Posted in: Market Trends
The regular market update is usually posted the first week of the month, but I let things play out a few days longer this time. I was noticing a bit of a surge in new listings at the end of May and wanted to see if it was a blip or still continuing.
So far this last week there has been a noticeable surge in listings. This is coupled with trying to show property and being told many are already under contract. This results in things being quite interesting and folks pull out their crystal balls and try and play the market.
With school winding down this is the optimal time to list for folks that want to move after school ends but before the new school year. It is also easier for busy sports families as many events are winding down. Maybe folks were waiting for positive market news which is now more consistent or maybe then wanted to show off their landscaping. With the flowers starting to bloom many homes have beautiful curb appeal.
We are in a climate of slow but consistent stabilization and slow pricing growth in our market for detached homes. Benchmark pricing is up from last year in all areas of the city except the northeast. Semi attched homes are catching up. Townhouses and apartments are a bit further behind and pricing is down compared to benchmark pricing last year most everywhere (except townhouses in the inner city). it is all logical really. Month over month pricing is in the positive though so that's a good sign meaning things are slowly moving forward even though they have a bit of ways to catch up from previous sales periods.
If you are considering the sale or purchase of a new home I would be very happy to assist you. Let us find you a great home at a great price. Give me a call direct at 403 850 2446.