It's hard to believe we are headed towards the end of the summer.  With that I have seen so many people posting about being away on vacation.  We finally get to do that again!  I joked with some of my clients that I feel everyone is in Europe right now.  

With that, we have absolutely seen a slow down in the market.  I don't believe it's all the doom and gloom that the media reports.  Homes are still selling and buyers are still looking.  We have seen the average days on market increase, selling prices decrease.  It's really not a bad thing.  Buyers now how the opportunity to think about one of the largest purchases that they will make and they even get to book a home inspection.  

Currently as of today, in Georgetown there are 100 active listings.  In the last week 3 homes sold.  In Glen Williams there are 10 active listings, 1 sold in the past week that was in the 3 million range.  Acton has 18 active listings and 2 sold in the last week.

It's also interesting to note that we have had a significant interest rate hike of 1% with the Bank of Canada expected to release another announcement in early September.  My advice to buyers is to consider buying now if you are locked in at a lower rate.  Even with the higher interest rate, the home prices are much lower than the begining of the year so chances are, your monthly payment would still be the same.  Check with your mortgage broker on what would be the best approach.

As for Sellers my advice is to look at the most recent data for your area.  Be realistic with your price and make sure your home is in top condition.  There is more inventory for buyer's to chose from now so the little details make all the difference.

That's it for this week!  Have a great weekend!