Lake Shore East Condo Market
This week I want to address the condo market recovery in the Lake Shore East community and look at the trends by price range. For those of you who have not read my previous blogs, the "Months Supply's Impact on Price" chart on the left, shows the relationship between the number of months of housing inventory and the pricing trend. It defines the type of market we are experiencing - sellers, even or buyers market. In a sellers market, inventory is low and sellers have the advantage, we will often see competing offers and a rise in prices. Whereas in a buyers market, inventory grows relative to demand and prices depreciate.
To get a clearer picture of the condo market, I have segmented the Months of Remaining Inventory…
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