May 2023 saw 135 active Phase II listings.  This compares to 94 in May 2022 and represents a 44% increase in listings year over year.

We saw 30 hotel-condo apartment’s sell in May 2023 compared to 50 in May 2022, a decrease of 40%.

Average days on market increased 63% from 40 DOM in May 2022 to 65 DOM in May 2023. Year To Date volume (Jan – May.) was down 25% from $27M in 2022 to $20M in 2023.

Median sale prices for the hotel-condo sector are increasing.  In May 2022 the median sale price was $480,000.  Last month it had risen 3% to $494,500. This increase in sale price appears to be a trend for 2023 as more buyers turn to the hotel-condo market to satisfy lifestyle and investment goals. We recently saw a record price for both a 1-bedroom and 2-bedroom at the Westin and also a studio at the Delta Village Suites.