Cochrane
Sales improved in August, contributing to the year-to-date gain of over five per cent. Much of the gain in sales has been driven by semi-detached activity. New listings also improved in August compared with last year. The 148 new listings and 94 sales caused the sales-to-new-listings ratio to push above 60 per cent, and inventories edged down compared with the previous month. The boost in sales in August compared with inventory levels caused the months of supply to drop back down to just over three months. Nonetheless, prices still trended down in August. The unadjusted total residential benchmark price eased by nearly one per cent compared with July and is two per cent lower than levels reported last year.
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