Once again, the monthly numbers are up compared to last year. August saw 217 sales compared to 167 for the same period last year. In addition, the monthly list to sell ratio edged up to 45.88% compared to 33.40%. Year to date figures are still lower than last year at 1205 units compared to 1287 units and a list to sell ratio of 29.47% compared to 30.31% from last year. We are moving towards a Sellers market but we are not there yet.
It is encouraging to see the numbers trending upwards. The question os at the back of everyone's mind though, "have we seen the end?" Confidence is returning to the market place but there is still the lingering uncertainty. It will take another couple of months of improvement to see if this trend id here to stay.
The performance to date is a good indication that Canada will not go through the same declining in property values that were seen in the US. There may be some more fall out but we can be thankful that our Banking system would not permit the same sub-prime scenario to happen here.
We are now at the start of the fall market and it will be interesting to see the numbers. All indications are that we are in for a good market.