The number of detached houses that have sold is still increasing! After last weeks great result, I was concerned that it was an anomaly, but this week the sales were even stronger! Speaking for our many sellers, we are all very pleased to see the volume of sale now 8% ahead of this time last year. Keep in mind, though, that pricing is still well behind last year and the year before. You have a great chance of finding a buyer, but you will need to price your property accurately, at a level probably lower than you expect.
The condo market, on the other hand, is still not very healthy! The volume of sales is well below par, down by about 22% from last year. If you have a condo to sell, make sure that it is promoted very well so that it stands out from the rest! Pricing is also key and I believe one of the reasons that many properties are not selling
Here is the data:
Over the last 30 days, 327 single family houses were sold, up by 23 houses from last week. The median price is up $3,881 to $542,150. The average house was on the market for 30 days. In the same time period, 134 condos were sold, up by 1 condos from last week. The median price is unchanged at $275,000. The average condo was on the market for 53 days.
There are now 2,140 houses for sale, up by 34 from last week. Condo inventory has risen by 11 to 946 suites.