The softness continues. Sales volumes were down from the first quarter as well as year over year.
The average price of a detached 2-storey home was $1,290,000, down 10% from the first quarter of 2018's $1,421,000 and down 17% from the second quarter of 2017 when the average sale price was $1,511,000.
Sales volumes were down over 80% for 2nd quarter year over year and down over 50% from the first quarter 2018. Many would be seller's are sitting on the sidelines.
It took slightly more than a month to sell your home or condo so the time it takes to sell is creeping up.
There were 155 rental sales ranging from $1,100/mth for a Bronte basement apartment in a detached bungalow in Bronte to $8,500 for a Southeast Oakville executive home. At the moment there are 83 rentals available ranging from $1,300 to $10,000/mth.
The market will remain soft til September which is normal. Hopefully interest rates will not be increased as expected, and will have to see what the fall market unveils. The good news is the fall market can be very good.
