The Western Region continued to experience robust market conditions in October with residential sales up 14.9% year over year, marking the third-highest October sales figure ever after 2015 and 2016, with 208 sales reported this October vs 181 sales for the same period last year.
On a year-to-date basis, home sales in the Western Region numbered 1764, up 11.2% over October 2018. New listings totaled 315 at the end of October vs 256 in October 2018, boasting an impressive 23.0% increase year over year. Active listings were up 9.9% over last October with 698 properties available vs 635 in October 2018. Despite the increase, overall supply remained quite low compared to historical levels. The average sale price for a residential property was an astonishing $585,289, up 12.5% year over year, reaching almost record highs and likely creating affordability issues for some Buyers. More listings however, is good new in that regard as Buyers continued to be attracted to the Western Region where they could find housing options and embrace the quality of life in the region.
