We have been waiting a long time for this, and we finally have a more balanced market. After many months of high listings and low sales we have seen an increase of home sales and days on market are less.
Sales of detached homes in September 2019 reached 745, a 46.7 per cent increase from the 508 detached sales recorded in September 2018. The benchmark price for a detached home is $1,406,200. This represents an 8.6 per cent decrease from September 2018 and is virtually unchanged compared to August 2019.
Sales of apartment homes reached 1,166 in September 2019, a 43.6 per cent increase compared to the 812 sales in September 2018. The benchmark price of an apartment property is $651,500. This represents a 6.5 per cent decrease from September 2018 and a 0.4 per cent decrease compared to August 2019.
Attached home sales in September 2019 totalled 422, a 53.5 per cent increase compared to the 275 sales in September 2018. The benchmark price of an attached home is $767,500. This represents a 7.2 per cent decrease from September 2018 and a 0.6 per cent decrease compared to August 2019.
As I drive around town I notice that some for sale signs that have been up for months now have SOLD stickers. I notice that when I am trying to make appointments for showings that more homes have accepted offers or are sold. Fall is a great time to sell and I think that missing the Spring market this year will make for a stronger end to the year. I guess we will see what the last quarter results are but can feel the demand rising.
I have attached the detailed news release below. If you would like a more detailed package email me at carolyncowe@shaw.ca and I can put you on my monthly report.
| Attachment | Size |
|---|---|
| REBGV-Stats-Pkg-September-2019.pdf | 456.48 KB |