Q3 2018 Market Update

We have definitely felt a push in home ownership this summer. Particularly with ‘downsizers’ selling to young families who want in the market, and then on the hunt for large condos in the neighbourhood. With demand continuing to pick up for the fall, fence sitters that were cautious of the changes from the Fair Housing Plan and mortgage lending guidelines are now re-entering the market. Therefore, with this increased demand and still a limited supply of inventory, both the average selling price and number of sales have increased year-over-year as per TREB.

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