Steady would definitely be the word of the week for me! Prices are not shooting up, or down. Volume is increasing as is usually does at this time of the year, but not dramatically.
Single family homes are selling well. Sales are the busiest that they have been so far this year with the expectation that they will continue to pick up. The number of homes sold is still down 5% from this time last year with prices off by the same amount. As I have been saying every week for the last few weeks, price your home well and it will sell. Ask just a little too much and you will surely be passed by for those better deals that are out there!
The condo market is also picking up, but not nearly as strongly, and in fact seems to have plateaued these last few weeks. Last year at this time the market was still picking up. The net result is that the number of condos sold is now well off of last year, down about 13%. Prices are down as well, but by only a percent or two. Condos are also very price sensitive so make sure that if you have a condo to sell, that you price it sharply!
Over the last 30 days, 261 single family houses were sold, up by 11 houses from last week. The median price is up $500 to $525,000. The average house was on the market for 36 days. In the same time period, 116 condos were sold, down by 7 condos from last week. The median price is up $9,250 to $273,250. The average condo was on the market for 60 days.
There are now 1,960 houses for sale, up by 19 from last week. Condo inventory has risen by 14 to 944 suites.
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