Prices Rise as Resale Market Continues to Favour Sellers
There are fewer than normal new listings at a time when sales volume is increasing. Inventory levels are 17% lower than levels recorded in 2012. These 2 factors are creating market conditions that favour the seller, causing stronger than expected price growth. Buyers need to have financing in place so they can act quickly when they see the right property.
The detached benchmark price for May is $456,900 an increase of 6.88% year-over-year. The apartment benchmark price is $263,600 an increase of 7.42% and the attached benchmark price is $292,100 an increase of 5.45%. Overall sales for the month totaled 2,544 units, compared with 2,381 during the same period last year.
Call Jeff Campbell 403-275-3331