HAPPY NEW YEAR!
It appears that the Omicron variant will become more of a concern as we roll through the Winter months given the recent daily increases in infections. And more cases are expected even as the country clamps down once again on social activity. Thankfully most of the population have had 2 vaccines and many are eagerly awaiting their booster shot. We all must act responsibly.
Real Estate has continued to be active with selling prices still increasing and inventory remains low. Business will continue on a more stringent Covid-19 showing protocol especially during the temporary lock down period.
Detached 2-storey and bungalows rose 31% and 16%, respectively to $2375000 and $1619000.
There were 95 sales during the month for all types of housing (condo's...) and it took almost 2 weeks to sell them. Detached 2-storeys made up 30 of those sales and only 3 bungalows changed hands during the month.
The rental market is in line with last year's sales volume with approximately 50 leases.
Royal LePage predicts 2022 price increases in the 8-10% range in many neighborhoods in Canada.
Stay safe!
