Although the market has slowed down we are still seeing sales occur, 50 detached 2-storey homes sold during the month along with 10 bungalows and 17 condo apartments.
On the rental side there were 88 homes and condos leased ranging in price from $2200-$5000/mth with 2 fancy downtown condos fetching almost $15000/mth. That's down from 100 transactions a year earlier. Investors are achieving top dollar from their rental properties.
Detached 2-storey homes are holding on to the $2.1mm & $2.2mm average selling range and were up by almost 3% year over year to $2207000 as well as June 2022 average selling price of $2152000.
The average detached bungalow and condo apartment went for $1509000 and $951000, respectively.
It is taking longer to sell by almost 2 weeks and those sellers who do sell are having to price their properties sharply to achieve a sale in a reasonable time period.
The good news is that the market is still up when comparing sale prices to a year ago but with high inflation and more increases in interest rates on the horizon it stands to reason that sale prices will drop further.
