Here are the numbers for the residential market (only condos and single family homes) from January 1 until August 31, 2016.
As I mentioned in my introduction, the market has started to recover and even the condo market has surpassed the 2015 numbers. .
The total numbers of sales for all residential properties in all price ranges are up by a 4% to 253 transactions.
The total sales volume is up by a 50% to $156,345,000 US Dollars.
Total numbers under contract are up by 15% to 290 contracts. The average sales price is up a 44% to $618,000 US Dollars. The medium sales price is down a 3% to $285,000 US Dollars
Now let’s see how the numbers look like for the condo and single family home market:
For the first eight months of 2016 the total number of closed transactions for condos is up by a 13% to 133 units. The total sales volume is up by 41% to $53,331,000 US Dollars. The average sales price is up a 24% to $401,000 US Dollars. Medium sales price stayed flat at $256,000 US Dollars. The list to sales ratio is at 85%.
Closed transactions for single family homes are down by an 4% to 120 units. The total sales volume is up by 54% to $103,015,000 US Dollars. The average sales price is also up by 62% to $858,000 US Dollars. The medium price is down by 3% to $323,000 US Dollars. The list of sale ratio is up three points to 88%.
These numbers reflect a steep increase. Total numbers of closed sales for properties above $1,000,000 US Dollars is up an 85% to 37 closed escrows. The total sales volume is up by 147% to $88,271,000 US Dollars. The average sales price is up by 33% to $2,386,000 US Dollars.
The market for properties below one Million US Dollars looks quite different. The total numbers under contract went up by 7% to 236 accepted offers. Total units sold is down a 3% to 216 units and the total sales volume is down 1% to $68,075,000 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.