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Safety: 5/5 - Active neighborhood watch, low crime rates
Schools: 5/5 - Highly-rated public and separate schools
Housing Market: 5/5 - Diverse options from entry-level to luxury
Commute: 5/5 - 25-35 min to downtown, multiple transit options
Family-Friendly: 5/5 - Parks, playgrounds, community events
Amenities: 5/5 - Shopping, dining, recreation facilities
Diversity: 5/5 - Mix of families, professionals, retirees
Jobs: 4/5 - Local employment centers nearby
New listings in May improved over levels seen earlier in the year, but thanks to monthly gains in sales, the sales-to-new listings ratio remained exceptionally high at 89 per cent, preventing any significant shift in the low inventory situation. While sales activity is still lower than last year’s levels, this is likely related to the lack of supply in this segment of the market. Inventory levels are down 50 per cent compared to last year.
With less than one month of supply, it is not a surprise that prices continue to rise. In May, the benchmark price reached $390,500, a two per cent gain over last month and nearly nine per cent higher than last year's peak price of $359,600. Row prices rose across all districts, with year-over-year gains exceeding 15 per cent in the city's North East, South and East districts. The slowest price gains occurred in The City Centre, North West and South East at rates of over seven per cent.