The average price of freehold properties declined by 10.5 per cent from April 2017; the average sale price in the condominium market decreased by less than one per cent compared to the same period.
Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a local REALTOR® for information about your specific neighbourhood or property.
“With the sales-to-new-listing ratio at about 56 per cent in the residential market, we are at the higher end of a balanced market,” added O’Neill. “However, with between only two and two-and-a-half months of inventory, it would not take much to move closer to a seller’s market through the spring.”
The average number of days on market rose to 26 days from 14 days in the freehold market and increased to 29 daysfrom 15 days in the condominium market, compared to the same month last year.“In general, there is more time to view and compare properties than last year at this time,” noted O’Neill, “soengaging a local REALTOR® should be part of every seller’s and buyer’s strategy.”
“In general, there is more time to view and compare properties than last year at this time,” noted O’Neill, “soengaging a local REALTOR® should be part of every seller’s and buyer’s strategy.”.
Every community in RAHB’s area has its own localized characteristics that influence that market. Please ensure youcontact a local RAHB REALTOR® for professional advice.