Here are the statistics for last month:

The number of condos on the market increased from 563 to 611. Over the last 5 years, we averaged 1165 condos available for sale in a typical September so inventory is only about half of what it usually is.

The number of condos sold in September decreased from 414 to 377. This number is typical for September.

The low inventory is supporting the condo prices and unless we see a significant change... we expect this to be a price floor going forward.

The median price of a downtown condo was very slightly up from $530,000 to $545,000. This is the 7th month that the median price has been above $500k and prices have only risen since July. This price resilience is encouraging and leads us to believe it is sustainable.

Comparing the detached house market to the condo market has been really interesting this year. House prices bounced back into the black for the year, perhaps we'll look back to August as being the ideal time to purchase a home in 2017. Condo prices have been quite stable since May but 2017 is on track to be a fantastic year for condo owners. We don't expect to see Home price appreciation to catch up to with condos this year which makes this an exceptional year.

Over our careers, we have helped hundreds of people buy and sell their condos and homes.