Hey, isn’t this a great time to be selling your home?!? Yes, it sure is. Why? Because, according to the mainstream media, this is the strongest market on record, clear across the GTA! Prices are up, days to sell is down (once the anomalies are removed) and the inventory of available properties is still in the basement.
Hey, isn’t this a terrible time to be buying a home?!? Well, actually, no it’s not. You see, while prices are up, great homes are selling quickly, often with multiple offers, and selling quickly, it’s still a great time to buy! Why? Because of the interest rates! If you locked in last week, you got a rate of around 3.69%. How incredible is that? Of course, if you went variable, you got a virtually-free mortgage!
Here’s the numbers this week:
Notice the Average Price for both listings and sales of milton ontario real estate is up fairly substantially from the previous week – you can track it’s path in the next chart.
And the ongoing Annual Summary, now in it’s 2nd year:
I heard the other day about how the average price of a house in the City of Toronto was $408,000 in September – looking at the chart above, we’re right there with them!
Here’s a graphical presentation of the above:
And here’s the Absorption Rate chart. Remember, the higher the percentage and the lower the weeks of available inventory, the faster things are selling and the sooner we would run out of houses to sell.
Be sure to visit http://MiltonRealEstateNews.com after October 19th to see the third-quarter numbers for Milton Ontario real estate and the latest report on the Canadian real estate market.
