New listings rose 5.7% over last year at this time (1,186 compared to 1,122) but dropped 10.4% from last month (1,324), while inventory increased 5.8% over last June (to 5,793 from 5,475) and 4.1% since May (from 5,561).
Overall sales this month dropped 21.7% compared to June 2009 (to 346 from 442) and were down 8.2% compared to May (378). Total residential units sold decreased 23.8% over last June (to 319 from 419) and dropped 9.6% over last month (353). Sales of single family units decreased 20.8% from June 2009 (to 175 from 221) and were down 6.4% from May (187).
However, sales activity year-to-date (YTD) has improved 30.6% compared to the first six months of 2009 (to 2,177 units from 1,666) and sales volumes YTD are up 38.9% (to $881,180,864 from $634,381,184).
Ratio of Sales vs. Total Inventory = 5.97%
Condo -- Sales = 50
Condo -- New Listings = 184
Condo -- Current Inventory = 1196
Condo -- Sell/Inv. Ratio = 4.18%
Condo -- Days to Sell = 88
Townhouse -- Sales = 45
Townhouse -- New Listings = 154
Townhouse -- Current Inventory = 568
Townhouse -- Sell/Inv. Ratio = 7.92%
Townhouse -- Days to Sell = 79
Lots -- Sales = 17
Lots -- New Listings = 140
Lots -- Current Inventory = 864
Lots -- Sell/Inv. Ratio = 1.97%
Lots -- Days to Sell = 325
Residential -- Sales = 175
Residential -- New Listings = 507
Residential -- Current Inventory = 1925
Residential -- Sell/Inv. Ratio = 9.09%
Residential -- Days to Sell = 65
Average House Price = $480,216.68
Median House Price = $455,000
Disclaimer: Monthly sales statistics are based on the sales reported by real estate offices as of the last day of the month. As a result, there may be some lag time in reporting sales and other minor adjustments in the total results are made accordingly.
If you would like more in depth statistics or have any general questions please contact me at (250) 808-7700 or at jason.neumann@century21.ca
Complete OMREB Statistics for May 2010
Sincerely,
Jason Neumann