You’d never know it from stepping outside, but the weather is improving and while we are still waiting for that one last snow fall (yes, you know it’s coming), we know the general trend points to warmer temperatures ahead and that can only mean one thing....more listings. Hallelujah!

Buyers were relieved last week as listings of freehold homes in the core improved by slightly over 11%. The number of sales remained unchanged but with more homes on the market, the number of multiple offers retreated 4% off the historic high of the week before (70%). The west core was the only area where available listings dropped yet sales increased signifying a tightening in that market. In the east core, the opposite held true. There we saw a significant increase in available listings (up 34%) and a 20% decrease in sold properties. It is often interesting to see how the tide in buyer habits shifts east to west and then back again, while the central core remains relatively constant.

The condominium market saw a significant increase in the number of new listings coming to market last week. This was most notable in the entry level and move up markets ($200k-$400k and $400k-$700k) in the central core where 148 suites where added to those categories. Both the east and west core saw little change to their availability levels. The good news is that, across the core, the number of suites selling at or over the list price has remained consistent over the last three weeks at 25%.