Home News – Winter 2021 edition

A record year for sales and prices

According to the latest MLS® forecast released by The Canadian Real Estate Association (CREA), national home sales are already heading for a record year in 2021.

  • The national average price is forecast to rise by 9.1% to $620,400.
  • Shortages of supply, particularly in Ontario, will limit sales and keep pressure on pricing.
  • Sales are expected to ease back as the year progresses, but a record is still expected.
  • National home sales are forecast to rise 7.2% in 2021, to around 584,000 units.
  • Demand and price gains are expected to be especially high for larger single-family homes, as buyers compete for desirable properties.

Reasons for seller optimism

The outlook for real estate in 2021 is very positive and there are many reasons for Canadian home sellers to be optimistic:

  • More millennials entering their home buying years will create a new wave of buyers
  • International migration will continue to fuel demand for housing
  • Historically low inventory has created a backlog of pent-up demand
  • The Bank of Canada indicates it will hold interest rates at historic lows
  • Canada’s rebounding economy is expected to grow about 4% in 2021 & 2022

Let’s Get Organized!

Some cultures say you can promote happiness by eliminating clutter, allowing only items that make you happy and are useful to live in your home. By removing things that don’t bring you joy, you’ll experience less stress and have more time. The less is more approach means your home will be easier to navigate and show better to homebuyers, so let’s get organized!

  • Start small, one closet or drawer at a time.
  • Assign a permanent home for every item.
  • Label or use clear containers so you can see contents at a glance.
  • Keep only beautiful, favourite or currently useful items.
  • Don’t let guilt persuade you to keep things you don’t need.

Are you considering/contemplating making a move, whether to enter home ownership, upsize, downsize? Contact us and let’s talk. We can map out together, a personal strategy that will best suit your needs.

Gary & Debbie Baverstock
Broker of Record/Broker
Coldwell Banker Gary Baverstock Realty, Brokerage
145 Gordon Street
519-622-7677 (Office), 888-218-6589 (Toll Free)