Supply this tight means a correctly priced, well-maintained home is competing against fewer alternatives than in a buyer's market, which generally supports a stronger negotiating position for the seller. Sales of 446 units were 6.6 percent above the ten-year average, showing buyers are still transacting at a healthy pace.
The counterweight is that new listings rose 12.3 percent, so the field a seller competes against is growing, not shrinking, which makes presentation and pricing more important than the headline market condition.
A market summary cannot tell you what your specific house is worth or how it will show against the current competition.
Get your hand-reviewed valuation from Joel Dyck.