Like last year at this time both sales and leases took longer to complete. And they still do. The frigid temperatures did not help increase showing traffic.
The rental market had 290 leases down from 307 a year ago ranging in price from below $1,000 a month for a small basement apartment ( of which there were several this month) to $15,000 a month for a luxury home in the Morrison area of Southeast Oakville
The luxury segment took somewhat of a pause as well with only 14 properties out of the months 150 sales exceeding the two million dollar mark.
The average price of a detached 2-storey home was $1,995,571 down 12% from a year ago with 49 homes changing hands. Bungalow style homes average sale price was $1,236,667 down 37% with 6 sales.
Other styles of housing results were as follows;
Condo apartments came in at $573,583 Condo THs $801,800 Freehold THs $1,420,555 and semi-detached averaged $1,037,100. A bright spot was both the condo and freehold THs were up year over year.
There were no link home sales and stacked THs came in at $592,500.
The tariff saga still remains unresolved and now we await to see what repercussions may be from the recent US attack on Iran. There has been positive press releases, so we shall see.
Expect to see more activity as the weather improves as more buyers and sellers get on with their plans and enter the market.
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