July slowed down. Freehold carried the month with 8 sales. Condos managed 5. And homes are taking a lot longer to sell than last year.
The numbers
| Home type | New listings | Sold | Avg. days | Avg. price |
| The Preserve | 44 | 13 | 41 | $1,001,692 |
| Condo | 15 | 5 | 61 | $464,500 |
| Condo Apartment | 13 | 5 | 61 | $464,500 |
| Condo Townhouse | 2 | 0 | n/a | n/a |
| Freehold | 29 | 8 | 28 | $1,337,438 |
| Freehold Townhouse | 12 | 5 | 33 | $956,300 |
| Freehold Detached | 15 | 3 | 19 | $1,972,667 |
New listings means homes newly listed in July, not the total number of homes for sale. Days and price are averages.
Versus last July: average price down from $1,303,988, new listings down from 61, sales down from 17, and average days on market up to 41 from 25.
What does this mean for you?
If you own here, what sold and why matters more than the average.
Freehold carried July. 8 sales, 3 detached and 5 townhouses. Detached moved fast: an average of 19 days, at $1,972,667. Price a detached right and those buyers still act. Townhouses were slower at 33 days and $956,300, but still selling.
Condos dragged. 5 apartments sold, but only after sitting 61 days, at $464,500. Condo townhouses did nothing. 2 listings, no sales.
The real signal is time. Last July homes sold in 25 days. This July it took 41. Fewer buyers, and the ones out there are patient. Sellers stuck on last year's prices are getting showings and no offers.
13 homes found the number that made buyers act, out of 44. If you're thinking of selling, that gap is the whole game.
Around the Preserve
The outdoor courts at Sixteen Mile are open for the season. Basketball, pickleball, tennis and beach volleyball, right here at 3070 Neyagawa. It's the last piece of the complex that opened this spring. Go use it.
Essam Nadeem
Realtor, The Preserve Guide
Questions, or just want to chat? Email anytime.
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