Here are the August 2024 numbers:
- Total number of units sold: 1,100 – increase 10.2% August 2023.
- Five-year average unit sales for August: down 11.4%.
- Ten-year average unit sales for August: down 14.1%.
“Being a seasonal market, it’s very encouraging to see sustained levels of activity throughout the whole summer,” says OREB President-elect Paul Czan. “And coupled with a third consecutive interest rate drop from the Bank of Canada, we are anticipating a heated market in the fall.”
“REALTORS® know firsthand how affordability remains a top concern for most buyers. With a stream of new listings hitting the market and prices holding steady, buyers are not moving with urgency. They are still using caution and taking their time to find the right property for their needs and budget. As such, sellers need to be patient and work with a REALTOR® who can use the latest neighbourhood-level data and insights to properly price their property and build a selling strategy.”
Here are the August 2024 sales numbers:
- Average sale price of homes sold: $666,341 – up 0.3% in August 2023.
- Benchmark single-family homes price: $732,500 – down 0.3% in August 2023
- Benchmark townhouse/row unit price: $502,200 – up 0.3% in August 2023.
- Benchmark apartment price: $416,800 – down 1.2% in August 2023.
