As we look back over 2009 in Real Estate and Sheridan Homelands, Mississauga in particular we can only wonder what kind of year it will be in 2010 for the resale real estate housing market.

 2009 proofed to be a very unique year in the resale real estate market it was definitely was a year that met with some challenges both as a buyer and as a seller in the housing market. 2009 started with supply surpassing the demand but by the time 2009 ended this had completely reversed. As a result of the demand we witnessed upward pressure on the average price of homes from earlier in 2009, prices were coming back in line with 2007 & 2008 prices in the Sheridan Homelands neighbourhood as well as across Mississauga and the GTA.

 During the course of 2009 there were a total of 82 listings of detached homes in Sheridan Homelands. (boundaries QEW to the south, Dundas to the north, Winston Churchill to the west and Erin Mills to the east) out of the 82 listings 58 homes sold, 10 listings expired, 12 listings were terminated and 2 homes are currently still being offered for sale. The average sale price for 2009 in Sheridan Homelands was $449,802.00, 97.75% average of the list price.

 Interestingly there were only 29 detached homes that sold during the year in 2008 for Sheridan Homelands with an average sale price of $482,507.00. Even though the numbers show that the average sale price decreased these numbers are not completely representative as to what was happening in the resale market. Demand was strongest in the lower price range the entry level market; in fact it was not until November, 2009 that we truly witnessed movement in the upper end of the market. Also with such a cross section of types of housing in Sheridan Homelands these numbers are more reflective of the type of detached homes being offered for sale in 2008 & 2009. 2008 found more of the older homes on larger lots, renovated/updated homes and newer homes in the eastern part of the Homelands being offered for sale, where 2009 offerings were more to the heart of the Sheridan Homelands neighbourhood and the homes built in the late 1960's and early 1970's.

 I look forward to the 2010 and what it brings to the resale real estate market.

 If you have further questions or are thinking of making a move please give me a call.