What’s the Market Doing?
I get this question every week when I talk to people. Everyone wants to know How’s the market? Is it stable? When is a good time to buy/sell?
In Canada we have been blessed with a very steady and stable market for the past 15-20 years with slight variations. Our current market continues to be stable.
Here’s a look at what happened this summer:
JULY & AUGUST
Sales activity was stable for July and August but posted another big year over year gain reflecting weakened demand in the summer of 2010.
For a second consecutive month, national home sales activity held steady in August 2011 when compared to July.
Toronto and Ottawa posted a monthly increase in activity while Calgary, Montreal and Vancouver saw a slight decline in activity.
YTD sales pulled ahead of 2010 levels for the first time this year, and remain in line with the ten-year average.
NATIONAL HOUSING MARKET
Stayed firmly fixed in balanced territory. There were more balanced local markets in August than at any other time on record. The national average price posted another year-over-year gain in August, but has moderated from elevated levels earlier this year.
Fewer expensive sales and a declining share of national activity in Vancouver and Toronto have lead to an upward tilting of the national average price.
WHAT DOES THIS MEAN TO YOU?
If you are a homeowner, your home’s value has increased and if you are thinking of selling you may want to get a free home market to see what your home is worth today.
Call me at 905-407-3274 to book your complimentary appointment.
LOOKING TO BUY?
With interest rates continuing to be low, it is a great time to talk to a Mortgage Professional. I have information that can help you start the journey to homeownership.
Contact me to find out more.
“Whether Selling or Buying in the Oakville Burlington area,
I help you with all your Real Estate needs.”
Source: According to statistics1 released today by The Canadian Real Estate Association (CREA),