The total number of active MLS listings in September was 4,199 which is up 8% over last year and up 1% over the 5-year average

The total number of sales in September was 1,173 which is down 2% over last year and down 14% over the 5-year average.

Detached home sales in September were 813 which is down 4% over last year and down 15% over the 5-year average. The average price of homes this month was $397,275 which is down 2% from last month when the average price was $405,477.

Condominium sales in September were 169 which is the same as last year and down 5% over the 5-year average. The average sales price of condos this month was $272,513 which is down 2.4% from last month when the average price was $279,055.

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 September was 3.58, indicating a balanced market.

--Provided Nigel Nolin & Chaymaine Roberts

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