KNEE-DEEP IN THE HEART OF SUMMER – SALES ACTIVITY IS PREDICTABLY SLOW!
In total, just 13 properties SOLD this past week, that’s DOWN 2 sales (15) from the previous week, but down a whopping 16 home sales (29) from the same period one year ago. The highest priced transaction was a single-family home in the Wiltse/Valleyview neighbourhood which sold for more than $1.4 million. The difference between the listing price and the negotiated sales price for ALL homes SOLD this past week ended up at 95%, and ONLY 1 of the 13 properties sold “AT OR OVER” there asking price. Inventory levels continue to RISE with 307 homes (of all types) on the market right now compared to 206 homes this time last year. That’s an increase in inventory year over year of 49% – A VERY WELCOMED TREND! We’re now working on four straight months where inventory levels are trending higher than the previous year. This confirms for me that the housing market will be back to a “BALANCED” state before the end of summer.
Here are the SALES by property type for the 15 properties SOLD this past week (August 8 – August 14). Breakdown is as follows:
- 1 Townhome
- 2 Condos
- 3 Mobile Homes
- 7 Single Family Homes
- 2 Condos
- 3 Townhomes
- 4 Mobile Homes
- 8 Single Family Homes
CONNECT WITH SHANNON SIMPSON