Canada’s residential real estate market will start to slow in the second half of 2010 after two quarters of strong price increases and sales activity, according to the most recent Royal LePage House Price Survey and Market Survey Forecast. While sales activity was strong in the first half of the year, it is expected to cool off for the third and fourth quarters with prices flattening.

This is how Phil Soper, President and CEO of Royal LePage Real Estate Services Ltd., Brokerage, explains the situation: “We have seen an unusual pattern of activity in the housing market over the past 12 months, with the market experiencing a surge of activity and price increases that peaked in the fall of 2009 rather than spring. Early 2010 followed a more typical seasonal pattern with prices and activity peaking in the second quarter. An expected increase in the supply of homes on the market will now bring stabilization in prices and in some cities we will see both prices and unit sales decline towards the end of the year. This should not be interpreted as a severe correction but rather a natural reaction to the market having peaked quite early this year.”

The surge of activity in the first half of 2010 in Ontario was prompted by a number of factors, including an increase in interest rates in the spring, tightening of mortgage lending rules for first-time homebuyers and investors, and the lead up to the introduction of the HST. In June, residential resales in Oakville were down by 34 per cent compared with June 2009, but on a positive note for sellers, the average price showed a healthy increase of 19 per cent – $616,907 compared with $516,681 in 2009. And the luxury market continued to heat up recording 28 sales over $1 million, with six of those sales surpassing $2 million in June.

The Burlington area resale market reported a decrease of 15 percent from the same month last year, and a decrease of 6 percent from May of this year. The total unit sales for the first six months of 2010 are being reported at 18.7 percent higher than the same period last year, while new units listed are 20.7 percent higher than last year at this time, according to the Realtors Association of Hamilton-Burlington. A slower market brings increased inventory levels and fewer bidding wars, which creates opportunities for buyers who may not have been able to find what they wanted in the spring.

The key, especially during a slow market, is to deal with a broker who has a proven track record and is a consistent top performer – someone who you are confident will be able to sell your home quickly and for top dollar. Innovative marketing initiatives and investment, knowledge about the marketplace, commitment and exemplary service differentiate the Dan Cooper Real Estate Team. The result is that we are achieving accomplishments that illustrate the Dan Cooper difference. We are the Number 1 team in Canada for Royal LePage, which is a testament to our ability to sell homes fast in the Oakville and Burlington areas. In fact, we have been the Number 1 team for seven of the past 10 years. This is an accomplishment that does not happen by accident, but rather by design. Our dedication and commitment to selling your home, along with superior marketing strategies, have time and time again helped our clients sell their homes quickly and for top dollar.

We were also named Best Real Estate Agent and Best Real Estate Team in North Oakville Today’s annual Readers’ Choice Awards. The Readers’ Choice Awards are as grassroots as you can get, and being named Number 1 for both agent and team are proof that we are having a significant impact right here in our own community.

Dan Cooper is an award winning Broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call the Dan Cooper Team.