"We are seeing the effect of consumer concerns about the national and international economy reflected in the Ottawa market, but the fact that the average sale price is fairly stable shows the underlying confidence in the local marketplace," said 2009 Board President Rick Snell.

"Ottawa remains a relatively stable resale housing market, buffered by a strong job market and a stable economy, but will of course be affected by the ongoing economic climate in the rest of Canada. Real estate is local, and Ottawa is still in fairly good shape compared to many areas of the country," Snell added.

The average price of residential properties, including condominiums, sold in December in the Ottawa area was $272,192, a marginal decline of 1.2% over December 2007.

GTA - 2,500 Sales in December, 74,000 in 2008

(Toronto - January 9, 2009) TREB Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O'Neill announced today. "Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006."

The average price in December 2008 came in at $361,415, compared to $394,931 last year, and $336,217 in December 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and $351,941 recorded in 2006.

The City of Toronto (416) recorded 1,105 sales in December 2008, compared to 2,302 in December 2007 and 1,827 in December 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006.
The average price in the city was $387,482 compared to the $425,842 recorded in December 2007 and the $350,139 recorded in December 2006. For all of 2008 the average price was $410,271. In 2007 the comparable figure was $412,480, and in 2006 $378,776.

The 905 area saw 1,472 sales in December 2008, from 2,344 in December 2007 and 2,620 in December 2006. For all of 2008, there were 44,674 sales in this region, versus 54,141 in 2007 and 48,680 in 2006.
The average price in the 905 area was $341,847 in December 2008, compared to $360,307 in 2007 and $326,509 in 2006. For all of 2008, the average price was $358,665, as compared to $350,092 in 2007 and $332,976 in 2006.

Breaking down the total, 993 sales were reported in TREB's 28 West districts and the average price was $338,855; 473 sales were reported in the 14 Central districts and the average price was $479,095; 491 sales were reported in the 23 North districts and the average price was $381,975; and 620 sales were reported in TREB's 21 East districts and the average price was $291,488.

The median price for December 2008 was $305,000, compared to $320,950 in 2007 and $290,000 in 2006. For all of 2008, the Median was $325,000, as opposed to $320,950 in 2007 and $299,000 in 2006.

Hamilton - Balanced market now in full swing
(Hamilton - November 4, 2008) The Hamilton-Burlington area resale market reported a total of 926 units sold in October, indicating a decrease of 27.3% over the same month last year.

The total unit sales for the first 10 months of 2008 are being reported at 9.8% lower than the same period last year, while new units listed are 5.2% higher for the year-to-date, according to Multiple Listing Service® (MLS®) statistics released by the REALTORS® Association of Hamilton-Burlington (RAHB).

"Although we saw a small reprieve in September, October continues the slowing trend that has defined 2008, and for the first time the average price has decreased," said Ann Cosens, RAHB President. "A number of factors have lead to this down turn including: decreased consumer confidence; the global economy; and changes in Canada's mortgage lending laws, which limit government-guaranteed mortgages to amortization periods of 35 years or less and with at least a 5% down payment, as of October 1st."

Residential properties sold during October totalled 889 which included 706 freehold properties and 183 condominiums. Commercial sales for October, including industrial, farm, vacant land and business, totalled 37 units.

The average price of freehold residential properties sold in the month of October was $268,805, a decrease of 8.7% over the same month last year. In the condominium market the average price of condominiums in October was $196,899, a decrease of 7.2 \% over October 2007. The average sale price reflects the dollar volume of residential sales divided by the number of total residential units sold.

October's total residential average sales price decreased 8.6% over the same month in 2007, but is still up 4.9% for the year to date.

The total number of units listed for sale during October was 1,849, which is 18.4% more than were listed in the same period in 2007.

"With the market stabilizing, it's a good time to be looking for a home," added Cosens. "With 5,512 properties currently on the market, consumers have more properties to choose from and less pressure to make a quick decision. For those looking to sell, the value of using a licensed REALTOR® cannot be underestimated."

Call me if you have any real estate questions or need a home evaluation.  I would be happy to help !  Michelle Makos, Sutton Group Heritage Realty, Direct: 416-300-3004