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Tight market conditions continue to dominate- Oakville, Milton, Clarkson and Lorne Park

Tightness continues to persist throughout price ranges from $200k-1mm in Oakville, Milton and Lorne Park.  The entire price range under 1mm has inventory levels below 5 months.  Most are closer to 1-2months of inventory.  These are extremely tight conditions which imply that prices will continue to firm while this type of demand/supply situation persists. 

Price Range

Oakville

Milton

Clarkson/Lorne Park

200-399k

1.56

2.24

1.63

400-499k

4.33

2.46

1.89

500-749k

2.0

3.18

2.75

750-999k

1.38

3.59

1.00

1000-1999k

No sales

10.6

No sales

2000-2999k

11.0

12.0

No sales

3000k+

No sales

31.0

No sales

The media has been reporting the last several months that sales are down some 20-25% year over year.  Unfortunately for the buying public no real "correction" has taken place due to the number of listings also being down a similar amount and in certain sectors more than 25%.  In fact during December we did see a return to "bidding wars" that we were experiencing in spring 2010. If we are to believe the prognosticators  we will see a return to more "normal" markets this spring as more listings come on the market and "buyers" can get some relief from the last 18 months of high paced "fast market" activity.  Sellers may want to try to take advantage of the current situation and list sooner rather than later.  Feel free to call me direct at 905 399 1576. 

Posted: Monday, January 24, 2011 3:28 PM by George Dlugosh

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