Attached sales activity is expected to remain relatively weak due to improved options in the more affordable price ranges of the detached sector and in the new-home market.
High inventories will fuel further price declines across the attached sector next year.
While supply levels are expected to adjust, it will take time for inventories to return to normal levels.
Things to consider in 2019:
- Attached sales are expected to total 3,448 units, 2.5 per cent below 2018 levels.
- Persistent oversupply is expected to weigh on attached prices, causing an expected decline of 2.49 per cent in 2019.
- Any improvements in the affordable price ranges of this sector are expected to be offset by challenges in the higher-priced product.
A recap of semi-detached product in 2018:
A recap of row product in 2018:
- Row sales activity is evenly spread throughout the city, except the East district, which has a small concentration of all the sales.
- Sales activity declined across all districts, except the North East.
- In response to weaker sales and elevated inventory levels, new listings started to ease. This was consistent throughout most districts, except the North and West.
- Adjustments in new listings helped prevent larger gains in inventory, but overall inventories continued to edge up.
- Price adjustments ranged from a high of six per cent in the North East to relatively stable prices in the North West district.
- Prices in the row sector have declined for the third consecutive year on an annual basis and currently sit nearly 10 per cent below previous highs.