December Real Estate Stats And The 2009 Market

Well the news is out. It confirms what we all new.


This linked Record article shows the stats for Waterloo Region for December (and 2008 as a total) had dramatic decreases from last year with MLS SOLD properties

The good news is the sky is not falling.

First we must remember that 2007 was a phenomenal year. Second is MLS is losing ground to competition. The stats for PropertyGuys.com here in Waterloo Wellington show a different story than what the "traditional" real estate model shows. Year over year for December SOLD properties increased by 46.1% and when you look at the entire year of 2008 vs 2007 the increase was 32%.

1/3 more people paid themselves in Kitchener, Waterloo, Cambridge and Guelph in 2008.

People are choosing a cost effective alternative to listing their home with real estate agents. When you sell your home you need some level of comfort. For most a sign on the lawn and an ad in the paper falls short. Some just prefer the all encompassing feeling that an agent can bring, no matter the cost.

I had lunch with an agent today. His opinion of the market for 2009 was pretty bleak. He is going to ensure his clients are focusing on pricing their home not only on past market trends but also on future market trends. This means that with an expected decrease of 5% in the market he will be adjusting his clients accordingly in their expectations.

If you are looking at listing your home and have not purchased one yet you are sitting in the driver's seat. In a market like ours, having an offer not conditional on sale is the ultimate tool for negotiations.



Give yourself a strong start in 2009. Be a CHAMPION!!!

M