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Inventory beginning to release- September 24/2012

More inventory seems to be lingering of late and this is borne out by statistical analysis.  This is more acute in the Lorne Park, Clarkson and Sheridan       areas as opposed to Oakville and Milton areas which continue to exhibit fairly tight seller market conditions.  Most interesting is the greater inventory in the 200-400k category in the Clarkson area which has blown out to 7+months of inventory implying a reversal from a seller's to buyer's market now.   Although we shouldn't jump to major conclusions after such a short period of time, the development should be a relief to homebuyers from the frantic pace of bidding activity this year and buyers should have more reasonable negotiating ability for the balance of the year.  Will keep a close eye on these numbers going into the fall. 

Inventory absorption:  Months of inventory available in each category (houses available / monthly sales)  Last months numbers are bracketed.

(0-3 months implies tight seller market conditions; 3-6 months implies neutral market conditions; 6+ months implies buyer market conditions-lots of choice

Price Range

Clarkson Lorne Park Sheridan

Milton

Oakville

200-399k

7.14 (1.66)

2.24 (2.04 )

2.38(1.63)

400-499k

4.50 (1.75)

3.92 (1.98) 

1.96  (0.66)

500-749k

6.60 (1.50)

2.60 (1.53)

2.66(1.55)

750-999k

8.25 (1.87)

6.63 (2.69) 

5.10(5.46)

1000-1499k

9.60 (4.19 )

1.50   (no sales)

6.69(4.38)

1500-1999k

9.60 (11.0)

No sales (no sales)

11.60(9.82)

2000-2999k

12.0 (24.0)

No sales (no sales)

8.43(13.5)

3000k+

26.0 (no sales)

No sales (no sales)

16.0 (46.0)

Posted: Monday, September 24, 2012 3:25 PM by George Dlugosh

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