October:

Claims: 46 days

Order of Possession for Non-Payment of Rent: 14 days

Order of Possession for Other: 25 days

September:

Claims: 49 days

Order of Possession for Non Payment of Rent: 14 days

Order of Possession for Other: 20 days

August:

Claims: 46 days

Order of Possession for Non Payment of Rent: 11 days

Order of Possession for Other: 23 days

Sept:

Claims: 49 days

Order of Possession for Non Payment of Rent: 14 days

Order of Possession for Other: 20 days

We also have a new Minister, now that the government has changed: Lisa Naylor, who will be performing double duty as the current Minister of Transportation and Instrastructrure as well as Consumer Protection and Government Services.

- Provided by Garret Wong, Upper Edge Property Management

The total number of active listings in October was 4,047 which is up 10% over last year and up 5% over the 5-year average.

The total number of sales in October was 1,131 which is 7% over last year and down 12% over the 5-year average.

Detached home sales in October were 776 which is up 5% over last year and down 15% over the 5-year average. The average home price was $399,017 which is down about half a percent from last month when the average price was $397,275.

Condominium sales in October were 173 which is up 19% over last year and down 3% over the 5-year average. The average price was $259,127 which is down 5% from 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 October was 3.58 placing us in a very balanced market. Listings are up but sales are down across the board when looking at the 5-year average. Interest rates have definitely had a role to play in affecting these numbers

--Provided Nigel Nolin & Chaymaine Roberts

Nolin Group | Real Broker