Posted on November 19, 2018
Net unconditional sales are slightly below last year’s levels, while listings are continuing to outpace November 2018 in month to date numbers. Overall active listings is at 2370 which is less than previous months and more of a normal number compared to November 2017. An increased inventory means more choice for buyers; and the number of price changes in the past week of 120 illustrates a market correction is happening as we continue in our buyers’ market.
Sellers will need to reassess their listing prices to bring them in alignment with the direction the market is heading, especially with interest rates expected to increase in the new year.