The average sales price for a two storey home during September was $736,000. Condo apartments took 40 days on average to sell or, a week less than September 2008. Sales volumes for all types of housing was up 35% with 304 sales compared to 225 a year ago. 126 of the 304 sold in 2 weeks or less.
Home sales above a million dollars took 3 weeks longer to sell than during September 2008. The average length of time on the market was 89 days however, there were almost twice as many sales, 17 versus 9.
Condo apartment sales volume for September remained about the same with 28 sales compared to 30 a year ago, but sold a week faster averaging only 40 days on the market.
Rental properties took a week longer to sell on average and the number of sales remained the same with 62 compared to 63 last year.
Similarily, borrowing costs are still extremely attractive. Prime remains at 2.25%. 5 year money can be had for as low as 3.84% and the best variable rate money is 2.35%.
We still have alot of people waiting for the right homes to come along so we may see this activity continue as long as new listings keep coming to market.
