| Residential Activity | Print Data |
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Residential sales activity was up 61 per cent from year-ago levels in the fourth quarter, numbering 925 units. This is the largest increase in nearly two decades. The gain was a result of strong sales activity in all three months of the quarter. Seasonally adjusted activity increased by 10 per cent on a quarterly basis in the fourth quarter of 2009. Building on three consecutive increases, seasonally adjusted activity now stands 59 per cent above the low from the end of 2008. Annual home sales activity rose seven per cent to 4,326 units in 2009. Active
listings for detached homes continued to fall from year-ago levels,
posting a third consecutive year-over-year decrease in the fourth
quarter of 2009. Combined
with a strong rebound in sales activity, the market for detached
homes was the tightest of any quarter in five years. Faced with a
tighter market, homebuyers took less time to shop in the fourth
quarter than they had a year earlier. The
median price for detached homes was up three per cent on a
year-over-year basis to $263,500 in the fourth quarter of 2009. This
is the highest quarterly median price on
record.
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