Number of Sales are down 50% compared to June of 2016
New listings are up 22% compared to June of 2016
Average Sales Price is up 6.7% ($808,847) compared to June of 2016
And, “Sales to new listings” ratio is at 30%
In simple terms, this means we are transitioning into a balanced market. (The Condo market however remains relatively tight and had a growth rate of 25.5%.)
For Buyers, this is a great window of opportunity to get into the market. Your dream home may have become more affordable and you have more choices and more time to make the right decision. This home may also be someone else’s dream home so you will need proper representation and a defined plan to get you into your dream home.
For Sellers, your agent matters more than ever now. You want to make sure your biggest asset is being handled professionally, by someone experienced and with a proven track record to get you top dollar in today’s market.