06/06/2026
A Healthy Market Takes Shape This Spring.
The local real estate market continued to show signs of stability and opportunity throughout May, with average sale prices trending upward month-over-month and inventory levels providing buyers with more choice.
The average sale price in May reached $550,872, representing a 1% increase from April's average of $546,543. While the year-to-date average sale price of $519,413 is 3% lower than the same period in 2025, recent monthly gains suggest that pricing remains resilient and market conditions continue to support healthy activity.
The $400,000 to $500,000 price range was the most active segment of the market, accounting for 26% of all sales. This demonstrates continued demand for homes in attainable price points as this range falls below the average sale price.
A total of 139 homes sold in May. While sales volume was lower than the 163 transactions recorded in May of last year, increased inventory is creating more balanced market conditions. New listings rose to 357 properties, up from 305 a year ago, giving buyers a wider selection of homes to consider.
Homes sold in an average of 30 days during May, indicating that well-priced properties continue to attract strong interest. Sellers also benefited from an average sale-to-list-price ratio of 98%, demonstrating that buyers remain willing to pay close to the asking price for desirable properties.
The sales-to-new-listings ratio of 39% reflects a market that is balanced, providing opportunities for both buyers and sellers. Buyers are benefiting from increased selection and reduced competition, while sellers continue to achieve strong pricing when their homes are properly prepared and marketed.
Financing conditions remain favorable, with 5-year fixed mortgage rates offered by Canada's major banks hovering around 4.5%. This level of borrowing cost continues to support buyer confidence and affordability.
Overall, May's market activity points to a healthy and balanced real estate environment. With inventory improving, prices remaining stable, and mortgage rates relatively attractive, both buyers and sellers have opportunities to achieve their real estate goals as we move further into the 2026 market season.
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