Although some market segments and neighbourhoods are having their own challenges, the market was relatively good over the last week with stable sales, stable prices, and even a slow down in the growth of inventory. All good news for home sellers! Buyers may want to jump off that fence sooner rather than later. With interest rates starting to rise and a steady, if not exciting, flow of sales the market may shift more in the favour of sellers soon.
Over the last 30 days, 274 single family houses were sold, down by 1 houses from last week. The median price is up $10,250 to $565,250. The average house was on the market for 36 days.
In the same time period, 143 condos were sold, up by 10 condos from last week. The median price is down $1,500 to $273,500. The average condo was on the market for 47 days.
There are now 1,902 houses for sale, up by 10 from last week. Condo inventory has fallen by 19 to 938 suites.
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