Oakville & Burlington Real Estate Blog - Dan Cooper » Real Estate Market

Royal LePage predicts homes will continue to appreciate despite recent talk of decline

Dan Cooper — Wed, 18 Jan 2012 22:01:00 +0000

The average price of a home in Canada increased between 3.6 and 6.1 percent in the fourth quarter of 2011, compared to the previous year, according to the latest Royal LePage House Price Survey and Market Survey Forecast. Royal LePage expects average price growth to continue through 2012 and predicts national average prices to increase by 2.8 percent by the end of the year.

I stated in my column last week that low interest rates and a relatively stable economy encouraged more buyers to take part in the real estate market in 2011, making it a strong year. In fact, it was Toronto’s second best year on record. This was despite calls in some quarters for Canadian house prices to soften in 2011. The strong recovery in the real estate market is likely to continue, according to Royal LePage. Recent high profile reports forecasting significant house price declines this year are not supportable. The consumer confidence in the housing market that was displayed in the last quarter of 2011 is expected to carry through 2012, according to the Royal LePage report.

This is how Royal LePage President and CEO Phil Soper explains the company’s latest survey: “In the recovery period following the 2008-2009 recession, I found myself repeatedly speaking of ‘irrational exuberance’ in the Canadian housing market. Expectations were too high and the pace of expansion unsupportable. With this report, I find myself in exactly the opposite position. Widespread calls for a major real estate correction in 2012 simply can’t be justified. The industry has significant momentum entering the year, and buoyed by the stimulative effect of very low interest rates, we expect the market to continue to expand – albeit at a slower pace.”

While 2011 was a very strong year for price growth, Canada’s average home prices have grown by only 3.5 percent compounded annually over the past five years. This is well below the long-term average rate of appreciation. Canada’s GDP has also grown modestly over the same period and the economy is expected to expand by approximately two percent in 2012. Although unemployment remains stubbornly higher than pre-recession levels, sustained employment at today’s levels in a low interest rate environment can be expected to support continued average house price appreciation across the country.

”We believe calls for falling prices and more affordable housing in 2012 are unlikely to materialize,” said Soper. “While this will comfort the 70 percent of Canadians who are homeowners, there is cause for concern when house price growth outpaces increases in wages and salaries for an extended period of time. Coupled with more restrictive mortgage regulations that have made it more difficult to obtain financing, those who aspire to own a home may find it increasingly difficult to enter the housing market and, in some regions, it may leave people out entirely.”

Lack of inventory in Toronto produced strong year-over-year price appreciation in 2011. Average price gains ranged from 3.4 to 7.2 percent for the housing types surveyed. Migration and low interest rates also continue to drive real estate prices. At the end of 2012, average house prices in Toronto are forecast to increase 2.6 percent over 2011.

In last week’s column, I said I would have the Oakville housing statistics for 2011, but they had yet to be released at the time this column was being written. They should be out this week, so watch for next week’s column for a review of Oakville’s real estate performance for 2011.

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, 2007, 2005, 2002, 2001, 2000 and 1999. 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.

Stability is the watchword in real estate in 2012

Dan Cooper — Thu, 05 Jan 2012 21:35:21 +0000

I want to wish everyone a happy and prosperous New Year. As we enter 2012, all the signs point to a stable and balanced economy – which in turn creates a good climate for real estate transactions.

Across Canada, the real estate market was balanced in 2011 with housing prices growing more or less in line with the rate of inflation.

Oakville, which has always been one of the hottest markets in the country, surpassed the national trend for sales and price increases. The latest available statistics take us to the end of November and show that the number of residential sales was up 8 percent in 2011 over 2010 and the average price had increased by 8.5 percent – $609,034 in 2011 from $561,769 in 2010.

In Burlington, sales were on par with the national trend, but the average sale price increased by a whopping 13.8 percent – $421,008 in 2011 from $369,874 in 2010.

And we can expect the same pace of growth in 2012 according to the Canadian Mortgage and Housing Corporation. The key will be continued low interest rates. Rates had been expected to rise in 2011, leading to a slowdown in the housing market. But that didn’t happen.

In 2012, a looming economic slowdown, record consumer debt and weak wage growth could put a downward pressure on the market. But these will also encourage the Bank of Canada to leave interest rates on hold – and that’s good news for homebuyers. It’s also good news for sellers since the lower rates will encourage more buyers into the marketplace.

While uncertainty about the global economy and our own recovery will continue to mess a bit with our psyche, the fact that we will see some stability, that there will still be some growth in the economy and the job market, bodes well for the real estate scene over the next 12 months.

Whether you are buying or selling a home, choose a broker who understands the market, who is knowledgeable about the community and has the resources and staff to provide you with superior service 24/7.

From the entire Dan Cooper Team, I would like to wish you and your families all the best for 2012.

Looking for a strong finish in home sales for 2011

Dan Cooper — Mon, 12 Dec 2011 22:09:08 +0000

October and November were two of the strongest months for The Dan Cooper Team as we bucked the trend for the Oakville and Milton areas, and remained on track with what was happening in Burlington and the GTA.

There was a cooling in sales in the Oakville area in November, according to the Oakville, Milton and District Real Estate Board (OMDREB), but Hamilton/Burlington and Toronto enjoyed increases in listings, sales and average sale price.

“The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” says Toronto Real Estate Board President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.”

The average price in the GTA for November transactions was $480,421, representing an increase of almost 10 percent in comparison to $437,494 in November 2010.

In the Hamilton and Burlington areas, average prices rose 7.8 percent for homes and 6.1 percent for condominiums. This was for all transactions under the Realtors Association of Hamilton-Burlington, which takes in Glanbrook, Dunnville and Caledonia. Burlington on its own witnessed a 13.8 percent increase in the average sale price last month – $421,008 in November compared to $369,874 the same month last year.

So what happened in Oakville/Milton? The OMDREB says this is a traditional slowdown as consumers busy themselves preparing for the holiday season. It says overall sales in November compared with the same month last year were down 5.9 percent. Oakville, however, saw a 5.5 percent increase in sales, but experienced an almost static position in the average sale price. The average price in November was $588,557 compared with $589,354 in November 2010.

“While we are experiencing the traditional drop in sales that occurs during the winter months, we remain on track for a strong finish in 2011,” says OMDREB President Jack McCrudden. “As long as interest rates remain at their current historic lows, demand for housing in the Oakville/Milton market will remain strong.”

The key to selling your home is to choose an experienced realtor who will market your home effectively. Innovative advertising, knowledge about the marketplace, commitment and exemplary service differentiate The Dan Cooper Team. The result is that we are achieving accomplishments that illustrate the Dan Cooper difference. We have been the Number 1 team in Canada for Royal LePage for seven of the past 11 years, which is a testament to our ability to sell homes quickly and for the best possible price in the Oakville and Burlington areas.

Housing market to remain strong to year end

Dan Cooper — Wed, 19 Oct 2011 18:00:21 +0000

The resale housing market continues to show strong gains as we enter fall. And if low mortgage rates continue, we’re looking forward to a vibrant market through to the end of the year.

Record low mortgage rates remain the most significant factor in buyers’ housing purchase decisions, according to Jack McCrudden, president of the Oakville, Milton and District Real Estate Board. “Even though recent Statistics Canada figures indicate a decline in consumer confidence across the country, homebuyers in this area are still influenced by record low mortgage rates and increased choice in the housing market.”

Similar opinions are being expressed in the Hamilton/Burlington area and Greater Toronto.
Ann Forbes, president of the Realtors Association of Hamilton-Burlington, says, “We are heading into the fall market with positive reports on the market. In general, we are seeing better-than-average results across the board when we look at last year and the 10-year average.”

And in Toronto, Jason Mercer, senior manager of market analysis for the Toronto Real Estate Board, says, “Strong price growth through the first nine months of the year was mitigated to a great deal by low interest rates and rising incomes. As buyers continue to take advantage of the affordable home ownership options in the GTA, we remain on pace for the second best year for sales under the current TREB market area.”

What are we talking about exactly?

In Oakville, sales were up by 3.5 percent and the average selling price increased five percent in September compared to the same month last year. Year-to-date, the average sale price is up by 8.5 percent to $608,301 from $561,197 this time last year.

The biggest gains were witnessed in Milton, recognized as one of the fastest growing communities in Canada, where the number of sales increased by 39 percent and the average price jumped by 16 percent last month compared to September 2010.

In Hamilton and Burlington, the condominium market saw the largest gain with a 13.9 percent increase in the number of sales when compared with September last year. Prices, however, dipped slightly (less than one percent) last month. The area covered by RAHB includes Grimsby, Dunnville and Caledonia. Burlington alone saw the number of sales increase by 11.4 percent, but experienced a drop in pricing by 3.8 percent in September compared to September 2010.

Sales in Greater Toronto were up 25 percent and the average selling price for detached, townhouse and condos were all up about nine percent in September compared to the same month last year. In fact, over recent months the number of listings has improved so the Toronto board expects homebuyers will have more to choose from in the months ahead.

McCrudden appears to sum up the current climate with these comments, “If low mortgage rates continue, we’re looking forward to a strong market through to year end.”

Whether you are buying or selling, it is important to work with a broker who is familiar with the area, has a professional team, strong marketing initiatives and a proven track record for providing results. At The Dan Cooper Team, we are available for our clients 24/7, we have an innovative and effective marketing program and we are selling homes for top dollar – fast. For more information or a free home evaluation, call the Dan Cooper office.

Summer approaches hot autumn for real estate

Dan Cooper — Fri, 16 Sep 2011 20:16:06 +0000

It was a hot summer, both in temperatures and real estate. And the strong market shows no signs of slowing down as we enter the fall. The volume of sales and house prices in the Oakville area last month were in double digits. The story was similar in Burlington and the rest of the GTA.

“It is generally expected that mortgage rates will remain low into 2012, making it a good time for first-time buyers to enter the market,” says Jack McCrudden, president of the Oakville, Milton and District Real Estate Board. “Going into the fall, the increase in new listings will provide both new and move-up buyers with more choice, and these two factors point to a strong stable market over the next few months.”

This is what he is talking about. Area existing home sales increased by 10.3 percent last month over August last year and the total value of all sales in August showed a 21.4 percent gain. In Oakville, the average sale price increased by 16.5 percent in August over the same month a year ago. The average price this year was $613,408 compared with $526,451 in August 2010. So far, for the year, prices have increased by nine percent overall compared to the first eight months of 2010.

The Burlington and Hamilton market experienced increases in listings, sales and average sale price for the third straight month. The number of homes listed in August increased by 24.1 percent, sales were up 12.5 percent and the average house price gained four percentage points over August 2010. In the condominium market, the average sale price was 2.5 percent higher over the same month last year.
Bear in mind that the statistics coming out of the Realtors Association of Hamilton-Burlington include communities such as Caledonia and Dunnville in addition to Greater Hamilton. When it comes to Burlington, I believe the stats would closer match those of Oakville than Hamilton. I’m very familiar with the Burlington market and what I am seeing are increases that are in line with what’s happening in Oakville.

As we see the market continuing to rebound, I have to emphasize how important it is to select an effective broker; someone who will ensure you sell your home for the best price possible. Are they using the best print options, how effectively are they using the internet, how often is your listing going to be profiled, are they utilizing new technology such as QR codes? The Dan Cooper Team is proud to being doing all of this and more.

Innovative marketing initiatives and investment, knowledge about the marketplace, commitment and exemplary service differentiate The Dan Cooper Team. The result is that we are achieving accomplishments that illustrate the Dan Cooper difference.

Our track record speaks for itself – top team in Canada for Royal LePage in seven of the past 11 years. It’s an accomplishment we are proud of and one that our clients have appreciated when we sold their homes quickly and for top dollar.

How much does weather affect the real estate market?

Dan Cooper — Fri, 16 Sep 2011 20:00:14 +0000

An unusually snowy winter, a prolonged rainy spring or a blistering hot summer – such as the heat wave in Ontario earlier this summer – can have a significant near-term impact on home sales, according to a recent national survey by Royal LePage Real Estate Services Ltd.

If a region is experiencing a heat wave or an unusually long winter, sellers may be more reluctant to list their homes and buyers may be less willing to get out into the market to look for a property.

“With all the different factors that affect the housing market, weather can often be over-looked. Severe weather, be it extreme heat, wet or cold, can prolong or delay seasonal sales cycles by weeks or even months,” says Phil Soper, chief executive officer of Royal LePage Real Estate Services Ltd. “The findings indicate that harsh weather may impact the number of homes bought and sold during a particular trading period. While this doesn’t speak directly to housing prices, a short-term drop in demand can impact local home values for a period of time. There is no evidence, however, that weather events change home prices over the longer term.”

If you want to sell your home during seasons when the climate is unpredictable, there are strategies to beat the weather. When listing a home in the hot summer months, invest in air conditioning or other solutions to cool off a home during open houses. Watering your lawn and gardens will maintain that all-important curb appeal – after all, first impressions are critical.

In the depth of winter, heating your home to a cozy temperature is most important, as is ensuring your property is accessible with roadways cleared of snow. If potential buyers can’t navigate the driveway or paths, their mood is predetermined even before they enter your home.

“People love to talk about the weather and the real estate market. While it is interesting that the former can impact the later, variables such as interest rates and employment levels are more important in determining the trajectory of our housing industry,” Soper concludes.

As we enjoy nice weather going into fall, low interest rates and a quiet consumer confidence, now is a good time to consider selling. When choosing a real estate agent, choose a broker who is knowledgeable about the area, has an innovative marketing program and has a proven track record for getting results. When deciding who to list with, visiting a broker’s website and checking the testimonials from other clients will provide a good starting point.

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, 2007, 2005, 2002, 2001, 2000 and 1999. 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.

Looking ahead during economic uncertainty

Dan Cooper — Tue, 16 Aug 2011 20:22:22 +0000

These past couple of weeks have been one of the worst for financial markets in quite some time. Stock market indexes around the world suffered their largest one-day losses in years, further extending losses that began back in the spring.

The economic uncertainty both in the U.S. and Europe and the decision by S&P to downgrade the U.S. credit rating have been the driving force behind all this financial distress. The rational perspective is that while the S&P decision is unprecedented for America, the downgrade changes absolutely nothing. It is simply a confirmation of market concerns about the fiscal situation. The most important point is that even with a lower credit rating, the U.S. government is still solvent. Investors in U.S. Treasuries will still get paid the interest they are owed and they will get the principal back upon maturity of the bonds.

So what does this all mean for Canada? For many months now, TD Economics has expected a rotation between drivers of growth in the Canadian economy, from consumer and government spending to exports. What recent developments imply is that that rotation may take longer than originally anticipated. The U.S. and European economies remain the destination of more than 80 percent of Canadian exports. Though the sector will likely get some offset due to the weaker loonie, continued weakness in those markets would imply that we may not be able to depend on the export sector to the same degree that we had expected, and more focus must remain on domestic drivers of growth – specifically, business investment and consumer spending.

On the plus side, TD Economics says that the latest job report indicates there remains strength in those domestic factors. The private sector added almost 95,000 new jobs to the Canadian economy, many of them full-time positions. Despite this robust job creation, however, household debt remains at record levels and the eventual rise in interest rates will force households to allocate an increasing share of income on servicing debt. As a result, consumer spending will be negatively impacted going forward, and without the boost from the export sector, real GDP growth will likely suffer in the quarters ahead, TD economists believe.

The Bank of Canada will be wary of raising rates too far ahead of the U.S. Federal Reserve. With the U.S. a long way off from reaching full capacity and a considerable amount of excess slack to still exist in 2013, the Federal Reserve is likely to keep monetary policy highly accommodative through 2011 and 2012. Currently, the Bank of Canada overnight rate is 75 basis points higher than the U.S. Fed Funds rate. If interest-rate spreads are further widened significantly, the Canadian dollar will experience further upward buying pressure, which the Canadian central bank would likely deem undesirable, since it would put the export recovery at risk.

With Canada’s inflation trends behaving well, the Bank of Canada will not likely move off the sidelines until January 2012, at which point it would hike rates in quarter point increments to achieve an overnight rate of two percent by May of next year. After a pause in the second half of 2012, we look for the overnight rate to rise to three percent in 2013.

Despite all this economic volatility, real estate continues to be a reliable investment, especially in areas of high demand such as Oakville and Burlington where house prices steadily increase year after year. Whether you are buying or selling, it is critical to seek help from a professional who knows the area and has the skills to negotiate the best price on your behalf.

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.

Does growing sales volume mean the housing market is heating up?

Dan Cooper — Mon, 11 Jul 2011 14:47:42 +0000

We are now at the halfway mark for the year and the housing market has been quite interesting to say the least. After a slow start in the first few months, the market appears to be steadily improving with the volume of sales making double-digit gains.

The number of homes sold in Oakville increased by 16.8 percent in June. This followed an 11-percent increase in May and heralds a strong market for resale homes, according to the Oakville Milton and District Real Estate Board. “Sales have increased for the second month in a row,” says Jack McCrudden, President of the real estate board. “At the same time, prices are moderating, encouraging more buyers into the market.”

Meanwhile, the number of new listings, those homes being put on the market, is relatively consistent. So we have the number of homes being sold outpacing the number of homes being listed. McCrudden, however, says there is still room for sellers wanting to attract interested buyers. “If interest rates stay as they are, the Oakville, Milton area can anticipate a healthy market over the next few months, with opportunities for both buyers and sellers.”

That’s certainly good news for anyone wanting to sell their home, but also signals the importance of selecting a broker who truly knows the market and is able to market your home effectively. Carefully check the broker’s credentials – how long have they been established in this market, how are they marketing their homes, how efficient are they, and what are their results?

What’s happening with prices? In Oakville, the average price of a home dropped 3.5 percent to $599,504 in June compared with June last year. In Milton, the average price increased three percent.

For the first six months of the year, however, the average price in Oakville increased by seven percent, and in Milton it increased by four percent.

The statistics for Burlington had not been released as I was writing this column, but Burlington has typically been on par with Oakville, so I suspect the story is much the same there.

For Greater Toronto, home sales were up a whopping 21 percent in June compared with June 2010. This number represents the third best June on record – behind 2007 and 2009. “This strong June result capped off an interesting first half of 2011,” says Toronto Real Estate Board President Richard Silver. “The pace of sales was a bit sluggish at the beginning of the year, but rebounded in May and June. Because of the positive affordability picture, homebuyers remained confident in their ability to purchase and pay for a home over the long term.”

The average price for June transactions in Greater Toronto showed a 9.5 percent increase.
As we see the market continuing to rebound, I have to emphasize how important it is to select an effective broker; someone who will ensure you sell your home for the best price possible. Are they using the best print options, how effectively are they using the internet, on what websites and how often is your listing going to be profiled, are they utilizing new technology such as QR codes? The Dan Cooper Team is proud to being doing all of this and more. Our track record speaks for itself – top team in Canada for Royal LePage in seven of the past 10 years. It’s an accomplishment we are proud of and one that our clients have appreciated when we sold their homes quickly and for top dollar.

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.

Be prepared for a hot spring in the local real estate market

Dan Cooper — Thu, 21 Apr 2011 16:48:30 +0000

Spring is traditionally a strong season for real estate. It’s a time of the year when nature begins anew, putting us in the mood for a new beginning as well. And from all accounts, this spring appears to put us back on track after a long recession.

A number of surveys and real estate board reports are indicating that we can expect everything from a balanced market to a robust season – depending on where you live. This area will be on the robust side. The Oakville and Burlington markets have consistently been among the strongest in Canada when we measure our performance against the country’s leading communities.

According to the most recent Royal LePage House Price Survey, the best performing major markets in the first three months of this year are Vancouver where the price of a standard two-storey home rose by 9.7 percent and Montreal where detached bungalows rose by 6.3 percent.

The average house price in Oakville rose 8 percent over the same period – again placing this market as one of the best places in which to invest in real estate. “As we move into spring, which traditionally is a good time for buying and selling homes, I think we’ll see a slight upward trend in sales,” says Jack McCrudden, President of the Oakville Milton and District Real Estate Board. “In fact, sales have been increasing month over month for the past three months. All things being equal, it should be a good spring for buyers and sellers.”

The average sale price for March in Oakville increased 6 percent over March last year to $572,909. In Milton, the average sale price in March was $409,207, an increase of 7 percent. Over the first three months of the year, Oakville increased by 8 percent to $609,744 and Milton by 3 percent to $396,989.

In Burlington and Hamilton, the Realtors Association is saying this year will be a return to a normal year. Sales activity was down for the first three months, but the average sale price increased by 3.5 percent, which followed the national average.

“The spring market is proving to be what we would call a normal, more balanced market,” says Ann Forbes, President of the Realtors Association of Hamilton-Burlington (RAHB). “In this kind of market, we will see a good number of properties coming on the market and a good number of sales going through. There is time for buyers to shop and compare before they buy.”

Mind you, their figures take in the entire area that RAHB covers, which includes 15 cities and towns from Burlington to Dunnville. I would have to think that some of those communities will be dragging these figures down and that Burlington’s performance is not being reflected.

When you consider that Burlington recently placed third in the 2011 Best Places to Live in Canada survey conducted by Money Sense magazine, the desire to live in such a community is going to be high – and that drives up prices.

Across the country, low interest rates and a recovering economy continued to fuel activity over the past year. “Canada’s real estate market has maintained momentum coming out of 2010, indicating the post-recession recovery is continuing,” says Phil Soper, President and Chief Executive of Royal LePage Real Estate Services. He cautions that while prices will continue to creep up, most of the excess demand created by the initial drop in interest rates has been satisfied and that single digit percentage increases are more likely for the balance of the year.

That might be true on a national scale, but hot markets such as Oakville and Burlington continue to buck the trend and we will likely experience strong performances through the year.

Housing sales volumes are still sluggish but prices are up

Dan Cooper — Sat, 12 Mar 2011 04:32:13 +0000

The latest housing stats coming out of Oakville, Burlington and the rest of the GTA are showing a continuing trend – sales volumes are down but prices are up. This is something I’ve addressed in earlier columns. In one respect the market is soft when it comes to activity, but homes are holding their value which proves that real estate is always a good investment. Let’s look at some of the latest statistics across the board.

In Oakville the number of homes that sold was down a whopping 21 percent in February compared to February 2010. Putting that into perspective is Jack McCrudden, President of the Oakville, Miton and District Real Estate Board. “Area sales have declined compared to last year when the resale housing market was driven by concerns over interest rates, the impact of the HST and potential changes to mortgage rules,” he said.

The rush to purchase homes before the HST came into effect last July created a buying boom. Yet, prices in Oakville last month were 12 percent higher than February 2010. The average home price last month was $645,904 compared to $577,628 last year. In Milton, sales volume matched last year’s volume and prices were up one percent, $385,002 compared to $382,396.
Hamilton and Burlington displayed the same pattern with sales down by 8.7 percent but prices up by 3.7 percent compared to February last year.

“While the numbers show that our sales and listings are down from last year, you have to remember that February of 2010 was the beginning of the recovery from the uncertain market in the early part of 2009,” according to Ann Forbes, President of the Realtors Association of Hamilton-Burlington. “Our average sales price continues to climb, year after year. Buying a property in the Greater Hamilton, Burlington and outlying areas is a good investment.”

Across the GTA, sales were down 14 percent but prices were up by five percent, says Toronto Real Estate Board President Bill Johnston. “Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong.”

What’s interesting is that last month’s sales may have been 14 percent lower than last year, but were 50 percent higher than sales in February 2009 (during the recession) and slightly higher than the average February sales volume over the previous 10 years. Jason Mercer, the board’s senior manager of market analysis, further said that market conditions remain tight in the GTA. There is enough competition between homebuyers to promote continued price growth.”

The key to selling your home is to choose an experienced realtor who will market your home effectively. Innovative advertising, knowledge about the marketplace, commitment and exemplary service differentiate The Dan Cooper Team. The result is that we are achieving accomplishments that illustrate the Dan Cooper difference. In fact, we have been the Number 1 team in Canada for Royal LePage for seven of the past 10 years, which is a testament to our ability to sell homes fast in the Oakville and Burlington areas.