Market Update: August 2021
Across the board we saw an increase in the benchmark price in all categories with homes up 33% year over year, condos up 27% year over year, and townhomes up 31% year over year.
Inventory was down 50% and sales were down 18% compared to the same time last year. Sales would no doubt be much higher if there was adequate inventory.
We expect prices to continue their upward trend unless demand drops or the number of listings increase.