With 2009 being a global recession and the US seeing record breaking power of sales and foreclosures it was a surprisingly strong year for home sales in Ontario. The beginning of the year was quite sluggish but when consumer confidence grew in the 2nd quarter, the real estate market was the first place to show signs of recovery.
January 2009 was one of the worst months for home sales in 20 years. In December the overall feeling was that we have rebounded. Many of us worked on Christmas Eve. The overall trend for 2009 was decreasing inventory, prices rebounding and sales increasing.
Homes in the lower mid-range are selling quite quickly. The lack of inventory at this time of year is usual and leads to some homes selling for more than asking. There are buyers out there looking and reading to buy a new home. Many of these buyers are willing to pay top dollar to get them. If you are considering selling your home in the spring, you might want to re-consider, now is a great time to list.