The real estate market is still sizzling and those homeowners who have decided to sell now continue to do extremely well.
The number of detached 2-storey home sales volume was up 37% (third quarter over third quarter) with 459 sales transactions. The average detached 2-storey home sale price was up 15% from August '20 to $1948800. WOW! The ultra luxury sector has contributed greatly to this extraordinary increase.
And of course homes continue to sell quickly, many in just a few days and with multiple bids.
Mortgage financing remains very attractive and at historical lows with 5 year mortgage money and variable mortgages both available at 1.85%.
Rental activity was quiet compared to other years with just 31 transactions during the month. The cheapest was $1500/mth for a basement apartment in Falgarwood. The most expensive was $4900 for an executive home in Glen Abbey.
I think this activity will continue this month and will start to wind down in November.
The housing market is proving to be a good place to park your cash for many investors given the low yielding financial market product alternatives.