The November condo market continued to be very active, and sales volume is high. However, an abundance of supply is holding prices down.
In November 2022, average sales prices were around $215,000 compared to over $216,000 in November 2021 and sales price for the entire year is tracking neutral.
In November 2022, around 289 sales were registered compared to around 325 sold units in 2021. We expect to see sales volume for 2022 track about 600 units above last year or an increase of around 13% for the year.
Days on Market
Average days on market for November 2022 was 58 days compared to 61 days in November 2022. In my opinion this is a strong sign that buyers feel confident about opportunities in…
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