2009 Market Wrap Up

This past year has been quite the roller coaster ride in real erstate. The market had started to slow down in the fall and winter of 2008 and into 2009 sales and prices continued to be depressed. These type of lower home prices, decreased number of sales and longer days on the market has not been witnessed since the mid 1990’s


In 2009, January and February showed an average 40%-50% decrease in number of sales and an average 9.3% price drop, homes were also selling in an average of 50 days on the market.


By the spring, the market began to pick up in March and April and became more promising.  The number of sales increased, however homes were still selling about 9.5% less then in the spring of 2008.


Activity really started to elevate in May and June with a May sales record of close to 10,000 homes sold breaking the 2008 top month’s sales record. June was even more impressive with almost 1,500 more sales than May setting a new sales record for 2009. Sales prices we more balanced with a slight increase of 0.7% for the same time last year with an average of just less than 40 days on the market.


In the summer of 2009,  homes kept selling at a rate approximately 29% higher then 2008 and with an increase in price of 6.2% and a impressive only 30 days average on market.



The fall of 2009 boasted sales of 53% more than in 2008 with an average price increase of 15% around this time last year. Also with just over 20 days on market which is very impressive since it was taking twice as long to sell a home in the fall of 2008.


November was also much improved over last year with average price increases of 9% versus 2008 an  average of only 20 days on the market.



December 2009 was even more impressive with over double the sales of last December and in W19 which is our district of North West Mississauga, homes were selling very quickly and for an average of 24% more than this time in 2008.


January 2010 appears to turn into another record breaking month with historically low interest rates and low inventory of homes and many buyers out there looking to purchase in the next few weeks.

I believe we will be doubling the sales again from January 2008 and I am estimating a 15%-25% increase in sales price from this time in 2009.


In my professional opinion,  if you have a home you are thinking of selling in this market will bring you top dollar for your home and if it shows well have it sold in a record time. Please contact me if you have any questions about the market or if you are interested in listing or purchasing a home in the next few months.