After a couple of years of unprecedented volatility, the housing market across Canada seems to be returning to normal.
That’s the good news reported by the CBC last Wednesday, which pointed to newly minted statistics released by the Canadian Real Estate Association. According to the numbers:
- In November, the national average price for a home in Canada was $344,268; an increase of 2% over the same period in 2009
- The seasonally-adjusted volume of home resales climbed 4.8% in October and November – the fourth consecutive monthly increase in a row.
- Seasonally adjusted sales in November climbed 19.5% over the year’s lowest point in July.
- November sales in 2010 are closing in on the average levels for the past 4 November’s (2006 – 2009)
- Gains were reported in 8 of the country’s 10 most active urban real estate markets, including Edmonton. Other gainers included: Calgary, the Fraser Valley, Vancouver, London and St. Thomas, Ont., Montreal, Ottawa and Toronto.
Good News for Sellers
The boost in prices and overall resale volumes is good news for sellers, who can now take advantage of the stable and growing demand for homes.
“With sales activity having returned to better health and a firm floor under prices, sellers who previously shied away from putting their home on the market are expected to list their home in response to improved housing demand in recent months." Gregory Klump, chief economist of the Canadian Real Estate Association told CBC News.
Selling your Home? I’m Here to Help!
Selling your home in a strong market requires different strategies and tactics than selling in a soft or declining market. It’s more than just pricing strategies. It’s also about ensuring that your home stands out – because there’s more competition – and staging it so that you make the best possible impression, and take steps towards a smooth, stress-free and financially satisfying transaction.
So whether you’re planning to sell your home now, or it’s something that might be on your financial “radar screen” as you move to take advantage of the stronger market, call me at 780-709-0811. I have in-depth experience helping sellers, and would be delighted to help you and your family on this journey.Posted by Chris Proctor on