We are still in a Sellers Market
This is all very interesting as we continue to watch the
condo stats each month
195 Transactions (down 10% from last May)
Transactions are up 10% compared to the 5 year average
$618k Average Price (up 36% from last May)
19 Days on the market (down 52% from last May)
243 Condos are currently for sale (up 51% from last May)
That gives us 2.1 months of inventory right now
You can look at all the finer details of the statistics below
But, as I look at these stats, it goes back to what I said last week. Demand is still very high. 5 months of inventory is considered to be a balanced market between buyers and sellers. We have 2 months currently. Now, inventory is on the rise so we will see where we end up. But, for now, we are still in a strong sellers market.
