Amazing May Sales

May was a great month for sales of resale homes in Newmarket.

159 sales this May, compared to 140 from the same month last year. Thats 3 months in a row with a greater number of sales than last year.




Largely due to low interest rates and increased consumer confidence, the local market appears to be gaining strength after the poor winter months Between December - February which collectively only had 139 Sales.




An interesting news story in the Globe and Mail (June 13, 2009) showed how the end end market is still booming. May 2009 in the GTA had the highest number of $1Million+ homes sell in History with 273, beating our May 2007's figure of 266. Many factors could play a role in this, but as the article explains, the timing of low interest rates seems to have a lot to do with it as buyers are coming off the fence and jumping in the market again. (similar artilce can be read at http://toronto.ctv.ca/servlet/an/local/CTVNews/20090612/toronto_home_sales_090612/20090612/?site_codename=Toronto)


All is all, the market is strong and if you are thinking of jumping in the market, there has never been a better time.


If you already own your home and are concerned about selling for less today than possibly next year or the year after, keep in mind that what you plan on buying will also be more expensive. Most people forget that the market is all relative. If prices go up 5% in a year, thats $20,000 on a $400K house and $15,000 on a $300K house. The longer you wait, it may actaully cost you.


If you are thinking of buying or selling, whether it be today, next month, within the year or even next year, please don't hesitate to contact me to put a plan in place. Buying a home should not be a snap decision if you don't know what your doing and making sure you are prepared and have a plan in place will make your home purchase all that much more successful.