Performance for June and July

It is encouraging to see that the number of sales for both June and July have shown increases over the same month last year. There is a general feeling in the air that the Real Estate market is a fairly safe place to invest.

Interest rates continue to hang lower and there is still a number of properties to chose from in any given segment oif the price spectrum. It is interesting to note that the number of rentals available has seen a sharp decrease from the numbers during the Spring.

The monthly list to sell ratio has been increasing from a low of 10.53 in January to July's number of 43.34. So that means that we have gone from a little better than 1 in 10 listings seling to a little better than 4 in 10 listings selling. This latest number for July is better than any month so far in 2009 and is also better than the numbers in 2008.

This is encouraging because the trend has been steadilly improviing. This is still a market that is slanted towards the Buyer but a continued trend could mean that we will find ourselves in a Sellers market. This will make it more difficult for the Buyer to negotiate in their favor. there are a number of factors that will play on these numbers as we head into the fall market.

Already I am seeing increased traffic through the office and on the phones. The number calls to check out prices has also increased. Is this the fall market already knocking on the door?

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Doug Fraser

Doug Fraser

CENTURY 21 Millennium Inc., Brokerage*
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