In September, the number of condos available for sale in the C01 district was up to 1004 from 987 in August. The number of condos sold was down from the previous month to 356 from 371 for a ratio of 0.35. More available, fewer sold… market pushed down into balance market.

The only month where we saw lower prices in 2011 was in January, it’s the best time to buy in the last 10 months. The level of supply is quite close to typical but it seems the buyers are slowing down a bit. Since there have been no changes in lending practices, it’s very likely that buyer’s are being affected by the economic concerns of a second recession. Although buyers may be a little less confident, employment rates and interest rates all indicate a sustainable market.

The median price for August was slightly down to $361,900 from the previous month’s $365,000. The average number of days on market for the month was the same at 30 days.

The median price has come down about $13,000 from it’s peak this past June. It’s rare to see the average days on market push past 30 and that’s exactly where it’s been hovering for the past 3 months. Usually prices are very flat for the last 3 months of the year but the number of transactions in December is half of what it usually is.


*Graphs apply to most recent C01 district data.