Median sold price for Condo & Coop properties for November was $480,000, representing an increase of 3.2% compared to last month and an increase of 2.8% from Nov 2017. The average days on market for units sold in November was 52 days, 16% below the 5-year November average of 62 days. There was a 1.9% month over month increase in new contract activity with 326 New Pendings; an 8.6% MoM increase in All Pendings (new contracts + contracts carried over from October) to 443; and a 12.4% decrease in supply to 826 active units.

This activity resulted in a Contract Ratio of 0.54 pendings per active listing, up from 0.43 in October and a decrease from 0.60 in November 2017. The Contract Ratio is 19% lower than the 5-year November average of 0.67. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Median sold price for Attached/Townhouse properties for November was $703,750, representing a decrease of 4.3% compared to last month and an increase of 8.4% from Nov 2017. The average days on market for units sold in November was 52 days, 14% below the 5-year November average of 61 days. There was a 19.1% month over month decrease in new contract activity with 258 New Pendings; a 3.1% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 437; and a 10.4% decrease in supply to 481 active units.

This activity resulted in a Contract Ratio of 0.91 pendings per active listing, up from 0.84 in October and a decrease from 1.10 in November 2017. The Contract Ratio is 23% lower than the 5-year November average of 1.19. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.

Median sold price for Detached properties for November was $891,450, representing an increase of 7.9% compared to last month and an increase of 18.7% from Nov 2017. The average days on market for units sold in November was 39 days, 42% below the 5-year November average of 67 days. There was an 11.9% month over month decrease in new contract activity with 119 New Pendings; a 0.5% MoM decrease in All Pendings (new contracts + contracts carried over from October) to 203; and a 0.9% decrease in supply to 319 active units.

This activity resulted in a Contract Ratio of 0.64 pendings per active listing, up from 0.63 in October and a decrease from 0.88 in November 2017. The Contract Ratio is 24% lower than the 5-year November average of 0.85. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.