Apartment
- Despite the relative affordability of apartment product, sales activity remained slow with 149 sales.
- Unlike the detached sector, the seventh consecutive year-over-year decline in new listings is starting to have an impact on inventory levels.
- In February, inventory levels totalled 1,301 units. This is nine per cent below levels recorded last year. Inventories did ease, but slow sales in February kept the months of supply near nine months.
- Apartment condominium prices were $252,300 in February, a 1.7 per cent decline compared to last year, but similar to levels recorded last month. Apartment condo prices have fallen by 16 per cent over the previous monthly highs.
- Citywide benchmark prices have eased, but some districts of the city have recorded modest gains. This is not enough to erase previous declines, but points toward price stability in parts of the market.
