October 1, 2009 Everything has changed…   Six months ago we were still bemoaning a soft real estate market which certainly befitted buyers. Since then the market has turned in favour of sellers and we are now experiencing bidding situations fairly often.   June and July were record setting months for resale homes and August was up 28% over last year. Naturally, we are seeing prices move back up to the highs we experienced early last year.   This exciting market exists not just in Halton Hills but all of the Greater Toronto Area.   Why? The forces driving the market are quite evident. Low mortgage interest rates coupled with a fear that they will increase, is a major factor. This helps many first time buyers. And there is also pent up demand caused by economy scares which seem to be reducing as the media becomes more optimistic.   However, there are more subtle changes at work. People are beginning to opt for a simpler and “greener” life. (See our blog on downsizing). This is probably most evident in the ‘boomer” age bracket who find themselves becoming “empty nesters”. These people are downsizing hence a fierce demand for housing in the $300,000 to $400,000 range for bungalows and townhomes. This is the part of the market that has the greatest competition.   So much for the demand side of the market. Everywhere we hear cries of “not enough inventory”. There are not enough homes for sale, particularly in the most popular price range. It is a great time to sell.   Let us help you find your new lifestyle. We did it and we are really happy with our energy efficient, modern, maintenance free townhome.   I