End of the recession?

Have you been noticing a lot of SOLD signs in your neighbourhood? Brampton houses have started to sell really fast in the past month. June 2009 was the busiest june ever on the Toronto MLS system.

I have personally noticed the most popular area has been North West of Brampton by Chinguacousy and Wanless. Detached houses around 1800 sqft have been all been selling with multiple offers. There is a shortage of listings in that area. I got 3 listings there and they all sold in less then a week.

Houses over $400,000 are still taking a little bit of time to sell but nothing like a few months ago. I remember from December 2008 to April 2009 houses in Brampton (well pretty much all over) were taking forever to sell. Buyers were very scared about losing their jobs, banks were very tight with lending money, which resulted in too much supply.

The sellers are back in control of the market. Anyone who bought during the recession did really well. Some areas of Brampton were down in prices as much as 10%.  July, so far has been very busy. The stats will come out at the end of the month and I’ll be sure to post them.

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