Toronto Real Estate Market in 2009-2010

The report shows that the sale market was doubled from 2009 January report for the same period. When the report shows a growth in the selling market it means people are more confident and are welling to commit themselves for a long term payment. It means they are more confident on the economy and their stability in their jobs. Also do not forget that the interest rates are very low at this time and this is another way of encouraging reason for the buyer to feel more comfortable in buying homes.The average price in the same period of time in 2009 was around $332,500 which now in 2010 is around $395,000. There is an increase and appreciation in value of homes.Sales of Toronto Homes in 2009 started very weak but the year ended with a very strong sale. Experts believe that, yes 2009 for Toronto homes finished very strong, together with low interest rates and the winter season, the supply is less than the demand. This would affect the price of the homes in Toronto.Sellers are expecting and waiting for a better weather to put their houses for sale. They think if they wait more the prices might go higher. Experts in Toronto reporting that if lots of homes come to Toronto home market then the supply would be high and at this time prices will not go high as fast as end of 2009 and beginning of 2010. This will affect the Toronto real estate market.Despite of having a slow 2008 real estate market in Toronto, by the last months of 2009 home prices did increase in value. For example Detached Bungalow homes increased 6%, 2storey homes increased 5.2%, and condominium apartment had a increase of 6.4%.As you may know location always talks first. Even in a bad economy and passing through a recession, Toronto homes which are in good locations had less affect than other locations. Yes, It did shake the value of those good homes in good location too but not as much as others.