The most common question I am asked is, “How’s the real estate market?”. Given the present state of the economy this is a very valid question. For most of us, our home is our greatest investment.
House sales in Cambridge were up in May 2009 compared with the same month last year. According to Real Estate Board of Cambridge statistics, 290 homes sold in May compared with 261 a year ago. This represents an 11% increase.
Most sales occurred in the $260,000 - $349,999 range but the number of sales also increased in most other price ranges. May is the first month in 2009 in which a home sold for $1000, 000 or more. Two homes sold in this category.
The total number of listings available decreased by 17% in May 2009 compared to a year earlier.
These statistics indicate a very strong market. With fewer listings available, it’s a great time to sell your home and make that next move. Historically low interest rates make this an excellent time to buy.
Contact me at jim@jimdanson.com if you would like an opinion of value for your home, or if you would like more detailed statistics on real estate in Cambridge, Ontario.