While Hamilton Mountain real estate started 2009 with a whimper, it finished the year strong, giving hope to any home-owners who fearfully watched the market slump in the first quarter, says a local real estate agent.

According to local MLS information for December, sales on the Mountain were up an astounding 87 per cent from the dreary sales figures for December 2008 and up 6 per cent from December 2007, indicating that the market seems to have recovered from the recession, says Jeff Bonner, sales representative with Jag Realty Inc.

Property values have also continued to move upwards, with Mountain real estate overall experiencing a 9 per cent increase over the same month last year, and values about par with pre-recession numbers in December 2007.

The biggest winners continued to be in the west Mountain, with a 26 per cent increase north of the Lincoln Alexander Parkway and 28 per cent south of the Linc. The biggest losers were in the north-central Mountain area, which actually saw a decrease of 9 per cent in average value compared to December last year.

“But I wouldn’t be concerned about a one-time decrease in average value,” says Bonner.  “We are in a more balanced market now and that means some months will be better than others."

Sales values will fluctuate depending on what type of real estate is selling more in any given month, he says, and mortgage interest rates remain low, buyers are still positive and banks are more comfortable giving money out.

"Looking forward, I expect 2010 to be a good year for Hamilton Mountain real estate with sustainable growth.”