Posted on January 7, 2020
2019 Stats are in and what a year it was!!
The average sale price of all residential properties sold in 2019 increased 9.3% to $527,718 compared to 2018. Detached homes sold for an average price of $614,743 an increase of 7.1% compared to 2018. During this same period, the average sale price for an apartment style condominium was 332,409 for an increase of 9.6%. Townhomes and semis sold for an average of $409,979 (up 10%) and $439,844 (up 11%) respectively. Again, the lack of inventory continues to be an obstacle for Buyers which has in turn inflated sale prices. With the ongoing growth in our Region and interest rates expected to remain low over the next year, I expect the market will remain strong in 2020.