Unfortunately today the Bank of Canada increased interest rates again, in an attempt to slow down the economy and bring inflation down. This news just came as the real estate market was starting to take off. Looking ahead to the June real estate market we don’t know how it will be impacted, but one can assume that the numbers we saw in May likely will not happen in June. The great thing about real estate is that people always need a home to live in, people will always be buying and selling, prices just change.
Total Sales Sales 569 New Listings 1103 Current Inventory 2,335 Median Days to Sell 32 Average Days to Sell 49 Months of Inventory 4.1 Average Sale Price $874,928 Median Sale Price $775,000 Total Volume Sold $497,833,876
Single Family Sales 263 New Listings 590 Current Inventory 1176 Median Days to Sell 34 Average Days to Sell 48 Months of Inventory 4.47 Average Sale Price $1,196,874 Median Sale Price $1,045,000 Total Volume Sold $314,777,823
Townhome Sales 97 New Listings 144 Current Inventory 262 Median Days to Sell 29 Average Days to Sell 42 Months of Inventory 2.7 Average Sale Price $705,962 Median Sale Price $685,000 Total Volume Sold $68,478,300
Apartment Sales 143 New Listings 251 Current Inventory 487 Median Days to Sell 31 Average Days to Sell 52 Months of Inventory 3.41 Average Sale Price $524,882 Median Sale Price $462,500 Total Volume Sold $75,058,077
