East Gwillimbury Market Watch for November 2008 (Sharon, Holland Landing, Mount Albert, Queensville):

The average price in the Town of East Gwillimbury in November of 2008 was $407,100 for single residence properties, which is a decrease of 2.1% from October 2008. We saw very few sales during November and the volume of all transactions on the residential market decreased dramatically by almost 50%. At the same time the number of new listings dropped down by almost 40% over the previous month. The total number of active listings on the market (113 in November versus 117 in October) shows a large inventory of properties giving buyers and sellers the opportunity to research and look for a longer period of time. We saw the average days on the market for these houses dropped down to 37 days from 57 days in October due to the adjustment of listing prices. It is important that in this area the new properties on the market are priced correctly for a quick sale. Given this we are still seeing a strong ratio of sale to listing price of 96%.

For more information or with any questions please contact Margaret Kisza at 416 543 9264 or mkisza@sympatico.ca