November finished off with 254 sales with an average sales price of $503,000 (all types of housing). That was double the sales volume of November '08 and more than the 245 sales in November '07. The average time it took to sell was 29 days.
2-storey detached home sales average price was up 3% to $791,000 over last months numbers.
There were 27 condo apartment sales at an average price of $640,000. The highest condo apartment sale was almost $2.2 million. Condo apartments took a little longer to sell than detached homes with an average of 44 days on the market.
There were 8 condo apartment rentals during the month all leasing in the $1,200 to $1,500 range.
Mortgage money remains attractive with 5 year money hovering 4% & variable rate money can be had slightly below prime at 2.15%. Higher rates will be heading our way during the latter half of 2010 and continue with moderate increases in 2011. Sellers will also be face with added costs when the HST takes effect on July 1, 2010.
