Residential Sales: Residential Sales rebounded a little from the September drop in sales. Relatively unchanged
Homes Sold Under and Above the Median Price ($550,000): We again see strength in the under median priced homes with 62% of the total market. Substantial weakness in the over $1M market with only 12 sales for the month.
Average Sales Price, both Annually and Monthly: Both the annual and monthly average sales prices slid slightly from last month and almost 11% from last year.
Most Popular Style of Home in September: The most popular styles of home were bungalows and 2 storey homes, but both dropped in price in October. Prices were up in all other categories.
Monthly Residential Sales %: Monthly residential sales compared to last year were down but much less than last month’s double digit drop.
Annual and Monthly Sales/List Ratio: An uptick in monthly sales led to a slight increase in the monthly sales/list ration but annually it remained flat.
Residential Listings: Not untypical for this time of year we’ve seen an easing of listings on the market with a slight drop for October. Expect that to continue as we move into the winter months.
Active Listings: As new listings dropped slightly, and sales were up ever so slightly, our inventory of active listing also dropped and will likely continue to drop going forward.
Average Day on the Market: Interesting to note how our average days on market dropped due to slight increase in monthly sales. Higher priced homes may take a bit longer to sell due to lesser demand.
Monthly Condominium Sales: Monthly condominium sales have normalized over the last few months and this trend should continue for at least the next month.
Royal LePage Binder is committed to providing content and data illustrating the rapid changes occurring in the #yqg market, as shown in the below downloadable PDF:
