Listings Please!
Tuesday, October 25, 2011 at 10:41AM
Lindsay Walls

 

It's partly the time of year, partly the market but I encourage anyone who is thinking about selling their home to think long and hard about it right now.  Homes are being scooped up so quickly that I am starting to feel like an on-call doctor, rushing to take my clients out to see new properties before someone else has a chance to scoop them up.  

I was doing some research for a client and came across some crazy stats.  I wanted to see if it was just because I am particularly busy or if the numbers supported my gut feel.  In the past 15 days, 32 homes have sold in Oakville in the $400,000-$500,000 price range with an average list to sales ratio of 99.25% and an average time on market of 15 days.  These are incredibly high and low numbers respectively indicating very strong buyer demand.  As a comparison, I also looked at the average list to sales ratio and days on market for homes in the $400,000-$500,000 range from Jan 1-Sep 30th, 2011.  The numbers were 98.38% and 24 respectively.  As the figures show, This year has been an extremely strong year but it appears that there is even more buyer demand being felt in the past few weeks at least at the $400,000-$500,000 price point.  Traditionally, this is a very popular price point however I suspect that we would see similar trends at other price points as well.

I don't say this to worry potential buyers or pressure people into jumping into a purchase.  I've come to appreciate that buying a home needs to be looked at from both a personal and financial situation.  It is after all the only investment you can actually live in.  There will continue to be great homes that come on the market in the coming months however if you are thinking of buying in the near future, I would consider where the market is heading.  If like me, you think we will keep trending towards higher prices in the short term, I would start the process of purchasing my next home sooner rather than later.

If you are thinking of moving and want to understand the ins and outs of Life in Oakville, I am happy to speak with you.  I can be reached at 905.484.5162 or lindsay@remaxaboutowne.com.

I look forward to hearing from you!

Regards,

Lindsay 

 

Article originally appeared on Lindsay Walls (http://lifeinoakville.com/).
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