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Oakville Milton and Clarkson/lorne Park areas still well bid-except for the higher end

Non luxury (1mm +) housing in Oakville Milton and Clarkson/Lorne Park areas continue to display a seller's market.  It is only when we get above the 1mm mark that the absorption rates move to a "buyers" market condition.  A tight or sellers' market exists when less than 3 months of inventory is available.  In other words if no new listings came on the market the inventory would be absorbed within a 3 month period.  Similarly a "neutral or balanced" market exists when inventory levels are between 3 and 6 months.  A 'buyers" market is said to exist when inventory reaches above the 6 month mark.  Here is the September 2010 chart:

                             Oakville                       Milton                  Clarkson/Lorne Park W13

200-399.9k                 2.62                           1.73                         1.54 months of inventory available

400-499.9k                  3.03                           1.97                         2.82  

500-749.9k                   3.61                           7.25                       5.44

750-999.9k                    7.33                           too few                   3.82

1000-1999.9k                 8.18                           5.00                        9.17

2000-2999.9k                 no sales                     23.0                        no sales

3000k+                          no sales                       no sales                 no sales

Oakville seems to be moving neutral after 500k, while Clarkson/Lorne Park and Milton are already there.  This means fewer if any multiple bidding situations and more negotiating room for buyers. Under 500k still shows tightness so there doesn't appear to be as much negotiating room for buyers.  Stay tuned, lets see how the market changes this fall especially with many prognosticators calling for a "correction" in the real estate market.  On average this seems plausible but may not play out to the same extent in the under 500k list price ranges.  Stay tuned!

Posted: Thursday, September 30, 2010 2:03 PM by George Dlugosh

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