As we get deep into Summer, we are seeing the traditional slow down in the market that comes with the vacation season. This year, we are also seeing the first time buyer market negatively affected by the recent mortgage rules changes. The statistics make it quite clear that many of these buyers are staying on the sidelines for now
Over the last 30 days, 225 single family houses were sold, down by 28 houses from last week. The median price is up $10,000 to $555,000. The average house was on the market for 46 days.
In the last 30 days, 118 condos were sold, down by 17 condos from last week. The median price is down $19,000 to $266,000. The average condo was on the market for 48 days.
There are now 2,464 houses for sale, up by 07 from last week. Condo inventory has risen by 7 to 1128 suites.
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