• Detached sales declined across all districts in November. With citywide sales of 679 units, activity remains 21 per cent below Housing Market Facts for November 2018 with typical levels for the month.
• New listings eased by three per cent compared to last year, due to declines mostly in the North East, North and South East districts. Year-to-date new listings this year have increased in all areas except the North East and East districts.
• Inventories in the detached sector totalled 3,491 units, 26 per cent higher than last year’s levels. Months of supply sits at five months, well above the three-month typical for November.
• Detached benchmark prices totalled $486,000 in November, a one per cent decline over last month and a three per cent decline over last year. This is nearly seven per cent below monthly highs recorded in October 2014.
• Prices have eased across all districts in November. On a year-to-date basis, the largest declines this year have occurred in the North East and North districts. This is likely due to the increased competition from the new-home sector. The districts that remain furthest from price recovery are the North West and South districts.