Stats: from the Realtors Association of Grey Bruce
-average home price $399,690 and average year to date price was $408,382
-the number of listings were up but were still at record lows
-months of inventory 3.3 = the number of months it would take to sell current inventories at the current rate of sales activity
-average home price $445,913 and average year to date was $422,913
-months of inventory 3.2….long run average for this time of year is 7.5
-dollar value of sales in Grey-Bruce was $94 million-a new record and up 56.8% from March 2019
The market was in good shape until COVID-19 put a halt on many dealings.
-as of Friday April 24, a 5 year fixed rate is sitting at 2.69% and a 5 year variable is at 2.35%
These are great rates….the first home my husband and I purchased, we had a 19% interest rate!!
If you are experiencing financial difficulties, check with your lender about the built in mortgage features that you may have, inquire about a home equity line of credit or maybe extend the amortization period.
-unemployment rate in Canada in February was 5.5%, March 5.6% and is currently at 7.8%+
-this is the highest jobless rate since October of 2010
The good news is that these jobs are not gone, but are there and waiting for the day when social distancing is over
Stock Market and Investments:
We have all taken a hit in terms of our investments….I received my RRSP first quarter report in the mail the other day and was not happy to see a loss. One huge investment many of us are lucky to have is our home….it has not lost its value!
I wish I had a crystal ball and could see the future, but all signs are pointing to a strong recovery in the real estate market when restrictions are lifted. We are slowly starting to see more listings, more (virtual) showings and more deals coming together. We will still have a busy spring market, it may just happen in July!!
Spring is finally on the way and I can't wait. I love this time of year...the snow is melting, the days are longer, the sun is getting warmer and it won't be too much longer until the grass turns green and the flowers are blooming!!
Predictions in the real estate world are that the spring market will once again be hot!! Inventory in our area is still at record lows and average prices are up. Definitely a seller's market...if you have been on the fence, it might be a good time to consider listing. Call me to discuss your options. Not quite ready yet?? Contact me and I can give you an up to date idea as to what your home is worth in today's market.
The real estate market has slowed down a little in my opinion. We still have the lowest inventory we have had in a long time and average prices are up. I am always looking for new listings, so if you have considered selling or know of someone thinking of buying or selling, please give them my contact information.
Enjoy the rest of the summer.
Sue Hopkins-Woods of Royal LePage RCR Realty Brokerage, will give $500 for every 3 month (or more) listing agreement signed with her from May 1, 2017 to May 31, 2017.
Eligibility: All individuals who are, as of May 1st 2017, over the age of 18 and a resident of Canada, are eligible to participate in the Promotion. Lenders operating under power of sale are not. Each individual that participates agrees to be subject to, and abide by, these rules and regulations.
How to enter: To receive the $500, an eligible individual must sign a 3 month (or longer) listing agreement with Sue Hopkins-Woods, Royal LePage RCR Realty Brokerage (in her service area) on or after May 1, 2017 up to and including May 31, 2017. Sue reserves the right to refuse to list a property at her sole and absolute discretion. Where there is more than 1 party listed, the money will be divided and distributed evenly to each party on title. Each party must sign the listing contract to be eligible. The money will be paid at the end of the listing agreement or, in the case the home sells, upon closing. No monies will be paid if the listing is cancelled or suspended.
Limitations of Liability: All participants agree to release and hold harmless, Sue Hopkins-Woods, Royal LePage RCR Realty Brokerage and all its’ respective owners, directors, managers, officers, employees, agents, sales representatives and brokers from all losses, damages, penalties, claims, actions, lawsuits, costs and expenses of any kind and any property damage, personal injury or death to any participant or third person caused by, arising out of, or in connection with participation in the Listing Blitz Promotion.
Sue Hopkins-Woods, Royal LePage RCR Realty Brokerage reserves the right to modify the terms and conditions of this Promotion at any point of time at her sole and absolute discretion.No purchase necessary. Not intended to solicit currently listed properties or those parties currently under contract.
This crazy weather hasn't slowed down the market. We still have a lot of buyers and very few listings on the market. If you have been thinking of selling, now may be the perfect time. Contact me as I would love to help you out. Let your friends, family and neighbors know I am eager for their business.
Here's hoping to sunny skies in the near future...my toes are looking forward to sandals!
-customized listing sheets
-social media marketing
-feature page on my website
-quality print ads
-exposure on the MLS®
-videos and quality photography
-attention to detail
Your home will be my top priority!
This Week in Real Estate.pdf