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Tighter (Sellers) market conditions persist!!

Not much has changed since we last posted our analysis late October of 2011.  Over six months have gone by and in fact conditions are now tighter than before. We suspect there will be some consolidation over the summer months as recently more listings have come on the market.  However, it seems that these new listings were "needed" in that consumers of middle class homes had few choices.  Middle class dwellings continue to show tight inventory conditions in the areas studied namely Oakville Milton and Clarkson/Lorne Park areas. The lower the price range the tighter the conditions which doesn't surprise us given the low interest rate environment. Luxury properties (1mm+) continue to underperform the rest of the categories as higher inventory levels exist but even these properties have shown good inventory absorption this spring.  To all the prognosticators calling for a "correction" to the GTA Real Estate, we are going to need one of the variables to change drastically for that to happen any time soon!! 

The table shows months of inventory on offer compared with previous months sales figures. 0-3 months inventory implies a tight sellers market, 3-6 months is considered more neutral, and 6months+ is considered a buyers' market. Feel free to call me to discuss further with no obligation George 905 823 0020

 Months of inventory current (October 2011 in brackets) 

Price Range

Oakville

Milton

Clarkson/Lorne Park

200-399k

1.29(1.45)

0.76(1.29)

1.28 (0.88)

400-499k

1.37(1.79)

1.63(1.29)

2.36(2.40)

500-749k

1.55(2.08)

1.63(3.05)

1.39(4.89)

750-999k

2.09(3.12)

8.5(No sales)

2.50(4.17)

1000-1999k

4.40(5.50)

No sales (No sales)

3.88(7.00)

2000-2999k

7.30(54.0)

No sales (No sales)

10.0 (11.0)

3000k+

13.33(No sales)

No sales (No sales)

26.0 (No sales)

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