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What correction?? Inventory analysis Aug 22, 2012 Oakville, Milton, Lorne Park, Clarkson

So it has been a quieter July and August in terms of home sales but my analysis doesn't seem to suggest any price drop is imminent.  Since our last inventory absorption analysis in May 2012 not too much has changed.  In fact there has been a little more inventory building up in the 750-999 category in Oakville, but tightening in both Milton and Lorne Park areas. The higher price point market (3.0mm+) seems to be absorbing some of the backlog that has been around for a few years so perhaps some of the better deals where sales to list ratios were as low as 85% may be harder to come by.  Summer time markets are difficult to gauge at the best of times so we will continue to focus on sales, inventories and of course prices in the months ahead.  Prices have moved up last year 5-10% depending on the area and neighbourhood.  Our rule of thumb is 0-3 months of inventory implies a tight sellers market, 3-6months of inventory is a neutral market, and 6+is a buyers market with lots of choice available to the buyer.  If you have any questions about this analysis or would like a breakdown of your particular area or neighbourhood we are happy to help. It is important to be informed about your neighbourhood market whether you are a buyer or a seller. Please call me direct at 9053991576 with a no obligation consult.  regards George    

 

Price Range

Oakville

Milton

Clarkson/Lorne Park

200-399k

1.63 (1.29)

2.04 (0.76)

1.66 (1.28)

400-499k

0.66 (1.37)

1.98  (1.63)

1.75 (2.36)

500-749k

1.70 (1.55)

1.53  (1.63)

1.50 (1.39)

750-999k

5.46 (2.09)

2.69  (8.5)

1.87  (2.50)

1000-1499k

4.38  (3.64)

No sales (no sales)

4.19  (2.57)

1500-1999k

9.82 (10.0)

No sales (no sales)

7.31  (10.0)

2000-2999k

13.5 (7.3)

No sales (no sales)

24.00 (26.0)

3000k+

27.69 (46.0)

No sales (no sales)

No sales (no sales)

Posted: Wednesday, August 22, 2012 2:46 PM by George Dlugosh

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