Thank you for checking out the November 2019 Real Estate Market Data. The data can be confusing, what does it all mean?
A real estate market never heads in just one direction. Several key factors can drastically influence the direction of the market including mortgage interest rates, employment levels/growth, investment growth, immigration and development. These factors can influence whether we are it is a buyer’s market or a seller’s market .
A buyer’s market exists when there significantly more homes for sale than there are buyers. The typical end results in a drop in median sale prices over time as homeowners adjust their expectations to the current market conditions.
A seller’s market typically exists when interest rates are low are there are plenty of qualified buyers and not as many homes for sale. Buyers must react quickly and often face multiple offer situations. Prices generally rise under these circumstances.
Milton agents reported 156 sales in November 2019 – a 29% increase compared to November 2018.
New listings to the Milton market in November and the active listings count at the end of the month went in the opposite direction compared to last year, with new listings down 22% year-over-year and active listings down 54%.
Interested in knowing what your home is worth in today’s market? CLICK HERE
Looking to buy? Have a look at current listings. Questions about the November 2019 Market Data? Reach out to us at homes@amyflowers.ca.
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