Peter Kusch

Detached

Detached home sales eased to 995 units in August, while new listings rose to 1,748 units, keeping the sales-to-new listings ratio below 60 per cent. This prevented any significant shift in inventory, as the 3,051 units were the highest levels reported in August since 2020. The unadjusted benchmark price in August was $755,600, down by nearly one per cent over last month and last year's levels.

Semi-Detached

August sales improved over last year’s levels, but it was not enough to offset earlier pullbacks with year-to-date sales of 1,557—eight per cent lower than last year—but higher than long-term trends. At the same time, new listings slowed compared to sales, pushing the sales-to-new listings ratio up to 67 per cent and preventing any further monthly inventory gains. In August, the unadjusted benchmark price was $687,200, down over last month, but nearly one per cent higher than last year, and nearly four per cent higher on a year-to-date basis.

Row

Sales in August slowed, contributing to the year-to-date decline of nearly 16 per cent. In August, there were 1,103 units in inventory, reaching the second-highest level on record for August, only slightly lower than the record high reported in 2018. Due to the relatively strong sales, the months of supply have only pushed slightly above three months, far more balanced than last year, but not as high as the 6.4 months reported back in 2018. In August, the unadjusted benchmark price in the city was $439,600, reflecting the fourth consecutive monthly decline and nearly five per cent lower than last August.

Apartment