December 2019 Market Update

Sales improved this past month and the strong second half of 2019 was enough to push annual sales up by 1%.⁠ Detached // Improving sales in the second-half of the year helped offset earlier declines. This resulted in detached sales that are relatively unchanged from 2018 levels. Sales in product over $500,000 declined by 11% while sales under $500k increased by 9%.⁠ Apartments // ⁠⁠Stronger apartment style sales in December were enough to push annual levels to 2,672 units. This is just above last year’s levels. Reductions in oversupply helped ease the rate of decline in resale apartment condominium prices. However, prices in December⁠ remained 1% below last years levels⁠ Attached // The attached segment of the market has seen the largest improvements in sales when compared to the other product types. Annual sales improved by nearly 7% for a total of 3,780 sales. ⁠

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© 2020 by Samantha Mollerson

Charles Real Estate Inc.

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