October 2021 surprised me a bit with a total of 1866 unit sales, an increase of 11.7% compared to 2020 and only 0.5% below what we saw in September. Typically, as we move into the fall season sales cool but not this year.

While the Single-Family category was strong, the sales of Condominiums were 26% higher year-over-year and Duplex/Rowhouses up an amazing 31.3%. It’s nice to see the market gaining strength in this more moderately priced category.

Speaking of prices, the average sales price for Single Family and Condominiums held steady month-over-month while the Duplex/Rowhouses increased 7.4% to $362,000.

Looking forward to November, I note that the number of new listings declined -11.7% from September reducing our inventory by-10.4%. If you’re considering selling, give us a call. If you are in a neighbourhood and market with strong demand, it might be your time to stand out in a smaller crowd.

Until next time, how about them OILERS!