November 28, 2016
The City of London’s downtown core and surrounding area continues to see a changing skyline and revitalization. Case in point, the Tricar Group is building a 29-storey, 200-unit condominium high-rise at 505 Talbot Street called Azure. This new development was started just after Tricar’s recently completed two-tower Renaissance development at the southeast corner of King and Ridout Streets. As for the overall market, in September 2016, 866 homes sold in the London and surrounding area representing a 3.1% increase over September 2015. This was the best September on record for sales since the association of Realtors (LSTAR) began systematically tracking in 1978. Year over year the median sale price rose 5.1% to $278,311 in September 2016 vs. $264,971 a year ago.
February 13, 2017
Home sales and listings trends are below long-term averages in the Metro Vancouver housing market. This is due largely to reduced activity in the detached home market. Residential property sales in the region totalled 1,523 in January 2017, a 39.5% decrease from the 2,519 sales recorded in January 2016 and an 11.1% decrease compared to December 2016 when 1,714 homes sold. Conditions within the market vary depending on property type. Detached home prices have declined about 7% since peaking in July while townhome and condominium prices have held steady over this period. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $896,000. This represents a 3.7% decline over the past six months and a 0.2% decrease compared to December 2016.
December 18, 2017
While property and business taxes continue to new a hot button issue this season, the debate hasn’t slowed down construction around Calgary. There are a number of new and developing residential districts in both the northern and southern areas of the city that include supporting commercial amenities. At the same time, the new Green Line or LRT extension is also moving forward which will service most of southeast Calgary.
The median home price for single family detached dwellings is $482,000, a slight decrease from listings of $490,000 a year ago. Month-over-month, the number of homes sold has also decreased slightly, from 1018 to 919 sales last month. The average number of days on market for single family detached dwellings is 42, compared to 38 days two months prior.
January 2, 2017
It seems the change in mortgage lending ratios has made it a little harder now for first-time buyers to qualify and find a home in the lower entry-level price range. Many have decided to look outside of the Burlington and Hamilton areas where homes are not quite as expensive and where multiple offers are not as prevalent–this, despite Burlington being voted 2nd best place to live in Canada in 2016, out of 219 cities. With the ongoing demand for housing there is also a lot of new construction taking place in Burlington and the surrounding areas. Year over year the average sale price in Burlington was up 14.5% in September 2016 to $654,679 vs. $571,439 in September 2015. Comparing September to the previous month of August, the number of homes sold increased to 2,470 vs. 2,235, listings jumped to 3,006 vs. 2,638 and the average days on mark stayed the same at 21 days.
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.
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.
December 26, 2016
The Greater Toronto Area (GTA) as a whole continues to show strong annual rates of sales growth across all major home types with the year-over-year median sale price up 20.4% to $755,755 from $627,867 in September 2015. Underpinning this continued upward momentum has been a strong demand for home ownership combined with a short supply of listings. A sustained lack of inventory is representative of many neighbourhoods across the GTA which has led to the average re-sale in the region being on the market for just 16 days compared to 22 days one year ago.
October 16, 2017
The Region of Waterloo has purchased land at the north-east corner of King and Victoria streets for a transit hub, extending north to the rail line and east to Duke Street. The future transit hub will connect several types of transportation including ION light rail transit, Grand River Transit, expanded GO lines and VIA Rail, along with pedestrians and cyclists. Travellers will be able to make smooth, accessible and convenient connections at the new transit hub, with a goal of bringing people and businesses to Waterloo Region, connecting them to the Toronto-Waterloo Innovation Corridor. The combination of the uses with a mixed-use development is expected to create opportunities for public art, retail shops, offices and residences, all of which contribute to a vibrant downtown Kitchener and a successful ION corridor.
Sales remain above the 5-year average for the region. Despite having dropped slightly compared to last month, demand remains strong in Waterloo. The median home price currently sits at $435,000, up over $30,000 from the same time last year, while the number of homes sold dipped to 410 this month. There are currently 738 active listings, a slight increase, with the average number of days on market pegged at 15 days.
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.
November 21, 2016
The biggest news in Richmond Hill is that real estate prices are out of control due to the influx of foreign buyers. This has helped fuel the construction of new homes and condominiums in Richmond Hill, northern Vaughan, Aurora and Newmarket. Year over year the median sale price jumped 24% to $988,000 in October 2016 vs. $798,000 in October 2015. In Richmond Hill the inventory of homes is not sufficient enough to satisfy the demand, a trend that has been in place for over a year now and another reason why prices are inflated. Comparing the month of October to the previous month of September, the average days on market was unchanged at 16 days.