The question I get asked the most (almost daily) is "How's the market like?". They say a picture is worth a thousand words so I've attached a photo for all of you to see for yourselves. Obviously, looking solely at number and figures can only go so far and that's not what people want to know when speaking with me and asking me for advice. So here's what I think is happening with the current market from September to now.
Certainly when compared to September 2018, the market is much more active with 22% increase in sales. Now this is no coincidence; mortgage rates are stabalizing in 2019 compared to last year where it was very volatile and fear of a market crash was inevitable. Time has shown us that where demand far overshadows supply, prices will inevitably increase. From the illustration below, we also notice a lower number of active listings. This could be attributed to listings no longer sitting and becoming stale over a long period of time. Listings are selling quicker and also at a higher price. DOM stands for "days on market" and that clearly shows that there's an 11.5% decrease from last year.
All in all, the market is still quite active in September and is showing no real signs of a slow down until the end of the year.
Feel free to contact me to discuss about the market, real estate, NBA, or anything else you might be interested in. Till next time.
