October 2012

There has been a noticeable slowdown in the market recently and the year over year numbers support that with 10% fewer sales this October over last with 239 sales. The average time on the market took about a week longer at 35 days.

The average price for a detached 2 storey home was $948,500 with 33 properties selling for more than $1,000,000, most of those were for 2 storey homes.

We had 70 rental transactions during the month of which 16 were for condo apartments.

Financing remains attractive at justy above 3% for 5 year mortgage loans and in the 2.60% range for variable rate mortgage loans.