Warren Shouldice

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June Real Estate Update

June prices continued to decline slightly across most areas of the market, with detached and attached homes faring much better than condos. In fact, the detached benchmark price in June was $502,400, a 0.4% improvement from May. That put an end to eight consecutive months of losses, however the benchmark price still remains 3.4% lower than last year. Overall, sales activity for 2016 has remained well below the 10-year average for our city. Fortunately, the number of new listings is also down which has helped prevent further inventory gains. As always, market conditions vary significantly based on property type, location, and price.

 

QUICK STATS

 

  June 16 June 15 Y/Y % change
Detached      
Total sales 1282 1331 -3.68%
Average DOM 41 days 37 days 12.15%
Benchmark price* $502,400 $520,200 -3.42%
       
Attached      
Total sales 435 452 -3.76%
Average DOM 49 days 44 days 12.49%
Benchmark price* $331,100 $348,200 -4.91%
       
Condo      
Total sales 311 399 -22.06%
Average DOM 59 days 48 days 24.09%
Benchmark price* $278,200 $295,600 -5.89%

 

*Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends. 

 

How To Tell if a Neighbourhood is Improving
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When you’re looking for a new home, you want to find one in a great neighbourhood – or, at least, in a neighbourhood that is on the upswing. How can you tell if a particular area is improving? Here are some common indicators:

  • Pride of ownership. Take a walk around the neighbourhood. Do you get a sense that people take good care of their homes? Are the lawns mowed? Is the landscaping trimmed? Are flowers planted? Homeowners are more likely to look after their properties when they like where they are living.
  • Home improvements. Are people investing in their homes? Are they getting their driveways re-done? Their windows replaced? Are there signs of home improvement projects? If so, this is a clear indication that homeowners like the area enough to invest in their properties.
  • Real estate sales activity. Do homes tend to sell quickly in the area? Do they sell for a good price? If so, the neighbourhood is probably in demand. If people want to live there, it's a desirable area.
  • Business investment. Are businesses investing in the surrounding area? Is there an increase in the number of upscale shops, health clubs, restaurants, and other commercial enterprises that often locate near desirable neighbourhoods?
  • Community involvement. Are there signs that the community plays an active role in the look and lifestyle of the neighbourhood? Are there neighbourhood picnics, yard sales and other get-togethers? Check Facebook to see if the neighbourhood has a community page.
  • City plans. Find out what plans the city has for the area. Will there be road improvements done in the near future? Are there any major construction projects on the schedule, such as a new school or community centre? Although such projects can be disruptive in the short term, they may improve the neighbourhood – and, as a result, boost the value of any home you buy – in the long-term.

If you need help finding this information, call today.

 

Painting to Sell
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A fresh coat of paint is the fastest and most inexpensive way to make your property more attractive to buyers. It can make just about any room look stylish and new.

The challenge is determining what paint colours and options you should choose out of the hundreds available. Should you be daring and select “designer” colours? Should you consider stippling, ragging and other effects?

Experts say to keep it simple. Stick to just two or three traditional colours for your entire home. The simple consistent tones will make your property appealing to the tastes of more buyers.

 

Home Safety is More than Locked Doors and Alarms
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When it comes to home security, most homeowners think about door locks and alarms. These are, of course, very important. However, there is also a lot you can do around your property to prevent the possibility of a break-in.

One important part of home security is outdoor lighting. Your home doesn't need to be lit up like a baseball diamond at night, but your exterior lighting should illuminate your yard enough to be a deterrent to burglars.

Some burglars hide around the property and wait for someone to arrive and open the door so they can use that opportunity to force their way into your home.

Security experts suggest that you walk around your property and look for areas where someone could hide, such as behind tall shrubbery or behind a tool shed. Make sure these areas are well lit.

Pay particular attention to lighting around exterior doors, especially the back door.

Experts also recommend that exterior lighting be installed with a timed dimmer. The lights can then be set to cast a bright light in the early evening, and then a dimmer light throughout the rest of the night.

Lights installed with motion detectors can also be effective in certain areas. The sensors will cause the light to turn on or brighten when someone comes onto that part of your property. Generally, thieves will flee as soon as they see a light turn on.

Do you hide a spare key under the front door mat or in a flower pot? You may think you have found a clever spot, but experienced thieves know all the common hiding places. So, if you need to have a spare key available, put it in a small combination lock box and hide the box. Even if a burglar finds the box, he won't be able to open it and access the key.

 

notable, quotable... quotes!

 

“Imagination is everything. It is the preview of life’s coming attractions.”

Albert Einstein

 

“Everything you want is just outside your comfort zone.”

Robert Allen

 

“The secrets of getting ahead is getting started.”

Mark Twain

 

Not intended to solicit buyers or sellers currently under contract.
©IXACT Contact Solutions Inc.

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.