Another fascinating week of activity in town, with the number of sales being down 33% over the previous week, and the number of available properties staying relatively consistent. I’ve included a graph to give a clearer visual presentation of the trend over the past 8 months, and it is quite interesting.

I have to repeat what I’ve been saying every week – multiple offers abound. I was involved in 2 more this week. Also, as agents are catching up to the changing market, some of the benefits to buyers

are already disappearing. For a couple of months, it was easy to get an offer accepted conditional upon the sale of the buyer’s property; now it is virtually impossible. Why, you might ask? Because if the house is priced properly and shows well, it seems increasingly likely that there will be multiple offers, so there won’t be a need to accept a conditional-on-sale offer.

What this means for sellers is that NOW is a good time to sell! What this means for buyers is that the window is rapidly slamming shut! The perfect storm I’ve been talking about is rapidly dissipating. Sure, it may come back, but it may not come back for 5, 10, 15 years. I have to speak straight from the heart, and ask when people are going to get off the fence and take action? We’ve seen prices inching up; the supply is down, and still people are trying to time the market. Guess what folks – you missed the bottom of the market. Don’t keep trying to do the impossible; just get into the market now!

Call me today at 905-208-7002, and we’ll get you moving along the path to owning a home, or an investment property, while the options are still out there.

Here’s the updated Annual Summary:

Milton Real Estate Activity Summary 05-22-09

And here’s the weekly overview:

Milton Real Estate Weekly Summary

And here’s the weekly summary graph of listings (green) and sales (red):