Sales Rise Again in October
Metropolitan Monthly Monitors: Metro Resale Index November 2011
Metropolitan Monthly Monitors: Metro Resale Index November 2011
Urban City Economic Analysis
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- Resale volumes continued to rise in October. Sales were up in 17 of our 28 markets, and 6 of those markets were up 5 per cent or more from September. October transactions were above their year-earlier level in 23 areas.
- New listings are picking up. They rose in 16 of 28 markets between September and October and were higher than a year earlier in 21 jurisdictions.
- An increase in the sales-to-listings ratio between September and October indicates tighter markets in 16 jurisdictions. Still, 23 of our markets remain in a “balanced” stance. Listing shortages make Thunder Bay our only “sellers” market.
- Price growth continues. Average values rose between September and October in 16 areas and were up at least 4 per cent from their year-earlier level in 17 markets. Thunder Bay’s 21 per cent year-over-year price rise was outsized and will prove unsustainable.
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