The year is almost over and soon 2018 will officially arrive. Although you may be very busy this month, you’re probably spending some time thinking about what you’d like to do and accomplish in the coming year. Perhaps you’d like to get some repairs done around your home, do some redecorating, or take the plunge into a new renovation project.
Alternatively, your plans may be more personal, and include taking a course or planning an exotic vacation overseas. Whatever your goals and dreams are for 2018, I wish you all the best in achieving them. If any of those aspirations have to do with your home, give me a call. I may be able to help.
Warmest wishes to you and your family. I look forward to staying in touch in the new year.
MARKET UPDATE:
Sales picked up in November, likely due to increased consumer confidence as well as pending mortgage rule changes. Most of this activity occurred in the attached and detached segments, particularly in the sub $500k price point. Total sales in November closely resembled long-term averages for the month; the last time this happened was in October of 2016. The benchmark price edged down on a month-to-month basis for attached and detached homes, but they remain slightly higher than at the same time last year. The condo market continues to face significant headwinds, particularly in the city centre, north, and south east districts.
QUICK STATS:
| Nov. 16 | Nov. 17 | Y/Y % change | |
| Detached | |||
| Total sales | 776 | 875 | 12.76% |
| Inventory | 2327 | 2758 | 18.52% |
| Months of supply* | 3 | 3.15 | 5.11% |
| Average DOM | 45 days | 48 days | 6.95% |
| Benchmark price** | $498,900 | $504,000 | 1.02% |
| Attached | |||
| Total sales | 255 | 313 | 22.75% |
| Inventory | 1228 | 1416 | 15.31% |
| Months of supply* | 4.82 | 4.52 | -6.06% |
| Average DOM | 59 days | 54 days | -8.04% |
| Benchmark price** | $328,900 | $332,900 | 1.22% |
| Apartment | |||
| Total sales | 195 | 223 | 14.36% |
| Inventory | 1432 | 1491 | 4.12% |
| Months of supply* | 7.34 | 6.69 | -8.95% |
| Average DOM | 58 days | 65 days | 13.21% |
| Benchmark price** | $268,700 | $258,300 | -3.87% |
Months of supply* The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.
Benchmark price** The monthly price of the typical home based on its attributes, providing the best measure of price trends.
HOW MUCH WOULD YOUR HOME SELL FOR TODAY?
As your REALTOR®, I will look at a variety of characteristics to determine the current market value of your home. These will include the number of bedrooms/bathrooms, the condition of the kitchen and other rooms, the type/style of the home, the location and neighbourhood. These characteristics will then be used to identify similar homes in the area and determine how much they have sold for recently.
Interested in finding out how much your home would sell for in today’s market? Call me today.
GOAL SETTING TIPS FROM THE MOTIVATIONAL MASTERS
Tony Robbins recommends that you, “Decide what you’re absolutely committed to achieving, take massive action, and notice what’s working or not. Then, keep changing your approach until you’ve achieved what you want.”
Jack Canfield, co-author of the Chicken Soup For The Soul series, says, “Write your goals down in detail and read that list every day. Then ask yourself, what can I do today to move closer to achieving one of my goals?”
When you’re feeling discouraged, motivational guru Zig Ziglar provides this simple truth: “You do everything better when you’re thinking positively than when you’re thinking negatively.”
And, although most are not superstar authors, social scientists who study goal achievement recommend that you focus on no more than five goals at a time, and mix performance goals such as “Lose 10 pounds” with learning goals such as “Learn how to cook five new nutritious meals.”
So, set a goal and achieve it. This is your year!
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