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Again, just like in February, sales activity reached a monthly high and also hit new all-time record high for any given month. Gains happened across all property types and they all hit new all-time record highs. 

An increase in new listings this month helped the growth in sales activity but inventory has remained low, ensuring the continuation of the sellers market.


With an unadjusted benchmark price of $518,600 this month, the monthly gain increased by another four per cent. After three consecutive gains, prices have risen by nearly $55,000 since December and currently sit nearly 18 per cent higher than last year’s levels. 

Despite the strong start to the year, price gains and rising lending rates are expected to weigh on demand in the second half of this year. Nonetheless, persistently tight conditions will likely continue to impact the market over the next several months.

Contact me to discuss how this impacts your buying or selling decision! 

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August sales reached 2,151 units which is a 37% increase from last year.

Sales have slowed but when looking at the year-to-date sales, the eight-month total of 19,516 sales is higher than annual sales figures recorded over the past six years. 



The months of supply in August was nearly three months. This is an improvement but conditions remain far tighter than usual. Some improvements in supply compared to sales have been slowing price growth.


As of August, the total residential benchmark price was $459,600, slightly lower than last month, but over 9% higher than last year.


The price gains have ranged by product type, with the highest gains occurring in the detached sector of the market.

Contact me with questions as to how this affects your buying or selling decision!

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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