RTB Market Update:

Claims: 26 business days, down from last month - 37 days

Order Of Possession For Non-Payment Of Rent: 17 business days - up from last month at 10 days

Order Of Possession other: 20 business days - Down from last month at 22 days

Provided by Garret Wong, Upper Edge Property Management.

The total number of active listings in January was 3,012. Which is up 7% over last year and up 8% over the 5-year average.

The total number of sales in January was 657 which is up 14% over last year and down 8% over the 5-year average.

Detached home sales in January were 443 which is up 13% over last year and down 6% over the 5-year average. The average home price this month was $396,833 which is down 2.2% from last month when the average price was $405,702.

Condominium sales in January were 99 which is up 10% from last year and down 2% over the 5-year average. The average price this month was $278,888 which is up 3.6% from last month when the average price was $269,141.

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 January was 4.58 placing us very close to a balanced market. As talked about before, we are up 14% in sales from last year around this time. This January has been very active. This is partly due to the nice weather we have been getting, making it more attractive for people to move and shop for homes.

--Provided Nigel Nolin & Chaymaine Roberts

Nolin Group | Real Broker