August had 116 sales and 84 properties leased. Not bad considering it's a prime vacation time and has been an overall slower market.
The average price of a detached 2-storey home was $2,176,711 up almost 7% from August 2023.
Other types of home sale averages are as follows;
Detached bungalows $2,109,214
Sidesplits $1,725,000
Backsplits $1,145,000
Condo apartments. $867,909
Condo THs $902,286
Freehold THs $1,470,056
Stacked THs $653,333
Semi-detached $1,220,000
Linked homes $1,215,000
A number of the freehold sales were for land/new build purposes. A Southwest 1/4 acre lot sold for $1,725,000. A Southeast 1/3 acre lot sold for $2,825,000. An almost 1 acre court location SW lot sold for $3.5mm.
The number of lease transactions was similar to the 86 that were leased in August 2023.
The upcoming interest rate reductions should improve sales volumes and edge prices upwards. So if you are thinking of buying this may be a good time ot enter the market. And if you are thinking of selling, there will likely be more buyers out shopping and the Fall has proven to be a pretty time to showcase your home. Happy selling!
