Monday, August 3, 2020

July 2020

The average price of a detached 2-storey home was up just over a point to $1,455,700.  So prices really haven'y moved that much.  Sales volumes moved in concert with sales prices with 11 more  this July than July '2019's 141 2-storey home sales. A slight increase.

A number of homes have attracted multiple bids, selling quickly and above their asking prices.  These properties tend to be priced below $1,300,000.

The majority of homes priced above the $2,000,000 tend to languish on the market before finding a buyer and usually experience a few price reductions before finally selling.  A few though have sold quickly.

The average time it takes to sell a home is 24 days.  The market has been very busy for this time of the year (normally vacation time) with a lot of buyer's out looking.  We will see if this activity continues through August.

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