📉 May Market Report Summary 📈
May saw a slowdown in sales, offsetting earlier gains and resulting in a 4% year-to-date decline. The rise in new listings increased inventory levels, pushing months-of-supply to nearly three months. Affordable properties remain the tightest despite this rise.
Benchmark prices rose compared to earlier this year but were still slightly over 1% lower than May last year. Year-to-date prices have shown stability compared to 2023, despite some fluctuations.
For more detailed insights, contact me!
📞 Frank Lombardo, Realtor at REMAX Escarpment
📱 905-730-2747
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