The Fall market is playing out as it usually does with the volume of sales remaining strong for houses and even recovering, somewhat, for condos. If you are considering selling a property before the winter slowdown, you really need to get moving and get your property on the market sooner rather than later. October and November are usually great months to find a buyer, but by mid December the market does quiet down. Stronger sales volume, over 10% ahead of this time last year, combined with dropping inventory means that you have an excellent chance of finding a buyer in the next couple of months.
However… If you are serious about selling your property, be very careful with your pricing! Properties are selling specifically because prices are slightly lower than in previous years. Price your property too high and you will just be helping the neighbours sell theirs. Price it right, and you will find a buyer!
Here are the raw stats:
Over the last 30 days, 268 single family houses were sold, up by 13 houses from last week. The median price is up $2,500 to $540,000. The average house was on the market for 50 days. In the last 30 days, 105 condos were sold, up by 3 condos from last week. The median price is up $14,000 to $275,000. The average condo was on the market for 45 days.
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