Prices continue to come down as the market adjusts to a high inventory and lower sales. It now seems that oil prices will stay low for longer than we would all like and the layoffs are continuing.
For single family homes, the average price was down slightly from September, but when compared to October of 2014 they were down significantly by 7.3%. Sales were down by 32% compared to last October, with only 872 houses sold. The average time it took for a single family home to sell was 38 days and there were 2,909 active listings at the end of October. The average price was $518,956
For Condos the prices went up when compared to September, but were still down when compared to October of last year. The average price was $318,210 and there were 1,367 active listings but only 237 condos sold in the month of October. Sales were down by a whopping 38.92% compared to last October.
Have a look at our infographic for more details.
All data is from CREB®
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