Steady sales activity in September

Housing market continued to be stronger in September as in “normal” yearly activities. This year however because of the covid related pileup in summer, the sales activity gathered more pace than previous years. Year-over-year transactions were up 42.3% mostly in the freehold market. Condo listings surged 215% and lease prices have dropped. This is not mass desertion. It’s a temporary change as employees are asked to work from home and in some cases this work related change is confirmed till summer 2021. Condo demand will rise again in a few years but for now it’s slow. Selling price has gone up 14% and new listings are up 30.8%. Activity will continue in October and slightly expected to slow down during winter months plus the expected second wave hitting.