While I’m not quite ready to admit that summer is over just yet, it certainly appears that September is geared up to leave the summer real estate doldrums behind. If the first week is any indication, it will be a busy fall season with a healthy influx of new listings and many buyers chomping at the bit to take advantage of lower prices, better selection and continually low interest rates.
Taking a look back at the August numbers, sales were predictably lower than July with inventory numbers leveling off. Prices showed an odd spike in both the attached and detached market, though I suspect that is primarily due to a lower number of overall sales and the higher value of the more desirable homes that did sell. I expect both market segment to balance out again in September as the sales activity picks up.
Enjoy the sun while we have it and check out the Average Sales Price and Inventory charts after the jump.
Looking at the year-over-year numbers, sales activity was similar to past 2 years for detached and attached homes, while condos sales slipped 35%. Listing inventory climbed across all three segments, while prices dipped 15% for detached, 8% for attached and 4.5% for condos.
On a side note, for any of you looking to for property information on the go, check out www.livekitsilano.com from any smartphone to view full property details for any homes nearby.
Average Sales Price