Sales volumes continue to be the challenge. Off almost 10% compared to March 2012 however, up almost 75% over this February (which had 3 days less selling activity).
The average selling price for a detached 2-storey home remains high at $938,000 and way ahead of last years $844,000.
41 homes that sold above $1,000,000. Pretty impressive. We normally see more expensive home sales activity in the low twenties each month.
Time to sell was a very respectable 4 weeks or, 28 days on average. Many properties sold in less than 2 weeks, similar to last March. Some of the stragler's (properties) kept the average DOM from being much lower.
The rental market was also frisky with 74 rental sales up from last month and March 2012.
Some financial institutions are offering five year mortgage money at a very low 2.79%. Hard not to take a mortgage.
