The third quarter continued on it's torrid pace with 143 detached 2-storey homes selling in 22 days on average. Their average sale price is now $1,323,000!  The average price of a detached 2-storey in September 2015, one year ago was $1148000 a 15% increase.

There were 43 bungalow sales at an average price of $933,000 many of which were bought for in fill and new construction.

We had 196 rental transactions during the quarter ranging in price from $1100/mth for a one bedroom apartment to $9200/mth for a Southeast new build.

Financing remains very attractive with 5 year money being loan as low as 2.35% while the variable rate is 2.20%.

I expect to see the market become more balance or even a buyer's market next year as many families comtemplating selling over the next few years decide to initiate their plans earlier to take advantage of these record prices.