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
CAMBRIDGE, ON N1S4K7
519-622-7677 (Office), 888-218-6589 (Toll Free)
Hanging up Holiday Lights? Here’s a simple home check.
For many homeowners, the holiday season is a time to break out the ladder. While you’re up on the roof stringing lights, it’s a great opportunity to check out it’s condition and avoid costly future repairs.
Look at the condition of your shingles. Are any missing or damaged that need replacing? Check the flashing around drain pipes, vents and skylights to ensure there are no leaks. Inspect your chimney for loose bricks or mortar. And don’t forget to clear debris from your eavestroughs to ensure they’re draining freely. Then enjoy your holidays with some extra peace of mind!
Strong market forecast for 2018
Industry forecasts predict that 2018 will be another strong year for Canadian real estate, although not at the record and near record levels seen in 2017. According to the Canadian Real Estate Association (CREA) national MLS® sales in 2018 are expected to exceed 495,000 units, due in part to tightening mortgage regulations and increased mortgage rates. Home prices are expected to stay strong, with CREA forecasting a national average price of $503,500 in 2018.
While it’s interesting to review national trends, home sales and prices can vary dramatically between communities, or even on the same street. That’s why it’s so important to get data that’s specific to your market. For a local perspective, contact your Coldwell Banker professional.
Affordable holiday gifts to make your home smarter
There’s growing interest about smart home technology, but some homeowners have the impression it’s an expensive undertaking. Actually, there are a number of very affordable ways to make your home ‘smart’ that you might consider for gift-giving season. Smart plugs let you control your electronic devices such as lights, fans, heaters and more from your phone or tablet, when you plug into an electrical outlet, using a free app for your Wi-Fi network. Mini home devices let you use your voice to control your favourite compatible home devices. Programmable Thermostats help you save money while keeping your home comfortable day or night, whether you’re home or away.
Check out your local electronics store to learn how affordable it can be to make your home ‘smart’.