2009… Bust or Boom
2010…Strong and Balanced
Last year was a roller coaster for the real estate industry. January to April was dismal in transaction volume and May to December made up the volume missing in the first part of the year. The total volume of sales for 2009 ended 24 percent higher than in 2008, and the value of transactions rose 20 percent above 2008’s figures. Although there was an increase in the number of transactions, surprisingly overall average prices remained relatively static with single family dwellings declining by less than 1 percent, condominiums declining by less than 3 percent and townhouses remaining unchanged, a remarkably balanced market for the sudden surge in sale volume in the latter part of the year.
