NOVEMBER 2024 MARKET UPDATE
Posted on Nov 01, 2024 in Market Updates
Sales gains for homes priced above $600,000 offset declines at the lower end of the market, resulting in October sales that were similar to last year. The 2,174 sales in October increased over September and stood 24 percent above long-term trends for the month.
“Housing demand has stayed relatively strong in our market as we move into the fourth qua...
NEW MORTGAGE REFORMS TO HELP CANADIANS
Posted on Oct 02, 2024 in Real Estate News
Many Canadians work hard to achieve the dream of owning a home. Yet, skyrocketing mortgage payments have made homeownership increasingly difficult, especially for Millennials and Gen Z. To address this challenge, the Canadian government has rolled out significant mortgage reforms aimed at making homeownership more accessible, particularly for first...
OCTOBER 2024 MARKET UPDATE
Posted on Oct 01, 2024 in Market Updates
Rising sales in the upper price ranges were not enough to offset the pullback occurring in the lower price ranges, as sales in September were 2,003, 17 percent below last year's record high. Despite the decline, sales this month were still over 16 percent higher than levels traditionally achieved in September.
“We are starting to see a rise in new l...
KEY CHANGES TO THE R-CG ZONING BYLAW
Posted on Sep 05, 2024 in Real Estate News
Blanket rezoning was passed (with amendments) on a 9-6 vote earlier this year, and it is now officially in effect as of August 6th.
WHAT DOES THIS MEAN?
- R-CG is now the citywide base low-density residential zone.
- R-G is now the base low-density residential zone in developing areas.
- H-GO zoning has been implemented in areas identified in approved Local...
SEPTEMBER 2024 MARKET UPDATE
Posted on Sep 03, 2024 in Market Updates
Housing activity continues to move away from the extreme sellers’ market conditions experienced throughout the spring. Easing sales, combined with gains in supply, pushed the months of supply above two months in August, a level not seen since the end of 2022.
“As expected, rising new home construction and gains in new listings are starting to suppor...
SEMI-ANNUAL MARKET REPORT - 2024 Vol 2
Posted on Sep 01, 2024 in Market Reports
If you have been keeping up with our monthly e-newsletter, you already know we experienced an extremely hot real estate market throughout the first 6 months of 2024. Tight market conditions led to plenty of multiple offers and significant price appreciation right through the end of June. Since then, things have cooled off slightly, although the mar...