- During the month of May Townhome sales fell 30% and Condo sales fell 8% compared to May 2011. Year to date Townhome sales are down 32% and Condo sales are down 19%.
-The average selling price of both Townhomes and Condos was unchanged in May this year versus May 2011. Year to date the average sale prices are 1% higher for Townhomes and 1% lower for condos.
- There were 31% more Townhomes and 28% more Condos listed for sale at May 31st this year versus last year.
- At May 31st this year there were 7.3 month`s supply of Townhomes versus 3.9 months a year ago. For Condos there were 5.6 month`s supply this year versus 4 months a year ago.
While all segments of the market appear cooler, the Single Family market looks to be feeling the slow down the most. This all being said,`` it`s not all doom and gloom out there``. Keep in mind we are comparing 2012 figures with a very busy record year last year. The market now looks to be acting like a normal market with supply & demand fairly balanced in the Attached market and the Single Family market in a `Buyers`market with some price softening. This adjustment is healthy as prices come more into line with the fundamentals. Buyers are also able to take their time house hunting with no immediate pressure to make an offer like in past years.