Overall the residential market in Cambridge, Ontario and surrounding areas for 2010 was similar to that of 2009. Sales in 2010 were just over 95% for those sales in 2009, you will note that the average sales price rose from $285,031 in 2009 to $310,656 in 2010 – an increase of almost 9%. This can be attributed to higher end properties being sold and in some sectors the selling prices increasing. The sales to listing ratios for both years are constant. This means that the percentage of homes listed to those being sold was about 57%. There are still a number of homes that come on to the market that don’t sell. This could be attributed to overpriced homes or ineffective marketing programs. In 2009 after the recessionary pressures south of the border the real estate market was slow to get going in the first part of 2009. Like gangbusters the last 6 months of 2009 was very active as buyers and sellers sold and bought properties at a fast pace. In 2010 that fast pace continued and the first part of 2010 was very active. It appeared that sales over the same period the year before were being smashed. Throughout the latter part of 2010 those sales over the previous year were lagging behind. Don’t forget that the latter part of 2009 was very active as consumers were buying and selling at a very quick pace. Overall we have had 2 very good years in Cambridge and with low interest rates, lack of new homes being built in some areas I believe that 2011 will again be a very good year.

Thinking about Buying, Selling or Investing in Real Estate in the Cambridge, Guelph, Kitchener, Waterloo or surrounding areas? Call Dale Dyer Broker with RE/MAX Twin City Realty Inc, Brokerage Cell 519-241-1122 or office 519-740-3690 or visit www.DaleDyer.com for more information and search for homes for sale or go to www.TriCityHomeSales.com for free Real Estate Reports.

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