We saw a slight improvement over last month with 214 sales. Almost up 11%. This pales in comparison to a year ago when we transacted 300 sales.
The average price for a detached 2 storey home was approximately $703,000 this August. Last year the average was $645,000, about a 9% improvement.
Days on market were about the same with 39 compared to 38 last year. As were rental sales with 88 versus 89 last year.
Even though the prime lending rate is higher this year (2.75%) 5 year mortgage money as well as variable rate money is about 30 basis points cheaper at the moment at 3.64% & 2.10%, respectively.
We are all hoping for a strong fall.
