Last week I reported that there was good activity, but not that many actual firm deals on paper. A week later, as you would expect, that buyer activity is now turning into sales. Sales volume for both condos and detached homes is up over last week and definitely trending in the right direction. But, it is extremely important for sellers to note that the market remains very price sensitive. If you are considering selling, you absolutely must price your property at the current market price or buyers will pass it over for those other listings that are more attractive.
It may be more or less a balanced market, but there are enough savvy sellers that less attractively priced properties will not sell. Please don’t read me as being pessimistic here. More and more properties are selling and there are lots of buyers in the market for properly priced properties.
Over the last 30 days, 154 single family houses were sold, up by 19 houses from last week. The median price is down $12,000 to $524,500. The average house was on the market for 55 days.
In the same time period, 101 condos were sold, up by 9 condos from last week. The median price is up $5,000 to $270,000. The average condo was on the market for 80 days.
There are now 1,563 houses for sale, up by 55 from last week. Condo inventory has risen by 19 to 848 suites.
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