Over the last 30 days, 298 single family houses were sold, down by 12 houses from last week. The median price is down $1,000 to $568,500. The average house was on the market for 35 days.In the same time period, 130 condos were sold, up by 15 condos from last week. The median price is up $2,600 to $297,500. The average condo was on the market for 34 days. It was an excellent week for condo sales reversing a declining trend. It is too soon to tell, but it would be great for sellers and buyers if this section of the market stabilized.
There are now 2,194 houses for sale, up by 8 from last week. Condo inventory has fallen by 8 to 1097 suites. Inventory remains at a high level and is still increasing. High inventory = more competition. If you have a property to sell, you need to be sharp in your pricing or your property will languish on market.
