November recorded 1,553 home sales and 2,251 new listings, resulting in a sales-to-new-listings ratio of 69%.
Total inventory sits at 5,581 units, which is 28% higher than the same time last year.
The overall benchmark price is $559,000, down approximately 5% year-over-year.
By property type:
- Detached: Benchmark around $733,000, down about 2% year-over-year.
- Semi-Detached: Benchmark around $671,700, holding stable compared to last year.
- Row/Townhomes: Benchmark around $424,400, down roughly 6% year-over-year.
- Apartment Condos: Benchmark around $309,300, down about 7% year-over-year with elevated supply.
What this means: Buyers have more choice, especially in condos and townhomes, while sellers can still see strong results with strategic pricing and great presentation.