I hope everyone is having a chance to enjoy some of the warm Summer weather we are having. As we navigated our way through Spring’s Residential Real Estate market, generally the busiest time of year for the buying and selling of homes, June’s numbers came very positive.
Inventory numbers were down just over 5% over June last year with the volume of trades up over 9% demonstrating a rebound from the trough in the market we experienced in the late Spring and early Summer of 2017. Prices continue to rise steadily, up over last June by 3%. This is a result of the steady inventory numbers of just over two months.
The condo market continues to show resilience, however the number of sales were down slightly over last June by 3.8%. Prices continue to rise, up 5.2%, showing that demand for more affordable housing, like condominiums, still remains strong.
If you are considering buying or selling, now is a great time as inventory levels are at a point which is allowing buyers a little more choice with prices appreciating at a pace which is healthy and sustainable.
Please reach out to me with any of your real estate questions.
Karen
