One Minute Market Update - August 2023

August 2023 Key Takeaways:
  • As expected, August was a slow month across the board as interest rate uncertainty loomed. 
  • Average sale price is down month over month 6%.
  • New home sales were virtually unchanged both month over month and year over year. 
  • New listings are down month over month 15% showing homeowners are continuing to find ways to hold their homes through tough times.
  • With the recent Bank Of Canada announcement to hold rates, expect the Fall market to have a little more activity than anticipated as this gives some buyers a little more confidence to come off the sidlines.

All data below. What do you think? 

*I keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please feel free to reach out.