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According to Gregory Klump, Chief Economist for CREA, the Canadian Real Estate Board, sales activity have continued to set new monthly records in July, August, September, and October.  CREA now forecast that the national activity will reach 460,200 units up 6.6% from last year and new sales forecast in 2009 puts activity about on par with annual activity in 2004 but below levels between 2005 and 2007.

As of November, Ontario has seen record level activity.  The forecast for sales is that it wil rise 7% to 492,300  units in 2010. The raised outlook for MLS sales activity for 2010 puts annual activity 5.5% below the pre-recession peak recorded for 2007, but slightly above figures for 2005 & 2006.

The forecast increase in activity for 2010 reflects significant weakness in activity recorded in the first quarter in 2009. Monthly activity in 2010 is expected to trend downward from recent heights but the sharp drop in activity recorded in the first quarter of 2009 is not expected to repeat in 2010.

Always a reminder, if you aren’t sold, then you are not price properly.   Your home should be sold in the first 2 weeks or 2 weeks after a price reduction has been made.   The current average days on market for the last month is 52 days and for the past year it has been 53 days.  Homes continue to sell daily, make your home the next one sold.  

Call us to get a free market evaluation on your home and to get SOLD!