October 2016 Market Watch

October was a big month as the new mortgage rules were introduced on October 17th. The rules did not seem to dampen the market with sales up 11.5% compared to October 2015. Detached home sale prices remained very strong with the average price reaching $1,303,339, up 21.7% over last year. We saw a surge of Condominium Apartments sales and the average sale price reach $459,199 up 12.9% over 2015.