Ben Truscott Real Estate Report - May 2024

Sales volume continued to rise, but not quite as fast as the new inventory. In April the active inventory of homes increased by 113 homes, while the amount of monthly sales only increased by 14. Due to having more competition, especially in the townhome and condo market, prices have softened a little bit from where they were earlier in the year.

We're still very much in a changing market, some areas are slow, some are lightning fast.

Detached homes have not risen in price as much as townhomes have over the last year, so it's still my opinion that now is a great time to upsize from a townhome to a detached.

Spring is here, and the market is continuing to gradually increase pace, but there have been, and will likely be no sudden increases in price until the interest rates lower this year.

Sales volume continued to rise, but not quite as fast as the new inventory. In April the active inventory of homes increased by 113 homes, while the amount of monthly sales only increased by 14. Due to having more competition, especially in the townhome and condo market, prices have softened a little bit from where they were earlier in the year.

We're still very much in a changing market, some areas are slow, some are lightning fast.

Detached homes have not risen in price as much as townhomes have over the last year, so it's still my opinion that now is a great time to upsize from a townhome to a detached.