Springing into June, we welcome a surge of the real estate market as we experience a continuation of the listing heavy environment. On average, we are seeing a 50.3% increase in inventory of listings in May of 2024 compared to May of 2023 and buyers will benefit in this climate. The days to sell is ranging from 40 - 65 days however condo style properties can take up to 120 days to reach the firm sale status. Another strong influence in the market and push of buyer confidence will result from the 0.25% reduction that came with the Bank of Canada rate announcement today. Sitting at 4.75% as opposed to
5.0%, we expect sales to be on the rise during this month.
