The Summer market is now established and showing the trend of increasing inventory and decreasing sales that we would expect. On one hand, you could say that these two factors make it harder for sellers to find a buyer. If your listing is stale and overpriced, then you are exactly correct. However, with the average days on market still relatively short at 44 days we can also see that the new listings that are well priced are definitely selling. Even though there is lots of choice for buyers, many of those listings are quite stale, providing serious sellers a real opportunity.
Over the last 30 days, 265 single family houses were sold, down by 5 houses from last week. The median price is up $11,000 to $546,000. The average house was on the market for 44 days.
In the last 30 days, 140 condos were sold, down by 14 condos from last week. The median price is up $3,350 to $277,100. The average condo was on the market for 42 days.
There are now 2,516 houses for sale, up by 16 from last week. Condo inventory has fallen by 13 to 1133 suites.