This is a very interesting time in a very interesting year.
May is typically the month when we see the greatest number of homes for sale. This year we a trending below the previous years in terms of total inventory and that’s a very good sign. But our rate of increase is about normal. So all things being equal, it would appear that 2011 is tracking on a very normal plane when considering the number of homes for sale.
Sales are a bit different. The easy numbers are, “monthly sales are up about 5% over last year and 15% over 2009″. Which is a pretty Rosy picture. But with more focused review you see that after an early push as the start of the year, monthly sales appear to have leveled off over the last 60 days. This is the season when we normally see the market getting stronger, with sales increasing by significant percentages but in fact the increase in 2011 has been only 5% over the last 60 days. (which paints a not so rosy picture).
But – looking at the total sales for the year – you’ll see that even though the velocity seems to have stalled we are infact a bit ahead of last year. So …. when looking to the future, unfortunately we’ll have to wait another month or so to see weather we’ve peaked or weather sales will regain some of the spark they enjoyed early in the season.
Now more than ever, it’s critical for sellers who really want to make a change to price to the market. It’s not necessary to give your home away, but buyers are becoming much more knowledgeable about market conditions and have adjusted their expectations accordingly.
I can help with that … so please, feel comfortable introducing me to any family members or neighbours you may have that you think could use my help.
Call Anytime 1-800-267-1166 905-373-6283