New listings means homes newly listed in August, not the total number of homes for sale. Days and price are averages.

Versus last August: average price up from $1,247,540, new listings down from 67, sales down from 20, and average days on market down to 27 from 30.

The average went up this month, but don't read too much into that. It's up because only freehold sold. No condos in the mix pulls the number higher.

Freehold did all the work. 13 sales, 6 detached and 7 townhouses. Detached averaged $1,758,833 and sold in 23 days. Townhouses averaged $914,000. Both are down from last August, when detached was just under $2M and townhouses were around $935,000.

Condos went nowhere. 9 apartments and 2 condo townhouses came on the market and none of them sold. If you own a condo here, that's the number to sit with.

The good news is speed. July took around 40 days. August took 27. And sellers who sold got about 97% of their asking price, which is where it's been for a while now. Price it right and buyers are still showing up.

Kids are back at school, the driveways are full again, and the neighbourhood is back to its normal rhythm. The market does the same thing. September is when buyers who took the summer off start booking showings again.

Here's the part I'd pay attention to. Only 32 homes came on the market in August. That's the quietest summer month for new listings in over three years. So a home listed in the next few weeks has less competition than it's had in a long while, and buyers coming back from vacation have fewer options to look at.

That doesn't mean list high and hope. August showed that homes priced right went in under a month, and the ones that weren't just sat. If you've been thinking about selling this fall, or you're curious what your place would go for right now, reply to this email. No pressure, happy to just talk it through.

Essam Nadeem

Realtor, The Preserve Guide

Questions, or just want to chat? Email anytime.