Posted in General
INVENTORY LEVELS REMAIN OVER 25 PER CENT BELOW 10-YEAR AVERAG
There were 924 sales recorded across the province in November, a 32 per cent decline over last year’s record high. While sales continue to slow when compared to 2021, a record year, year-to-date activity remains over 16 per cent above long-term trends in the province.
The ongoing pullback in new listings continues to be driven largely by homes priced below $500,000. While new listing ...
INVENTORY LEVELS 25 PER CENT BELOW 10-YEAR AVERAGE
There were 1,144 units sold across the province in October, a year-over-year decline of 12.3 per cent. While sales continue to ease relative to 2021, a record year, October sales data reflects a year-over-year increase of 1.7 per cent when compared with 10-year averages.
The pullback in sales was met with a reduction in new listings, resulting in lower-than-average inventories for th ...
Posted in General
SALES RETURNING TO NORMAL, INVENTORY LEVELS REMAIN A CHALLENGE
Sales activity continued to trend down in September with 1,267 units sold, a year-over-year decline of seven per cent. However, as seen in August, sales levels remain consistent with long-term trends as the market returns to more balanced conditions.
New listings were relatively stable on a year-over-year basis but continue to decrease when compared to levels seen earlier this year. ...
Posted in General
SUPPLY LEVELS AT LOWEST LEVELS RECORDED IN AUGUST IN NEARLY A DECADE
August sales reached 1,466 units, reflecting a year-over-year decline of three percent. While sales continue to ease relative to last year, year-to-date sales of over 11,000 units remain well above long-term averages for the province. As supply levels in the lower price ranges continue to fall, we see a decline in sales driven largely by homes priced below $500,000.
New listings fell ...
Posted in General
HOME PRICES CONTINUE TO RISE DESPITE SLOWER SALES
June sales eased over last year’s record levels. However, with 1,808 sales this month, activity is still over 20 percent stronger than long term trends for the province.
“While sales have been trending down in the province this year, we cannot lose sight of the fact that sales levels are still amongst the highest levels ever recorded in our market and these higher relative levels are ...
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SUPPLY CHALLENGES PERSIST INTO THE SPRING MARKET
Unlike some areas of the country, sales activity in May trended up relative to levels seen earlier in the year. With 1,814 sales this month, levels are still slightly lower than last year’s record, but remain well above typical activity in May. Year-to-date sales have totaled 6,682 units, down 11 per cent from last year’s record high, but over 27 per cent higher than long-term trends.
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Posted in General
SUPPLY LEVELS REMAIN LOW CAUSING CONTINUED PRICE INCREASES
Both sales and new listings trended up this month compared to levels seen over the past few months. However, the level of new listings coming onto the market was far lower than levels seen last year and for the 10-year average. This caused the sales to new listings ratio to rise and prevented any notable change to the supply situation. With 5,648 units in inventory, levels are nearly 3 ...
Posted in General
FEBRUARY SALES EASE OVER RECORD LEVELS
February sales in the province reached 1,059, an eight per cent decline relative to last year. While the year is starting out with sales that have slowed compared to last year, it is important to note that housing demand continues to remain strong as levels are over 22 per cent higher than what we typically see at the start of the year and nearly 40 per cent higher than average levels recorde ...
Posted in General
SUPPLY CHALLENGES PERSIST INTO JANUARY
New listings in January remained well below traditional levels seen in the market in January. While levels are better than what was recorded in December, it did little to change the inventory situation as inventories remain at the lowest January levels since 2012.
January sales in the province reached 748 units, a decline over last year’s elevated levels, but still higher than lo ...
