Market Insights

We hope you've been enjoying the Fall season and the warm weather we've been lucky to have. This month, we've noticed a positive change in the market in some areas.

We hope you enjoyed the Thanksgiving long weekend and were able to spend some time with friends and family. The leaves are changing and the housing market continued its adjustment to higher borrowing costs in September 2022.

We hope you enjoyed a fabulous summer. As the weather is changing and everyone is getting back to school and fall routines there is always an interest as to what is happening in the Real Estate market. This month we are excited to share that Buyer confidence is back on the rise based on number of sales across all home types.

Overall the average sale prices and inventory are up, albeit number of sales are down year over year. Market conditions remained balanced in July compared to a year earlier.

Summer is officially here and we hope you are enjoying the great weather and family holidays. Although prices have decreased on a monthly basis, we are still seeing a positive increase when it comes to the average sale price.

While the summer temperatures are heating up, the housing market is shifting from the highs experienced earlier this year to a more balanced market.

Based on trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation.

We are currently experiencing a shift in the market specifically when it comes to multiple offers on offer night. Less offers are being presented and some properties not receiving any offers at all. As a result homes are being relisted with a price change.

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