Market Report

Market Report

In real estate January is always a good time to look back at the year that was and then look forward to the year that will be.

Last year was called “the worst economic climate since the depression.” It was repeated on the news and papers across Canada. In actual fact it was not true. We certainly had a tough year but it was no worst than the downturn we experienced in the early 80’s. The media also talked about the plummeting real estate values across the nation. This was only partially true.

Many market places did suffer declines, but many did not. Locally Stratford weathered the storm very well. How much did prices decline here in Stratford? They didn’t. That’s right, we went up last year compared to 2008. House prices rose 1.52% - 2009 over 2008. The average house price in 2008 was $214,725 but 2009 was $218, 030.

Going forward into 2010 the biggest challenge we currently face is the lack of inventory. There are just not enough houses for sale in Stratford. Currently there are only 36 houses under the average house price of $218,030. If fact there are only 120 homes on the market in Stratford. Not nearly enough to have a good balanced market. What it means is the seller’s have the upper hand and buyers will have to move quickly if they find the home they are looking for.

If you are thinking that this may be the year to move up or to enter the market, now is the time. You want to be fully prepared to take advantage in the spring market. With the lack of snow this year the spring market is here, so that means getting ready right now.


Jamie Woodend
Sales Representative
Remax a-b Realty Ltd Brokerage
88 Wellington Street
Stratford, Ontario, N5A 2L2
519-273-2821 ext 229 Office
519-949-0345 Cell