Coffee With Andy - July 2, 2024

For the week ending June 30 2024 there were ….
64 residential sales at $1,035,000
31 apartment sales at $450,000
13 townhouse sales at $673,000
All things considered this is pretty good and better than expected. The momentum we’ve been talking about over the past few weeks continues and although we would all like to see these numbers higher, we’re grateful for the consistency. The same week last year produced 60 residential sales so this is the second week in a row where we’ve outperformed the same week from 2023.
If you follow these numbers regularly you will remember that the last six months of 2023 were dismal and people were hunkering down and not participating in the housing market unless absolutely necessary. This year things are somewhat rosier with mortgage rates dropping, albeit slightly, forest fires won’t be as bad as they were last summer (I hope I didn’t jinx things) and sellers are getting somewhat more realistic with their asking prices.
With just over 2,100 residential homes on the market there is a wide selection in all price points. Homes priced under $1,000,000 are selling faster than homes priced over $1,000,000 and especially so for homes that have suites.
Thanks for reading,
Andy and Kierra