Real Estate

Review of Real Estate Activity in 2009

Now that 2009 has come to an end, it is interesting to review the real estate activity has taken place in the Oakville district of Clearview. Clearview is located in the northeastern part of Oakville, bounded by the QEW highway to the north, Winston Churchill Blvd. east, Sheridan, Garden Drive south, and Ford Drive, west. There are just over 2000 homes in Clearview, consisting of family houses, townhouses, houses Liaison (joined below grade), and freehold townhomes.

After a slow start at the beginning of the year, the property business really picked up in late March, and an active market, continued throughout the balance of the year.

The end result – in 2009 there were 72 properties in Clearview, which were sold through the MLS. Of the 72 total sales, 42 were located north of Kingsway Drive, and 30 were located south of Kingsway Drive. Of the total of 72 sales, 51 are detached properties – the rest is a mixture of semi-individual, Liaison and Deputy freehold townhouses.

Clearview 2009 statistics:

For single-family homes sold, number interesting statistics are available:

– * The median list price was $ 515,175
– * The average price sold $ 509,500
– The average of days on market was 35
– Average sales price as percentage of list price – 98% percent of
– The maximum sales price of a detached house in Clearview during 2009 – $ 620,000
– The lowest selling price of a detached house in Clearview in 2009 – $ 335,000

* We use the median instead that the average price, as a more accurate measure of sales – the average price points can be inflated by one or two end sales, while the median is simply the midpoint of all sales in the area.

The vast majority of these family houses were 2 plants had 4 bedrooms and a double garage. The sales prices south of Kingsway Drive were approximately 3% per cent higher than those north of Kingsway Drive.

Outlook for 2010:

With interest rates remaining low, and the Canadian economy slowly improving, many real estate experts are cautiously optimistic about where it directs the market in 2010. In early January, we are seeing a shortage of lists last year to continue in the new year, which bodes well for prices in 2010.

Because of Oakville, in general, and specifically Clearview, the outlook is bright. One thing that adds value to the area – including the new Public Clearview Elementary School. One of the only objections that some potential buyers have had in the past was the need to bus their children to a public elementary school, and now that the objection will be gone.

Randy Selzer is a dedicated Realtor who has been helping people to enhance their lifestyles through the buying and selling of fine real estate in the Greater Toronto Area since 1993. Randy is also a fan and a student of Web 2.0 and social media networking. Get expert real estate tips and advice at http://randyselzer.wordpress.com and free E-books and more at http://www.randyselzer.com.

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