A hot market: average sale price up 20.8% year over year - inventory close to record low levels

By Staff

October 19th, 2021



Despite Covid19, or perhaps because of it, the real estate markets have been busy.

A Real Estate Market Insight of residential properties sold during September and provided by the Rocca Sisters, an established real estate firm, is set out below.

With another record breaking average sale price of $1,310,309, up 20.8% year over year, sales were down by 39.4% when compared to September 2020.

Inventory continues to be historically low. On average, for the past 5 years, there were 338 active freehold listings between $500,000 and $4,000,000 at the end of September.

At the end of September 2021, there were 72.

During the month of September properties sold for 107.99% of the listed price and in an average of 9 days (compared to 13 days in August) and a slightly higher list/sale price ratio in June when it was 105.19%.

The remarkable sales always referred to in months gone by are becoming less and less remarkable and more and more predictable. The lack of inventory and large pool of buyers is continuing to push quick sales for more than top dollar.

Sales by market sector are set out below.

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