Jul 3, 2020 by Press Releases, Uncategorized
As RAHB market area moves into stage 2 of reopening, the average sale price for single family properties within the entire RAHB market increased by 13.7 percent and its number of sales decreased by 0.2 percent compared to June 2019. RAHB market area also recorded an increase of towhouse sales activities by 10 percent from June 2019, and the average townhouse sale price increased by 13.5 percent to $563,849. Apartment-style property sales decreased by 13.5 per cent from June 2019, and the average price increased by 6.8 per cent.
“With the reopening of the province, and the increased confidence in both the economy and the health of our communities, we are seeing higher activity in both sales and new listings throughout the RAHB market area. Typically, spring is busier than summer; however, COVID-19 seems to have pushed the market back by a few months,” says RAHB President Kathy Della-Nebbia. “Throughout the pandemic, the average price of residential properties in our market has held steady. If Ontario’s recovery from COVID-19 continues, we shouldn’t see a decrease; however, we are cautious that any relapse or a second wave could slow activity and affect average price.”
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