All we can really do is analyze the past markets, ascertain trends and historical data and look at what is currently happening to predict what 'may' happen in the future.
I've always said to my clients that I can only accurately predict about 2 to 4 weeks into the future. That's it, much longer than that time period is more of a best guess.
Volume of sales has continued to be typical and strong, no major drop or trend downward for number of sales - more typcial for this time of year.
Our market average prices have softened since about Labour Day this year and condos seem to be the hardest hit. Prices are still dropping in the market and especially the condo market, not dramatically, but they are dropping.
This is in contrast to the unprecedented growth we have experienced for more than 15 years. The only interruption to that rise in prices was in the fall of 2008
Thank you to all my current and past clients I wish you a Merry Christmas and All the Best to you and your family in 2013!
For more information please contact A. Mark Argentino
A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1