Sales volumes continue to be a drag on the market.
For those that did have to sell, the market sure has been positive. Although sales volumes were less than half 2019 at 184 sales compared to 400 for all types of housing, the average sale price for a detached 2-storey home was up 15% during the quarter to $1,559,000. The time it took to sell a home was about the same as last year at less than 30 days.
In particular, June's activity was very busy with several properties receiving multiple bids. The average price for a detached 2-storey home increased a whopping 16% to $1,717,000 compared to June 2019's $1,470,000.
Among those sales 30 homes sold over $2,000,000 and a dozen of those sold above $3,000,000.
The cold Spring did keep many buyer's and seller's on the sidelines well into the second quarter and the somewhat improved COVID-19 environment has also contributed to the added excitement in the market with families deciding to go ahead with their plans. Foreign investment is also helping out these increases.
We will likely see this hot market continue over the first half of July and then soften until the Fall.
