So the Bank of Canada held interest rates yesterday, which is good news. But is it? we don’t really know.
What we do know is that we’ve got a bit of a reprieve that there’s not going to be another announcement until October 25th, so it’s a wait and see. But right now, it’s good news.
If you’re looking to get into a home in the fall market, August numbers are in the average price of a home stayed pretty stable at $615,000. The number of homes that sold, again down a bit over last year, but not hugely.
What’s really different is the days on the market. It’s up 23.5% over last year, which we’ve talked about.
It means that it’s taking longer to sell a home.
If you have any questions about the market, contact us. We’re happy to discuss it. Take care.
Watch the market update here