
April Market Minute
Not a lot of change in the status of our Real Estate Market from March to April. We are still dealing with uncertainty, and that is well reflected in the market’s behaviour.
The number of sales written in April was 653. Year to date, that’s down almost 20% from last year, yet market pricing remains relatively stable. The median selling price came in at $605,000, up a touch, but we have been in the $580-$620 range for well over a year now. Active listings are starting to accumulate as they typically do this time of year. Last month we had 2891 active listings, or 4.4 months of inventory; still a relatively balanced market, in spite of the side show south of the border. Well, the election is behind us.
Let’s hope we can move towards a workable deal quickly with the powers that be to get things moving again in the right direction. Fingers crossed!
If you have any questions on this market update or any other Real Estate issue feedback and comments are appreciated and will be responded to.
