REAL ESTATE MARKET UPDATE JULY 2009

ACTIVITY GAINING MOMENTUM

Hello Everyone,

I thought it would be a good time to say Hello to all my past clients and contacts,  to provide a market update and to introduce our newsletters that we plan to send out to you on a regular basis.

First the market!  Although the market activity is down year over year from 2008 to 2009 for the same time frame, market activity month over month this year is steadily gaining.  For example; market activity (units sold) for Hamilton Mountain was down approximately 17% from January 1^st, 2008 to April 30^th, 2008 versus the same time period in 2009.  Ancaster activity was down 25% for the same time frame.  May 2008 versus May 2009 has improved noticeably and in Toronto for instance sale activity actually improved by 2% for this period.  Interestingly, the average sales price for Hamilton Mountain and Ancaster has not changed much at all.  Mortgage rate such as 3.7% for a 5 year term are certainly helping especially for the First Time Homebuyer Market and for those moving up.

Is it a good time to make a move?  In my opinion, yes for most.  Interest rates are manageable, selection is adequate and selling and buying prices are relative.  Downsizing or moving up, the opportunity is there.  Of course job stability is a factor that is impacting on decision making.

We are finding that if a home is properly prepared for market physically, priced fairly and exposed extensively the sales results are somewhat surprising.  In my business, our listings have sold for an average above 99% sale price to listing price for this year so far!

Next, our newsletter.  We hope you will enjoy the read.  We will feature a home we have for sale and include some well researched articles that we hope you will find of interest.

All the Best!