Market Updates

Easing sales helping shift market towards more balanced conditions. 

Posted on Aug 11, 2022

July sales eased to 1,439 units reflecting a year-over-year decline of nine per cent contributing to the year-to-date decline of nearly 10 per cent. While sales have eased, last year was a record year, and with year-to-date sales just shy of 10,000 units, levels are still well above long term averages for the province.New listings trended down from...

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Home prices continue to rise despite slower sales.

Posted on Jul 07, 2022

June sales eased over last year’s record levels. However, with 1,808 sales this month, activity is still over 20 percent stronger than long term trends for the province.“While sales have been trending down in the province this year, we cannot lose sight of the fact that sales levels are still amongst the highest levels ever recorded in our market a...

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Supply challenges persist into the Spring  Market.

Posted on Jun 06, 2022

Unlike some areas of the country, sales activity in May trended up relative to levels seen earlier in the year. With 1,814 sales this month, levels are still slightly lower than last year’s record, but remain well above typical activity in May. Year-to-date sales have totaled 6,682 units, down 11 per cent from last year’s record high, but over 27 p...

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April Sales low but prices reach record highs due to low supply.

Posted on May 05, 2022

With 1,547 sales this month, activity slowed compared to the record high set last April. Despite the slower sales seen in the first four months of this year, it is noteworthy that those 4,873 sales are 30 per cent higher than longer term trends.“While rising lending rates are likely contributing to some of the pullback in sales, another challenge l...

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Supply levels remain low causing continued price increases.

Posted on Apr 06, 2022

Both sales and new listings trended up this month compared to levels seen over the past few months. However, the level of new listings coming onto the market was far lower than levels seen last year and for the 10-year average. This caused the sales to new listings ratio to rise and prevented any notable change to the supply situation. With 5,648 u...

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February sales ease over record levels

Posted on Mar 03, 2022

February sales in the province reached 1,059, an eight per cent decline relative to last year. While the year is starting out with sales that have slowed compared to last year, it is important to note that housing demand continues to remain strong as levels are over 22 per cent higher than what we typically see at the start of the year and nearly 4...

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