Well as we expected, June was a record breaking month for sales. Over 2400 sales this month, more sales than May (2161 sales). The other big story is how many listings are out there. Our inventory has dropped down to the 6500 range. That is much lower than last June (2008) when we had 10,817 homes for sale. Prices for both condos and single family both went up just under 1% for the month. Not as high of an increase as May (4% increase). This could be something to watch. The high sales volume units wise is not translating into a manic price increase (like 2006). In fact the percentage of the total sales are very similar to January 2009 numbers. We have been hovering around 50% of the market in that $300,000 or less price point. So the market has been very strong, but the prices have not gone crazy. A 5% increase in two months is still very substantial. I've attached some graphs that might be of interest. Happy Canada Day everyone!
