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December 2009: The Shortage Continues

Posted December 14th, 2009 under market updates.

The shortage of listings in the Bramalea area continues. In the first two weeks of December, more homes have sold than in any December since 1990, but new listings are not appearing quickly enough to keep pace with sales. With the banks promising to keep interest rates low, the demand for homes will continue. If listings do not keep pace, prices will escalate beyond the level of affordability, even with interest rates at unprecedented lows.

So, this Christmas, hope for more listings! The present market is perfect for anyone who is selling and not buying, but a mad scramble for anyone buying and not selling. For those who are upgrading or making a lateral move, the situation has less of an impact because the old saying “sell for a dollar, buy for a dollar” always holds true.

Want advice on navigating these unique market conditions? Just ask me, I'll be happy to help.