The total number of active listings in November was 3,766 which is up 9% over last year and up 7% over the 5-year average.

The total number of sales in November was 843 which is down 2% over last year and down 16% over the 5-year average.

Detached home sales in November were 566 which is down 6% over last year and down 17% over the 5-year average. The average home price was $374,394 which is down 6.8% from last month when the average price was $399,017.

Condominium sales in November were 120 which is down 13% over last year and 17% over the 5-year average. The average condominium price was $245,946 which is down 10.5% since last month when the average price was $272,513.

Absorption Rate:

Sellers Market = 0 - 3.5 months of inventory

Balanced Market = 3.5 - 4.5 months of inventory

Buyers Market = 4.5+ months of inventory

The absorption rate in November was 4.47 which indicates we are almost in a buyers market. This is normal for this time of the year as fewer people are looking to buy so there is less demand.

--Provided Nigel Nolin & Chaymaine Roberts

Nolin Group | Real Broker