Warren Shouldice

Cell: 403-461-8103 |

MAY NEWS & STATS

In case you haven’t already noticed, there has been a little more action in the real estate market lately. This activity is common during the spring and summer months. After all, summer is an ideal time to make a move! While the total number of sales is on the rise, so too are new listings. This continues to add to the city’s inventory levels, which are currently at 6148 units, an increase of 14% over the same time last year. The increased inventory, along with weakness in the labour market, has continued to put downward pressure on prices. As always, market trends vary significantly based on price, location and property type. If you have any questions about what’s going on in the real estate market please give me a call, I’d be glad to help.

Quick Stats:

  May 16 May 15 Y/Y % change
Detached      
Total sales 1217 1362 -10.56%
Average DOM 39 days 38 days 3.71%
Benchmark price* $500,500 $518,000 -3.38%
       
Attached      
Total sales 431 465 -7.31%
Average DOM 46 days 43 days 7.72%
Benchmark price* $332,100 $347,100 -4.32%
       
Condo      
Total sales 275 359 -23.40%
Average DOM 49 days 48 days 0.98%
Benchmark price* $278,500 $295,000 -5.59%

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

Home Inspectors Help More Than You May Think
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If you’re thinking of buying a particular home, you’re probably aware that you should get a qualified home inspector to examine it. In fact, most offers will include a condition that the property be inspected before the sale becomes final.

A good home inspector will go over the property from top to bottom, inside and out. He or she will look for things like cracks in the foundation, out-dated wiring, repairs that need to be done, and aging components (such as the roof and furnace). The inspector will also provide a timeline for the replacement of any of the major components including HVAC windows, roof, etc.

Basically, a home inspector helps you understand the condition of the home and the related expenses you should expect.

But it can also be very beneficial for a seller to hire a home inspector. Getting your current home inspected before you list it for sale can help sell your property faster and for the best price.

Say you put your home on the market. You get an offer. That offer is conditional on a home inspection. What if the inspector uncovers a major issue, like a leak you weren’t aware of, or some problem with the wiring? The buyer could potentially walk away from the deal.

If, however, you got your home inspected first, you would know about those issues in advance and could deal with them appropriately.

So a good home inspector can be more valuable than you think!

 

Give Your Outdoor Space a Wash & Haircut
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When preparing a home for sale, most people focus on making the inside look as appealing as possible. But the outside of your property deserves your attention too. After all, it’s the first thing a potential buyer sees.

You can dramatically improve the appearance of your property by giving it a “wash and haircut”!

Clean the driveway, walkways and deck or patio. A pressure washer — which can be rented from most home improvement centres — works best, although you can do nearly as good a job with a water hose and walkway cleaner.

Trim hedges and shrubs. Mow the lawn. Pull any weeds out of flower beds.

These small measures will help you make the best first impression on buyers.

 

Creating a Realistic New Home Budget
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You’re probably aware that there’s more to the cost of a new home than its purchase price. So to help you make an informed decision, ask yourself the following questions:

  • How much do you expect to pay for moving expenses? Don’t forget to include packing materials in your calculations.
  • “Closing costs” are the extra charges you will have to pay at closing. How much do you expect your closing costs to be?
  • Estimate how much you’ll pay for activating your phone, internet service, cable television, and other utilities at your new home. These little costs can add up.
  • Will your new property require painting, repairs, and other preparations once you move in? How much will they likely cost?
  • Will you need to purchase new furnishings, decor, and other items for your new home? What’s your budget for those items?

The more aware you are of the true costs of a home you’re interested in buying, the better choices you’ll be able to make about that home. If you decide to buy, you’ll be able to do so with much more confidence.

 

notable, quotable... quotes!

 

“Not everything that is faced can be changed, but nothing can be changed until it is faced.”

James Baldwin

 

“Worrying is like a rocking chair: it gives you something to do, but it doesn't get you anywhere.”

Anonymous

 

“When you’re through changing, you’re through.”

Bruce Barton

 

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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.