Hello again,
Just like September 2022 we saw a number of properties that had not been selling during the summer, sell this month. And a few ultra high-end sales were included in those sales.
Year over year the numbers went like this;
2022 2023 Approx % change
Detached 2-storeys $2164500 $2089020 -5%
Detached bungalows $1666105 $1757250 +5%
Condo apartments $991810 $810500 -22%
Condo THs $928125 $1035555 +11%
Freehold THs $1318461 $1153974 -14%
Semi-detached $1151375 $1158250 +1%
Link homes were not active this month.
The average time it took to sell a home was 22 days a couple of days faster that a year ago. So pretty good all things considered.
46 properties were leased during the month down from 58 a year ago and ranging in price from $2175 to $6700, the latter was for an executive home w/pool in Glen Abbey. Eighteen of those leases were for condo apartments which had an average monthly rental rate of $2768. Keep in mind that condo fees are usually buried in that number.
The market may cool off a little faster this year given the recent poor performance of the stock markets and the potential of another interest rate bump. That said there are always people with life changing circumstances that can lead to a change in residence at any time of the year.
