The torrid pace continues

There were 402 sales in May. 192 of those were for detached 2 storey homes. The average selling price for a 2 storey home was $897,000.  That was consistent with the prior 2 months but way above
May 2011's $794,000 average selling price. A 13% increase!

50 homes sold above one million dollars. The average time on the market for all types of housing was 27 days.

91 rental properties rented. 19 0f those were for condo apts which all rented in the $1200-$2,000/mth range.

Borrowing costs virtually remained unchanged with the best 5 year mortgage money offered as low as  3.19% & 3 & 5 year variable money offered at 2.90%.