Although the COVID-19 health crisis will undoubtedly dampen the housing market, the virus had little impact on March sales.
Last month, 333 single-family homes sold on the MLS® System compared to 259 in February 2020 and 308 in March 2019. Apartment sales in March did drop by 44 per cent year over year, but there was a 40 per cent increase in townhouse sales from one year ago.
The benchmark price of a single-family board-wide last month was $521,400, a four per cent increase from one year ago and marginally higher than in February. In the apartment category, the year-over-year benchmark price rose by seven per cent, hitting $314,700, which is around one per cent higher than the previous month. The benchmark price of a townhouse in March rose by four per cent year over year and was two per cent higher than in February, climbing to $417,900.
See the PDF chart below for area sales and price range for Jan-March/2020
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