Here are the numbers for the residential market (Only condos and single family homes) from January 1 to September 30.
The good news is that the numbers of sales (closed transactions) for the first nine months has gone down by a 9%. The bad news is that these numbers are only for properties under $1,000,000 US Dollars.
The total numbers of sales for all residential properties in all price ranges are down by a 6% to 289 transactions.
The total sales volume is down by 45% to $131,201,000 US Dollars.
Total numbers under contract are down a 7% to 311 transactions. The average sales price is down a 42% to $454,000 US Dollars.
Now let's see how the numbers look like for the condo and single family home market:
The first nine months of 2015 the total number of closed transactions for condos is down by a 16% to 121 units. The total sales volume is down by 34% to $38,550,000 US Dollars. The average sales price is down a 21% to $319,000 US Dollars. The list to sales ratio is down by three points to 88%.
Closed transactions for single family homes are up by three percent to 168 units. The total sales volume is down by 48% to $92,651,000 US Dollars. The average sales price is also down by 50% to $551,000 US Dollars. The list of sale ratio is down three points to 87%.
These numbers reflect a lack of sales for properties above one Million US Dollars. Total numbers of closed sales for properties above $1,000,000 US Dollars is down a 61% to only 26 closed escrows. The total sales volume is down by 69% to 50,394,000 US Dollars. The average sales price is down by 20% to $1,938,000 US Dollars.
The market for properties below one Million US Dollars looks much better. The total numbers under contract went up by 5% to 271 accepted offers. Total units sold is up a 9% to 263 units and the total sales volume is up by 4% to $80,806,000 US Dollars.
If you would like to receive an update on a specific neighbourhood please let me know and I'm more then glad to provide you with the numbers.