There were 2,587 properties listed in May, an increase of 4.5 per cent compared to the same month the year prior. End-of-month listing inventory was 8.9 per cent lower than last May.
Seasonally adjusted* sales of residential properties were 11.1 per cent higher than the same month of the previous year, with the average sale price up 10 per cent for the month. Seasonally adjusted numbers of new listings were 5.7 per cent higher than the same month the year prior.
Seasonally adjusted data for residential properties for the month of May, 2015:
Actual overall residential sales of 1,752 units were 9.5 per cent higher than the previous year at the same time and also a new record for residential sales. Residential freehold sales were 11.6 per cent higher than last May while sales in the condominium market saw an increase of just 1.2 per cent.
Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart for residential market activity in select areas in RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.