Aug 5, 2020 by Press Releases
Compared to July last year, the sales for this year went up to 27.8 percent and 23.7 percent over last month. New listings are up 15.5 per cent over June 2020 and up 8.8 per cent over last July. The number of active listings for the month was down 21.4 per cent over last year.
“As we can see from the data, activity has resumed to pre-COVID-19 levels, and is actually surpassing the levels we would typically see in the summer due to pent-up demand over the last several months,” says RAHB President Kathy Della-Nebbia. “What is also affecting the market – and more specifically the increase in average price – is the low number of active listings. With less available, buyers have limited choice and the market favours sellers.”
“The RAHB market area moved into stage three in July, and open houses were permitted to continue. Although this improves consumer confidence, it doesn’t mean it’s business as usual,” says Della-Nebbia. “If you are entering the market as either a buyer or seller, COVID-19 has changed real estate and many other businesses, and we are operating within a new norm. Working with a local RAHB REALTOR® will help ensure your real estate transaction is both successful and safe.”
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