in total operating expenses in the third quarter comparison.
For the nine months ended September 30, 2003 and 2002, apartment
operating expenses were 53.8% and 49.8% of gross possible
income, respectively. Operating expenses were up $452,600, or
8.9%, from the comparable period of 2002.  In addition to the
expense increases during the third quarter, a severe winter
season following a moderate winter a year ago resulted in higher
utility expenses and snow and ice removal costs during the
earlier months of 2003. Higher rates for heating fuel and an
increase in the number of vacant units contributed to a 22.2%
increase in the cost of utilities.  Costs for snow and ice
removal increased by approximately $50,000 in 2003.

     Real estate taxes on Indiana property are assessed on March 1
each year and are payable in two installments in the following
calendar year.  Real estate tax expense for each quarter should
represent one-fourth of the estimated real estate taxes payable
during the next calendar year.  Estimates are based on actual
tax payments during the preceding year with allowances for
anticipated rate increases comparable with past experience.  A
state-wide reassessment of real property was effective for taxes
payable in 2003.  At the date of this writing, real estate tax
bills reflecting new assessments have not been received for four
of the Trust's eighteen Indiana rental properties.  For the
fourteen properties that have been reassessed, the current taxes
billed increased, in the aggregate, approximately 15% compared
to amounts billed in 2002.  Year to date accruals for the four
properties for which new assessments are not yet known include a
provision for increases of 4% over amounts paid in 2002.  Those
accruals will be recomputed and recorded when 2003 tax bills
reflecting new assessed values and tax rates are received.

     Interest expense, nearly all of which is applicable to thirteen
mortgage loans outstanding during the quarters and nine months
ended September 30, 2003 and 2002,  decreased by $21,700 and
$104,900, respectively. Three of those mortgage loans were
refinanced in late July, 2002 toward the objective of reducing
future interest expense.  The aggregate interest expense in the
three months and nine months ended September 30, 2003 for the
new loans at the new rates was $16,800 and $67,200 less than the
expense would have been for the old loans at the old rates.

     Three loans contain provisions to reset rates, based on
lender-determined benchmarks, at intervals of two years or less.
Two of the loans, with unpaid balances that totaled $1.3
million at September 30, 2003, provide for interest rates to be
reset in February each year.  The current interest rates
applicable to those loans is 4.12%.  The third adjustable rate
loan, with a current interest rate of 3.91%, had an unpaid
balance at September 30, 2003 of $4.73 million.  The next
interest rate reset date for that loan is October 1, 2004.  All
three of those loans had lower effective rates during the three
months and nine months ended September 30, 2003 than during the
comparable periods of 2002. In the aggregate, interest expense
applicable to those loans was $2,700 and $18,400 less in the
three and nine month periods of 2003 than in the comparable
prior year periods.

     The remainder of the decrease in interest expense resulted from
scheduled amortization of mortgage loan balances for which
interest rates and payment terms were unchanged during the 2003
and 2002 periods.

FINANCIAL CONDITION AND LIQUIDITY

     Management estimates that the Trust owes approximately $50,000
for accrued but as yet unbilled taxes payable in 2003 applicable
to four of its properties.  If taxes billed for those properties
exceed by more than 4% the amounts paid in 2002, additional
payments will be required.  Subsequent to September 30, 2003,
the Trust paid $64,000 to cover deficiencies in tax escrow
accounts for three properties.  Management estimates that escrow
agents may, during the fourth quarter,  request approximately
$90,000 to cover escrow deficiencies for the remaining
properties for which tax escrow accounts are maintained.  Other
than cash requirements for delayed billings and escrow account
deficiencies for real estate taxes,  management is not aware of
any significant transactions or events which would require
material expenditures in the fourth quarter of 2003.

     The Trust has no obligations other than for the ordinary and
necessary operation and maintenance of its investment
properties, nor has it made any commitments, which will require
expenditures in excess of funds anticipated to be provided by
operations during the remainder of 2003.

     Management believes that conditions related primarily to real
estate taxes, apartment occupancy and corporate governance exist
that make it likely that a net loss will be realized for the
fourth quarter of 2003 comparable to the loss realized for the
third quarter of 2003 and substantially lower than the net
income reported for the comparable period of 2002.  Real estate
tax billings that will reflect the reassessment of four of the
Trust's apartment properties,  have not been received.  While
the impact of those charges, when they become known, on
operating income and cash flows cannot be estimated at this
time, management expects that it will be negative.

     Apartment occupancy rates, since the beginning of 2003, have
declined from 88% to a current rate of just above 86% in spite
of a change in management agents and increased marketing
efforts.  Until economic conditions, namely low mortgage
interest rates and high unemployment rates, that are unfavorable
to apartment operations in the Trust's market areas reverse,
management is not optimistic that the Trust can significantly
improve its operating results.  Management expects that costs
related to corporate governance will increase in the fourth
quarter.  While those costs cannot be estimated at this time,
the impact on operations of the Trust during the last quarter of
this year may be significant.

     At September 30, 2003, the Trust held cash and cash equivalents
of approximately $1,460,000 in its own accounts and $291,000 in
partnership accounts which management believes is sufficient to
meet anticipated working capital requirements.


INFLATION

     Management believes that the direct effects of inflation on the
Trust's quarterly operations have been insignificant during 2003
and 2002.


PART II

     Item 6(b).  No events occurred during the three months
ended September 30, 2003, which would have necessitated the
filing of a report on Form 8K.

           (c)   Exhibits:

                 Rule 13a-14(a)/15d-14(a) Certifications:
                      31.1 - Certification by Principal Executive
                             Officer
                      31.2 - Certification by Principal financial
                             and accounting officer
                 Sec. 906, Sarbanes-Oxley Act, Certifications:
                      32.1 - Certification by Chief Executive
         	             Officer
                      32.2 - Certification by Chief financial and
                             accounting officer


CONTROLS AND PROCEDURES

     Evaluation of disclosure controls and procedures.  The
Chief Executive Officer serves as the principal operating
officer and in such capacity supervises, directly or indirectly,
the daily operation of the Trust and its investment properties.
The Controller serves as the chief financial officer and
principal accounting officer and in such capacity supervises,
directly or indirectly, the accounting and financial operations
of the Trust and its subsidiaries.  The centralized and compact
management structure of the registrant provided, as of September
30, 2003, adequate and effective disclosure control.

     Changes in internal controls.  During the quarter ended
September 30, 2003, there was no change in the Trust's internal
controls over financial reporting that has materially affected,
or is reasonably likely to materially affect, the Trust's
internal control over financial reporting.


MANAGEMENT REPRESENTATIONS

     The information furnished in this report, while not
audited, includes all adjustments, in the opinion of management,
necessary for a fair representation of the financial position of
Century Realty Trust at September 30, 2003, and December 31,
2002, and the results of its operations and its cash flow for
the three months and nine months ended September 30, 2003, and
September 30, 2002, in accordance with accounting principles
generally accepted in the United States consistently applied.
The interim results reported are not necessarily indicative of
expected results for the full year, and should be considered in
conjunction with the audited financial statements contained in
the Trust's 2002 annual report.


SIGNATURES

     Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.


                                   CENTURY REALTY TRUST



Date_____________                   By_/S/_______________________
                                      John I. Bradshaw, Jr.
                                      President and Treasurer





Date_____________                   By_/S/_______________________
                                      David F. White
                                      Controller

EXHIBIT 31.1

CERTIFICATION

I, John I. Bradshaw, Jr., Principal Executive Officer of Century
Realty Trust, certify that:

I have reviewed this quarterly report on Form 10-Q of Century
Realty Trust;

Based on my knowledge, this quarterly report does not contain
any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of
the circumstances under which such statements were made, not
misleading with respect to the period covered by this quarterly
report;

Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly
present in all material respects the financial condition,
results of operations and cash flows of the registrant as of,
and for, the periods presented in this quarterly report;

The registrant's other certifying officer and I are responsible
for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as
defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and have:

a)  Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made
known to us by others within those entities, particularly during
the period in which this quarterly report is being prepared;

b)  Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;

c)  Evaluated the effectiveness of the registrant's disclosure
controls and procedures and presented in this quarterly report
our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by
this report based on such evaluation; and

d)  Disclosed in this quarterly report any change in the
registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter that
has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial
reporting; and

The registrant's other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over
financial reporting, to the registrant's auditors and the audit
committee of registrant's board of directors (or person
performing the equivalent functions):

a)  All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize and report financial
information; and

b)  Any fraud, whether or not material, that involves management
or other employees who have a significant role in the
registrant's internal control over financial reporting.


Date:  November 13, 2003	     _/S/_John I. Bradshaw, Jr._______
                                         President
                                        (Principal Executive Officer)



EXHIBIT 31.2

CERTIFICATION

I, David F. White, Principal financial and accounting officer of
Century Realty Trust, certify that:

I have reviewed this quarterly report on Form 10-Q of Century
Realty Trust;

Based on my knowledge, this quarterly report does not contain
any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of
the circumstances under which such statements were made, not
misleading with respect to the period covered by this quarterly
report;

Based on my knowledge, the financial statements, and other
financial information included in this quarterly report, fairly
present in all material respects the financial condition,
results of operations and cash flows of the registrant as of,
and for, the periods presented in this quarterly report;

The registrant's other certifying officer and I are responsible
for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as
defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and have:

a)  Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the
registrant, including its consolidated subsidiaries, is made
known to us by others within those entities, particularly during
the period in which this quarterly report is being prepared;

b)  Designed such internal control over financial reporting, or
caused such internal control over financial reporting to be
designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;

c)  Evaluated the effectiveness of the registrant's disclosure
controls and procedures and presented in this quarterly report
our conclusions about the effectiveness of the disclosure
controls and procedures, as of the end of the period covered by
this report based on such evaluation; and

d)  Disclosed in this quarterly report any change in the
registrant's internal control over financial reporting that
occurred during the registrant's most recent fiscal quarter that
has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial
reporting; and

The registrant's other certifying officer and I have disclosed,
based on our most recent evaluation of internal control over
financial reporting, to the registrant's auditors and the audit
committee of registrant's board of directors (or person
performing the equivalent functions):

a)  All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize and report financial
information; and

b)  Any fraud, whether or not material, that involves management
or other employees who have a significant role in the
registrant's internal control over financial reporting.



Date:  November 13, 2003          /S/_David F. White_____________________
                                     Controller
                                    (Principal financial officer and
                                     principal accounting officer)



EXHIBIT 32.1

CERTIFICATION

In connection with the accompanying Quarterly Report of the
Trust on Form 10-Q for the period ending September 30, 2003, I,
John I. Bradshaw, Jr., Chief Executive Officer, President and
Treasurer of the Trust, certify, pursuant to 18 U.S.C Sec. 1350,
as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of
2002, that:

	1)  The Report fully complies with the requirements of section
13(a)of the Securities Exchange Act of 1934; and

	2)  The information contained in the Report fairly presents, in
all material respects, the financial condition and results of
operations of the Trust.



				/S/_________________________________
                                   John I. Bradshaw, Jr.
                                   Chief Executive Officer, President
                                   and Treasurer



EXHIBIT 32.2

CERTIFICATION

In connection with the accompanying Quarterly Report of the
Trust on Form 10-Q for the period ending September 30, 2003, I,
David F. White, Controller of the Trust, certify, pursuant to 18
U.S.C Sec. 1350, as adopted pursuant to Sec. 906 of the
Sarbanes-Oxley Act of 2002, that:

	1)  The Report fully complies with the requirements of section
13(a) of the Securities Exchange Act of 1934; and

        2)  The information contained in the Report fairly
presents, in all material respects, the financial condition and
results of operations of the Trust.



				/S/_________________________________
                                   David F. White
                                   Controller (chief financial officer
 	                           and principal accounting officer)