Welcome back to the roller coaster ride that is the Milton Ontario real estate market! Looking at the numbers this week, I had to make no adjustments to take out anomalies of sales for houses that have been on the market for a long time. I did some investigation into this, as it is a measure that can reveal deeper information on what is happening in the market place, and I found that 18, or 14.2%, of all listings have been on the market for more than 75 days, and 14, or 11% of all listings have been on the market for between 50 and 74 days. Add to that the 23, or 18.1%, houses that have been on the market for 25 to 49 days and you have a total of 43.3% of all houses available for sale have been on the market for more than 25 days, and the average days on the market, adjusted for anomalies, is 24 days.
This calculation doesn’t take into account that houses over $500,000 are taking longer to sell, however, there are fewer of them on the market. What the number reveals is that 43.3% of all houses for sale are being rejected by the market.
If you are thinking of selling, our exclusive Dress Your Home For Success program can be the winning edge that, combined with our exclusive understanding of the market, will place you squarely in the winning side of the equation.
Here’s the weekly Total Market Overview for your review:
As you will see, there have been few sales this week, and it could well be due to the arrival of Summer weather; a number of my clients stepped out of the buying market and decided to take advantage of the good weather to go away.
Here’s the Weekly Absorption Rate update:
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The Absorption Rate is an indication of how long it would take all available homes to sell, if no more homes came onto the market.
And the Annual Summary of Listings & Sales:
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Here is a graphical representation of the Weekly Summary of listings, sales, cancelled listings, and days to sell:
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And the numbers for the chart above:
If you would like more information on what is happening in the milton ontario real estate market, please give me a call at 905-208-7002 or fire me an email to chris@chrisnewell.com
Milton Ontario Weekly Real Estate Update 08-21-2009 « miltonblog.ca and miltonblog.com
on Aug 21st, 2009
@ 6:19 am:
[...] milton ontario real estate market came roaring back to life this past week! As noted in last week’s update, the sudden one-week dip in activity can most easily be attributed to the sudden arrival of Summer, [...]