Here’s a market update from our friends at Macdonald Realty; Simon Clayton, Kristie Marsden, Jason Low, Sandra Ens, Jason Feinstadt and Jenny Stephanson.

Last month, we described how, traditionally, the winter months led to a slow-down in the industry and how you could best take advantage of your specific situation. We had one caveat: every situation is different.

Well, it seems as though 2009 may be different.

Sales in October were up 41.5% year-over-year across Canada as low interest rates and greater consumer confidence spurned higher home sales. Prices across Canada have also increased year-over-year to an average of $341,079, up 20.7% from a year ago.

When the financial crisis hit, home-buying effectively froze as buyers sat on the fence waiting to see what would happen. Now that it seems the worst is over, six months of pent-up demand has been unleashed on the market. Given low interest rates, relatively high absorption rates, and, in some areas, increased overseas activity, we expect the market to remain strong – on a seasonally-adjusted basis – for the short-term.

That said, no matter how hot the market is, you’re still unlikely to find a buyer on Christmas Day.

Have a wonderful Holiday Season!

December 2009 Market Update

If you would like to learn more, please feel free to contact us by phone or by clicking on one of the links below:

Simon Clayton 604-764-0711

Kristie Marsden 778-836-4389

Jason Low 604-790-5276

Sandra Ens 604-263-1911

Jenny Stephanson 604-675-6214

Jason Feinstadt 604-263-1911

MacDonald Realty 604-263-1911

This entry was posted on Friday, December 4th, 2009 at 2:08 pm and is filed under General Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.