2009 IN REVIEW 2009 has come to an end in much better style than did 2008. For all you home owners who worried that they lost money on their houses over 2008, well worry no longer. 2009 gave us back what we lost and much much more. | | 2009 Avg. Price | 2008 Avg. Price | Percent Change | | Detached | 445000 | 379000 | 19.1 | | Semi | 359000 | 323000 | 17.8 | | Condo Town | 268500 | 245250 | 16.76 | | Condo Apt. | 270000 | 226000 | 23.7 | | Link | 357000 | 266500 | 24.3 | | Att/Row/Town | 331000 | 296000 | 17.22 | | Co-op | 199000 | 209950 | 8.79 | | Detached condo | 334500 | 324000 | 3.27 |
Detached houses lost 7.34 percent between 2007 and 2008 but gained 19.1% between 2008 and 2009 and condos which had lost 6.22 percent in 2008 gained 17.8 percent in 2009. The market continues to remain strong even in January, with many buyers who did not secure their new homes last year due to the lack of inventory still looking to buy. If you are thinking of selling I would strongly recommend you do so BEFORE the market is solidly into Spring, when all those houses which did not list last year due to concerns over the recession will be selling this year now that the recession is officially over. Confidence is increasing and Canadians are realizing that the United States real estate market is not our market. We do not engage in predatory mortgage lending as the States did for years and this has kept the value of our homes at where they should be. I hope you all had a great holiday season and please remember, I am always grateful for your referrals. Sincerely, Michelle Powell, Exit Realty Prestige 416-708-0556 |