Active
Volume: 65 (-5.8%)
Low: $1,895 (-9.5%)
High: $16,500 (0)
Average: $5,209 (-1.7%)
Median: $4,500 (0)
Leased
Volume: 39 (+2.6%)
Low: $1,850 (0)
High: $15,000 (0)
Average: $5,121.67 (+2.5%)
Median: $3,750 (+4.2%)
Average DOM: 46.51 (-11%)
Having just been through trying to help a young couple, I can attest that the rental market is getting quite tight, difficult and competitive. The numbers support their experience. Leasing rates are increasing as well as average price points and days on market is decreasing. I suspect that this is still a combination of apartment buildings being torn down in place of new condo complexes, the number of people per household decreasing as millennials move out. Given that we're moving into spring and summer, I expect that this will only get worse. Time will tell though.
Volume: 65 (-5.8%)
Low: $1,895 (-9.5%)
High: $16,500 (0)
Average: $5,209 (-1.7%)
Median: $4,500 (0)
Leased
Volume: 39 (+2.6%)
Low: $1,850 (0)
High: $15,000 (0)
Average: $5,121.67 (+2.5%)
Median: $3,750 (+4.2%)
Average DOM: 46.51 (-11%)
Having just been through trying to help a young couple, I can attest that the rental market is getting quite tight, difficult and competitive. The numbers support their experience. Leasing rates are increasing as well as average price points and days on market is decreasing. I suspect that this is still a combination of apartment buildings being torn down in place of new condo complexes, the number of people per household decreasing as millennials move out. Given that we're moving into spring and summer, I expect that this will only get worse. Time will tell though.
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