At the moment we have 462 properties for sale (all types) compared to 348 a year ago. Buyers now have more choice and in most cases more time to make a decision on average. While many markets are balanced, most sellers are having to be more patient and realistic when setting their asking prices. Some sellers have attempted setting a below market list price to induce multiple bids without success while others sold their homes as expected.
It's nice that interest rates have flat-lined for awhile but don't look for any relief/reductions until the second half of 2024. And in the interim expect a bumpy ride.
Prices have performed as follows;
Oct 2023 Oct 2022 % Change
Detached 2-storey $2169150 $1866655 +16
Detached bungalows $1718272 $305000* - 77
Semi-detached n/a $1050000
Link n/a n/a
Freehold THs $1287875 $1186176 +8.50
Condo THs $793750 $1053000 -32
Condo apts $813444 $899652 -10
* only 1 bungalow sold in October 2022 and down slightly from September 2023 $1757000 average.
A year ago October saw 63 properties lease, Sept 2023 had 46 and this October 2023 79.
