The market seems quieter than it is with a 10% drop in sales volumes year over year along with a 3% price increase. The average detached 2-storey home sold for $934,000 in June, down from this May's $974,000 average price but up from June 2012's $910,000. Also it is taking longer to sell homes with 36 days being the average for a detached 2-storey home.
The rental market is about the same with 81 sales during the month. Million dollar home sales is also about the same with 38 sales versus 37 in June 2012.
Financing remains low with 5 year variable at 2.60% & closed at 3.39%. The closed rate is edging up from the recent below 3% range.
