Dawn & Lawrence Setter

It's been awhile since we last wrote and as always we hope this newsletter finds you and your family well.

The above title pretty much says it all when it comes to what's happening in our local market in regards to prices. 11 months has now passed with little or no change to the average cost of buying a home. Some pockets of the market are experiencing a very slight increase although, it's still very much a Buyer's market. This despite an improving provincial economy. Higher mortgage rates and tighter credit conditions for low-equity home buyers and investors will squeeze some prospective buyers out of the market this spring, which will continue to keep the balance of the buyers in drivers seat. Interest rates had to go up in order to keep the market from taking off and having a bigger burst in the bubble than we experienced during the fall of 2008 and the beginning of 2009. The multiple offers we read and hear about are geographical, which is why we had hoped CMHC would have implemented tighter credit conditions in those markets that are doing better than rest. 

The good news is, if you take a look at our local stats, you'll see  the activity, for single family home sales, is way up.  The next page breaks the market information into detail, it shows that 48% of the single family homes on the market are selling. Certainly better than the 33% a year ago. It's not a Seller's market until this number gets into the high 60's low 70's. The only part of the market that isn't doing as well, is the apartment style condo's.  Only 18% of those listed are selling compared to the 13% last year for the month of March. 

How's it going in our world you ask? We're doing phenomenal! We've surpassed our first 1/4 of last year by leaps and bounds and I expect our area to stay active, regardless of what the news is telling you. 
 
A reminder since our last newsletter we've implemented some added features. New links to items we feel will be of value to you. Like knowing the real truth today's real estate market, our market statistics, among a few other interesting bits of information.  The best part is the Business Directory. It's constantly under construction so be sure to check it out often. The folks listed in this directory are people we have worked with and believe do a great job. We just want to make sure you know who they are too. If you have a business and would like to be included give us a shout, we'll be happy to get you connected.

We of course are never too busy to serve you in any way we can. If you have a question you would like answered personally, be sure to give us a shout.