January 9, 2017
The Markham real estate market has been on fire the past year. This fact was reflected in the year-over-year median sale price which was up almost 16% in September 2016 to $875,000 vs. $755,000 in September 2015. The increase in home values may have motivated more homeowners to get in on the action as the inventory of homes increased in September 2016 to 643 vs. 497 in the previous month of August. Meanwhile the number of sales for September dropped to 497 units vs. 581 units in August, while the average days on market dropped by three days to 16 in September vs. 19 in August, indicating that when buyers saw something they liked, they were aggressive in closing the deal.
June 10, 2015
“The 1,055 homes sold in May 2015 represented the best May the London market has experienced since 2007. Looking at the market on a month-to-month basis, sales were up 9.4% compared to the previous month of April. Year-over-year the average sale price was up approximately 4.5% to $263,785 in May 2015 vs. $251,680 in May 2014. As well, the sales-to-new-listings ratio was 58% in May which is over the typical 50%-51% range. Overall the London market remains balanced, a trend that has been in place since early to mid 2007, however, May listings were down 3.7% in London and inventory at the end of period was down 2.7%. If this continues, a shift to a seller’s market could be imminent.”
October 2, 2017
Competition for condominiums and townhomes pushed Metro Vancouver homes sales above typical levels this summer. Reports indicate that residential property sales saw a 22% year-over-year increase, while last month’s sales were nearly 20% above the 10-year sales average. The demand for condos and townhomes outstrips supply at a pace never before seen, especially between the $350,000 and $750,000 range, while detached sales seem to be balancing. The total number of homes sold reached 529 properties, up from 431.
November 27, 2017
The market in Northeastern Ontario is seeing some slight fluctuation this fall. In Timmins, the average sale price for a home stands at $180,453, down slightly from the year before. Meanwhile, the number of homes sold during that same time period has increase, from 437 to 453 properties. These homes have also taken slightly longer to sell, with the average number of days on market ticking up from 71 to 79 days. Current listings feature 943 homes on market, down from 1004.
With a degree in Economics and a general interest in real estate from a young age, the only thing Taylor Moore needed to launch his appraising career was a little push. That came after a conversation with an experienced local appraiser, who gave him the boost he needed. After completing the necessary training, Taylor went on to earn his CRA designation and ultimately, with the help and guidance of another appraiser, went on to start his own appraisal firm, A&M Property Appraisals Ltd. Since joining the industry four years ago, Taylor has built a reputation around his region of Northeastern Ontario for his enthusiastic, systematic, and consistent approach to appraising.
February 12, 2018
For the second year in a row, the Waterloo Region is leading the country when it comes to tech job growth. Waterloo, Kitchener, and Cambridge have been named Canada’s fastest growing tech talent market, increasing its talent pool by nearly 66% in the last five years and adding 8,400 tech jobs. Kitchener-Waterloo’s thriving startup and tech scenes are two of the fastest growing market segments in North America too, trailing only Charlotte, North Carolina.
Six tech companies in the Waterloo Region were recently named in Deloitte’s Fast 50 too. An annual list that ranks the country’s fastest-growing companies, including Kitchener-based video marketing pioneer Vidyard. And while Shopify isn’t based in Kitchener-Waterloo, the Canadian ecommerce darling is making a big bet on the region’s tech talent by opening up a second office that will create 300 to 500 jobs over the next three years.
It should be noted that the tech sector accounted for 16.1% of all major office leasing deals in Canada last year, with Waterloo in particular making up nearly 22% of that alone.
October 30, 2017
Skyrocketing real estate prices have made shopping centres rethink how they use space. Several malls are now putting highrise buildings in their parking lots instead of cars. The owners of Coquitlam Centre are looking into building four residential highrise towers on the mall’s parking lot, just as three other lower mainland malls, Lougheed Town Centre Mall, Brentwood Town Centre Mall and Metrotown in Burnaby, are already doing.
Substantial redevelopment currently underway in West Coquitlam near North Road & Como Lake Avenue, in an area referred to as “Burquitlam.” Several new highrise towers along with new commercial space is being constructed around the newer Burquitlam Skytrain station which opened last December.
Condominium and townhomes continue to be in high demand outpacing the detached home market. While the detached home market is balanced, the apartment and townhome sales remain to be a sellers’ market with high demand and lower inventory.
The median home price in Coquitlam for September 2017 was $905,200, up substantially from $790,200 last year. The city saw 185 sales in September, down from the 233 homes sold this past August 2017 while the inventory of homes increased from 369 to 439 homes The average number of days on market currently sits at 21 days.
April 10, 2017
Strong demand for condos and townhouses along with a shorter supply of residential properties has led to continued demand in the Metro Vancouver area. According to a report published by the Real Estate Board of Greater Vancouver earlier this month, while residential property sales in March 2017 decreased 30.8% from a record-setting month a year prior, the 5,173 recorded sales represent a 47.6% increase over February. Despite not reaching the same heights as last year, demand in the first few months of 2017 remains strong. Last month’s sales were also 7.9% above the ten-year sales average for the month. Lastly, sales of attached properties in March reached 588 units, a decrease of 25.2% year-over-year. The benchmark price currently sits at $685,100, a 1.4% increase month-over-month.
March 27, 2017
Wasaga Beach is getting ready to undergo a major redevelopment project that is set to give the area a completely new look. With condos, a casino, boardwalk, and new hotels planned for the future, the activity is sure to attract a wide variety of new visitors and residents alike. Currently, the average selling price for homes in the area is $425,000, an increase of nearly 17% compared to the same time last year. Similarly, the number of homes sold increased last month from 33 to 42, with the average number of days on market dropping from 35 to just 20 in February 2017.
February 27, 2017
Residential sales activity totalled 43 units in December 2016. This was unchanged compared to a year earlier. The average price of homes sold in December 2016 was $218,250, rising 2.4% from the previous year. The annual average price figure was $232,040, up 4% from the same period the year prior. New residential listings were slightly down, however, from December 2015 with a total of 60 homes. With 357 units listings at the end of December, active residential listings were down 16.8% from December 2015. The total value of all residential sales amounted to $9.4 million in December, climbing 2.4%.
September 9, 2015
“A growing Hamilton economy, strong demand from buyers who have been priced out of the GTA market and the opening of a new GO Station in the North End have all combined to make for an increasingly hot real estate market. Housing starts in Hamilton are in demand with plenty of new homes under construction on the Hamilton Mountain as well as in nearby Stoney Creek, Ancaster, Waterdown and Binbrook. Comparing August to the previous month of July, the number of homes sold was down from 1,563 to 1,251, while the inventory of homes in the marketplace rose from 2,381 in July to 2,737 in August. Average days on market remained relatively the same: 33 days in July vs. 36 days in August.”