There are a some interesting items from this weeks' gleaning of the listings on MLS. First, the number of three bedroom townhomes that are listed is at the highest number (124) since I started recording last July 8. Second, listings of two bedroom condos took a dive this past week. Condo listings appear to be nearly flat so far this year, which surprises me. However, listings of two bedroom condos with an asking price of less than $200000 is at the highest number (39) since I started recording. Admittedly, a lot of those condos are fractional ownership.
Thirdly, availability of SFH with an asking price of less than $300000 is at the lowest level since probably forever. There are only 13 homes listed for less than $300000. As a percentage, this is 1.28% of all SFH MLS listings. Flip side, the number of homes listed with an asking price of higher than $700000 continues to grow. There are currently 367 homes listed in that price range. There are 149 SFH with an asking price of $1 million or higher!
All SFH price ranges saw a decrease in listings this past week, except for the SFH with an asking price higher than $700000. Unfortunately, I can't say whether that is due to expiries, sales, or removal of listings. Is the market at a standoff between sellers and buyers? Or do the number of sales closely match the number of new listings? It would certainly be nice to have the inside scoop on what is happening. My apologies that I cannot provide such information.
62.6% of SFH listings have an asking price of $500000 or higher. Ouch.