commercial market

Single-Family Home sales continued the uptrend that started in 2025 (after declines in 2023 and 2024). Condo sales have been in a downtrend since 2022. Land sales continue to fall as high building costs are making home building less attractive. Multi-family sales are nil through Q1 (same as last year), as investors for this type of property are impacted by higher interest rates. Commercial investments are likewise negatively affected by interest rates, as well as by concerns about the strength of the economy.

For the year, the number of sales of Single-family Homes were up; the rest of the market (Condos, Multi-family, Land, and Commercial were all down. With uncertainty and anxiety pervading the news, many potential buyers were putting real estate investments on hold.

The market continues to follow the same pattern, with gains in sales for single-family home sales, flat condo sales, and declines in multi-family, land and commercial. People are not as motivated to invest in real estate as they were a few years ago.