“Residential houses prices are up seven per cent from last year, which is likely due to lower inventory this year,” said RAHB President Cameron Nolan. “In the residential freehold market, we are seeing about 21 percent fewer listings than last year at this time and in the condo market, 33 per cent fewer.”
Year to date, numbers of sales of residential properties are down 2.2 per cent compared to the same six-month period last year and new listings are down almost 16 per cent. The average sale price for residential units is 7.6 per cent higher for the first half of this year compared to the same period last year.
Every community in RAHB’s marketing area has their own localized residential market. Please refer to the accompanying chart for residential market activities in select areas of RAHB’s jurisdiction.
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