Jalaj’s market update for October 2021



Hi there everyone, compared to last year October, listings and sales, both were down by 23%, in Milton. Interesting to note that, as of July, these numbers have been trending much lower than what we had seen in 2020. Whereas in the first half of the year, they were much higher. In terms of sale prices, they have continually stayed higher than what we had seen in 2020, up by 24% year to date. Looking at this graph, we can see that, as of July, the prices are once again on a sharp upwards incline, with October numbers coming in 27% higher than same time last year. It is to be expected that low inventory coupled with a robust demand will translate into higher prices. And I don’t see that pattern changing in the near future, even with the rumblings of increase in mortgage interest rates. Somewhat harsh to say, but one we have looking at rising prices is to think that you’re buying houses, not at today’s premium, but at tomorrow’s discount. You take care and talk soon.