So, before you see the numbers, do you think we’ve entered the traditional December slowdown period yet? Milton Ontario Real Estate usually slows right down, although far less that in the 1980′s & 1990′s.

Here’s the chart for the Total Market Overview, by price range:

As the chart above reveals, the number of sales has indeed slowed in comparison to the last couple of weeks, and the average price range of activity is much lower. Comparison to the same period last year might tell more of a story?

Nope – the number of listings year-over-year is down by 330 properties, but the number of sales is up by 50%. Not only that, the average price is up by 30%, so I think it is safe to say that milton ontario real estate is still thriving.

But what about the absorption rate?

Obviously, there’s still a pretty dire shortage of listings. It is always interesting to me that whenever there is a shortage of listing, more and more people decide to sell themselves. I give them full credit for trying, I really do. What I don’t understand is why they go and spend $1,000 on one of those companies who does nothing for them, and then in 3 weeks, list with an agent. I don’t understand, from a financial standpoint, why people sell privately when national statistics show that people who use a Realtor sell for an average 11% more. However, it is their right and I respect them for wanting to try it.

Finally, here’s the graph of the Annual Summary of Weekly Numbers:

Because we’re near the month end, there’s a whole lot of information in this post about the milton ontario real estate market, with my commentary sprinkled throughout.

I’m going to start off with the monthly summary, as released by the Oakville, Milton, & District Real Estate Board:

As you can see, and regular readers will have known for some time, all of the numbers except available listings, are up substantially over 2008′s numbers. That’s a double-edged sword, depending what side of the fence you are on – buyer or seller.

Next, I’ll show you the monthly averages, by house type. In these charts, DOM signifies Days on Market, or the number of days a property takes to sell from initial listing date to the date all conditions are removed from the offer.

This first table shows numbers for Condo Apartments in Milton Ontario:

Next, Condo Townhouses:

Next, Freehold Townhouses / Row Houses:

Then comes Semi-Detached Houses in milton ontario:

And finally, Detached & Link Homes:

As you can see, the market is significantly better for seller’s this year compared to last, and for buyers, the ‘better’ part comes from the low interest rates.

Here’s this week’s Total Market Overview:

You’ll notice the price range of $0 to $240,000 has a very long average days to sell – that is completely skewed by one property that was on-&-off the market for a few years.

Here’s the Annual Summary of Activity:

and the graphical representation:

GREAT numbers again this week, as is backed-up by the Absorption Rate information:

WOW – Same-Week 2008 we had a 47 week supply of houses compared to a 3-week supply of houses!

I’m switching over to a new format for market reports in January – a service provider will be compiling the information for me, while we will both be providing analysis; him from a technical standpoint and me from an in-the-trenches viewpoint.

As always, your comments are most welcome!

Yes, it’s that time again – time to do the numbers and see where we’re at in milton ontario real estate this week. It’s been a fairly quiet week in the market, with sales being down about 35% over last week, while available inventory is up 10%. The average price this week is up over last week, by about 9%. Comparing the numbers to the same time last year, the number of available listings is down by 80%, the number of sales is up by 25%, the average sale price shot from $277,000 to $440,000 and the days to sell dropped from 38 to 15. The average list-to-sale ration also rose by 2% over last year!

So, to what do we owe these big changes? Well, last year, the US was really mired in their financial meltdown, and Canadians were only in the beginning stages of holding back their moving plans, as is evidenced by the fact that we had a more normal 545 houses on the market. Another factor would be that the discounted 5-year mortgage rate is down by approximately 1.5% over 12 months ago. That equates to a saving of about $200 per month for every $100,000 borrowed, which is a huge jump in purchasing power. Another factor is that it is somewhat easier to borrow right now than it was 12 months ago. However, I think the overarching factor is probably that the Canadian psyche is feeling better, having had a year to see what cross-border effects the US meltdown will have.

Here’s the annual summary of Milton Ontario real estate activity:

And the same information in graphical format:

The Absorption Rate – this chart will be very revealing over the next few months, as we move through the holiday season and people begin planning their Spring move:

Remember when reading the chart above that the ‘Absorption Rate – Weeks’ column refers to how many weeks it would take for every house on the market to sell at the current rate of sales and no new properties coming on the market.

Here’s the same information in graphical format:

And finally, the milton ontario real estate market total weekly overview of activity by price range:

As always, if you have any questions about any of the information, please call me at 905-878-4444 and I’ll be happy to discuss how your home fits into the market, or to answer any questions you might have. I’d love to read your comments on my thoughts about why the market is the way it is right now.

Before I get into this week’s milton ontario real estate market activity report, here’s some information from the toronto real estate board (treb):