September 2022 Real Estate Market Statistics
Home and condo prices continue to fall month over month albeit much less precipitously as the summer months. Duplexes surprisingly gained footing which is interesting to see. Reading tea-leaves a bit but as interest levels climb out of necessity consumers will shift to more affordable options as in from single family detached to the more accessible attached housing alternatives. We are still calling for pricing to continue to fall for at least another month.
Days on Market
Days on market shot up for all 3 market sectors this past month. Patience will be the actionable word for sellers as we ride the tide of seasonal shifting. Expect these numbers to level out a bit going forward.
A fully loaded Windsor Park dream home took the honors of highest sale last month while a fourplex condominium unit in Idylwylde set the benchmark for condominiums.
The gap between available product and demand continues to expand this month with increased listings and decreased sales. It would be reasonable for these numbers to flip for September as consumers buy up current inventory.
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