We are very happy to see the sales activity in November return to more comparable long-term averages for sales numbers. Interestingly enough, we saw a jump in sales in the lower price ranges of $550,000 and below. While most of the year we have seen sales activity in the $550,000 - $1,000,000 be the most active market that properties are moving in, seeing the lower price points have an uptick is a great sign. This coincides with the rental vacancy rates dropping for the first time in threes years to 6.3%. These two factors could be very good signs for the apartment style condo markets which could use some good news!
With encouraging signs in the market, we are continuing to have an optimistic view of what is ahead in 2018. While we expect the markets to slow through the Holiday season, we do expect the momentum to pick back up to normal levels in 2018.