Peter Kusch

Detached

For the first time since 2020, the months of supply for detached homes rose to three months. Sales activity slowed to 1,031 units in July, while the number of new listings, despite being slower than last month, was still nearly 10 per cent higher than last year’s levels and above long-term trends. A shift to balanced conditions has taken much of the pressure off home prices. As of July, the detached benchmark price was $761,800, down less than 1 per cent over last year.

Semi-Detached

Sales activity in July continued to slow, contributing to the year-to-date decline of 11 per cent. With 549 units in inventory and 187 sales, the months of supply in July rose to three months, something that has not happened since 2021.  Although supply is improving for sales, prices have remained relatively stable. As of July, the benchmark price in the city was $697,500, 1 per cent higher than last July.

Row

The months of supply in July were similar to last month, at over three months with a range of under three months of supply in the City Centre, North West, South and South East, to nearly five months of supply in the North East district. In July, the benchmark price was $446,200, which is down 1 per cent compared to last month and nearly 4 per cent lower than levels reported last year.

Apartment