month as the average home price in the area ticked above the average list price for the first time since May 2022.
The board took last month's numbers to mean the market is tightening after several months spent in a sluggish state, where sales paled in comparison to typical years and prices started to drop as interest and mortgage rates soared. Detached homes had an average price of $1,468,651, down 13.5 per cent from a year ago, while semi-detached properties dropped more than 17 per cent to $1,087,924. Townhouses cost an average of $935,626, a 14 per cent decrease, while condos and apartments fell 13 per cent to $703,566.
Sales were partially impacted by new listings, which have waned because would-be sellers have held off on purchases because they want to fetch the lower prices their neighbours did at the peak last year. Sondhi is now forecasting quarterly sales gains with stronger growth headed into the year's second half.
ProLuxRE I will provide active cash buyer leads for the real estate industry SalesLead MotivatedSellers RealEstateInvestor CashBuyerLeads ActiveCashBuyer Investor CashBuyer SalesLeads RealEstateLeads MotivatedSellers SellerLeads Fiverr link-
People have too much $$$ these days and are bidding up the price of homes. We need higher income taxes to control inflation.