Do You Feel A Shift In The Market?

We saw a bump in new listings this April, which brought total inventory up to 5,876 units. That’s more than double what we had this time last year—though remember, last spring was extremely tight for supply. This year's numbers are much more in line with what we typically see in April.

Sales hit 2,236 units, down 22% from last year, but still tracking closely with long-term averages. The market is feeling the effects of ongoing economic uncertainty, but activity is still stronger than during the pre-pandemic slowdown.

Why? Migration gains, stable employment, and better supply levels (compared to last year’s ultra-low inventory) have helped keep the market moving and prices steady.

With more options on the market, we're seeing a shift toward more balanced conditions—about three months of supply overall. That said, it really depends on the price point and property type. Lower-priced detached and semi-detached homes are still facing tight supply, while apartments and row houses are seeing a healthier balance between buyers and sellers.

Prices? They've mostly held steady month-over-month. Compared to last year, detached and semi-detached home prices are up over 2%, while apartments and row houses have stayed flat.

Thinking about buying or selling? Now’s a great time to explore your options while the market is shifting. Whether you're looking to move up, downsize, or invest, let’s chat about how today’s conditions can work in your favour. DM me or book a consult—I'm here to guide you every step of the way.