Mar. 15, 2009 - Milton Total Market Overview

Hi, it's time for the weekly Milton Total Market Overview for the week ending Friday, March 13th, 2009.

The market remained consistent this past week, with a total of 23 sales reported, and only a 1% growth in the number of properties available, up to 408 properties for sale. As you'll note when you review the data, the bulk of the activity is in the under-$300,000 price range, with approximately 60% of all sales occuring in that area. The range from $300,000 to $350,000 saw 15% of the sales, so one can clearly see that the current activity is being driven by the incredibly low interest rates and prices that are lower than in the last couple of years.

In fact, I am presently working with 4 couples who have been holding off their buying process, in the hopes that rates and prices would come to where they are, and these folks are reaping the rewards of their patient gamble.

You'll also notice that the days on market is fairly consistent, and if it weren't for a couple of anomolies, would have been less than 6 weeks on average.

You know, the most common thing people are saying to me these days is 'How's the market? I hear it's pretty lousy', and my response is always the same. "First of all", I advise them, "the market is very local, and even a town as small as Milton is facing more than one kind of market right now. However, in general, this is not the kind of market where you just put your home on the market to see what you can get for it". I then go on to say that "if you have $15,000 or so available, this is an incredible market for you to buy an investment property that will pay for itself. Where can you get $15,000 from today?". My point here is that this market is presenting opportunities that haven't been seen in this area for more than 20 years, and yet 99.9% of people with access to that kind of money are not taking advantage of those opportunities to secure the future of their family.

On that note, why not come on out to the next Millionaire Real Estate Investor workshop, coming up on Tuesday March 17th, 2009, at the Best Western Inn on Chisholm Drive in Milton? You can get full details and sign up at http://MREISeminars.ca

Who is the next person you know who would love to own a home of their own? We're having a very special 'Your First Home' seminar on Thursday March 19th, 2009, at the Best Western Inn, Milton, from 7 to 9pm, and you can get more details at http://AllMiltonHomes.com

This week's Total Market Overview is available here: http://TownofMilton.com/TMO-03-13-09.pdf

To view a brief TV show on the Canadian real estate market this month, go here, and to view a PowerPoint video showing some different information, here

Follow me on Facebook