Wednesday, October 3, 2012

September 2012

The average price for a detached 2-storey home was up 12% to $874,000 over September 2011. This amount is down somewhat from last month (August 2012) but still remains historically high.  August 2012 had more/32 properties sell above $1 million dollars or, about 30% more, which has led to the month to month drop in average price.

Million dollar property sales volumes were up almost 40% with 25 sales compared to 18 a year ago.  They range in price from as low as $1,010,000 to just under $3 million dollars. Most of those (21)were for detached 2-storey home sales.  One of those 25 sales was for a centrally located condo apartment and 3 were for centrally located Freehold THs. 

The time to sell homes and apartments took on average a little less than a month or, 29 days.

Financing remains attractive with 5 year mortgage money available as low as 3.09% and one, three and five year variable money is available at 2.60%.

The rental market remained very active with 79 leases during the month ranging in price from $1,000 to $8,000 a month. 19 of those were for condo apartments which leased between $1,200 and $2,550 a month. At the moment, the rental market is hotter than the resale market.