Market Report May 2018 VS May 2017


Here are the numbers for May 2018 verses May 2017.
What do you see?
Last month we saw how the numbers in 2018 are significantly lower than those in 2017.

This trend continues through May 2018 VS May 2017.
Average Sale Price in 33% of the areas are actually down from 2017!
Houses are taking approximately 75% longer to sell ( D.O.M – Days on market) and the number of sales overall are approximately down 18.5%.
As always, any questions, don’t hesitate to ask!

Have a great Canada Day weekend!

I hope you enjoy all that is happening in Niagara this weekend! 🎉

“Everything was well handled from the beginning.”

“Everything was well handled from the beginning.
The initial meeting with Timothy and Jim was very positive.
The process was explained to us and we knew what to expect. Working was Jim was a great experience!”

-Marcello Cacciotti and Cathy Nursall.-

” It was an amazing and easy ride.”

“Thank you Tim and your team.
You made the experience of selling our house so easy and stress free, it was awesome.
From our initial meeting, to listing, to helping us find our new home.
It was an amazing and easy ride.
We would recommend the Salisbury Team to anyone looking to buy or sell a house!!”
~Jason, Amanda and Emily Berg

26 Cole Farm Boulevard is SOLD FIRM!

Have you missed it? Still looking to buy or sell a property?
Need advice?
Check out our site for more information, or call our office.

905-688-4561.

“The house is sold! Thanks to Timothy and his Team!”

“My wife Lynda and I first met Timothy 17 years ago, when we used his expertise to sell our townhouse and buy the detached home we are still happily living in today!
Through the years, Timothy stayed in touch with thoughtful gestures and emails.
When my parents’ house had to be sold recently, I knew the only professional for me to contact was Timothy.
Timothy and Jim Gifford advised and guided us through the whole process of preparing the house for the market.
Today, while writing this, I am sitting here with a big smile on my face.
The house is sold! Thanks to Timothy and his Team!”
~Bob and Lynda Hainstock

Attention Buyers!

Attention Buyers!

As of Monday, May 14th, 2018, the minimum qualifying rate for mortgages increased from 5.14% to 5.34%.
This will decrease the total mortgage amount you will be able to qualify for.
Just as a side note, one year ago the qualifying rate was 4.64%.
To give you an idea of how much impact this has, a couple with a $120,000 household income would have qualified for a mortgage as high as $800,000 a year ago.
Today, that same couple would only qualify approximately for around $600,000. That’s a 25% drop!

Read more about it in this article of the The Financial Post .