Category Archives: Market News

These Lazy Hazy Crazy Days Of Summer

July 9, 2010

With the recent heat wave across Ontario, we have seen a definite increased interest in cottage real estate. Our summer season is in full swing with the area provincial parks full with campers and most cottages getting lots of use.

If you’ve been thinking about buying your own piece of cottage country, this is an excellent time to get into the market. Overall, our listing inventory is up 31% from 2009, which means there is an excellent selection to choose from. For example, you can get into a comfortable 3 bedroom cottage with access into Whalley Lake and year round maintained road for only $214,900.

If you’re more of a do-it-yourself type, we have a 15 acre parcel on Murdock Lake with a private road access and 689 feet of waterfront for $114,900.

And who said it was expensive to get into the cottage market?

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Also posted in Cottage Ownership, My Listings, Seasonal – 0 Comments

Everything you ever wanted to know about cottage life (but were too afraid to ask)!

June 15, 2010

I recently had the pleasure of chatting with Suzanne Wintrob, writer for the National Post’s Home section and was very happy with what she did with the material (and other REALTORS) gave her to work with.   The information contained within the column is excellent and should help buyers and sellers, new and seasoned both, to understand what makes the waterfront real estate market “tick”, and what the long term prospects are.

You can read the full article here.

Also posted in Cottage Ownership – 0 Comments

April was a good month!

May 18, 2010

Today, CREA reported on their website that the Parry Sound area that home sales were up considerably from the previous year, as were the number of listings on the market.  Probably a combination of the yearly spring and continuing robust local economy.

Read the entire article here.

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CREAstats – Parry Sound Real Estate Board Real Estate Board

February 2, 2010

The number of homes sold through the MLS® System of the Parry Sound Real Estate Board posted a large year-over-year gain in January 2010. The average price of those sales was also up strongly from one year ago, setting a new record for the month

January is almost always one of the slowest months of the year for home sales, and this year is no exception. However, activity in the first month of 2010 stood above January sales in most other years on record.

According to statistics provided by the Board, home sales activity numbered 13 units in January 2010, a gain of 44 per cent from the same month last year. Activity in the month of January has surpassed this level just three times in the past 30 years.

“The difference in the resale housing market now, compared to one year ago, is night and day,” said Shirlene Johnston, President of the Parry Sound Real Estate Board. “It was a good start to the new year, with sales, prices, and new listings all recording double digit gains in January.”

The total dollar value of home sales in January 2010 was $3.6 million, a jump of 83 per cent from levels reported in January 2009.

The residential average price of homes sold through the MLS® System of the Parry Sound Real Estate Board was $274,962 in January 2010. This is the highest level on record for the average home price in the month of January, up 27 per cent from the same month last year.

The number of new residential listings on the Board’s MLS® System rose 24 per cent on a year-over-year basis to 57 units in January.

Despite the uptick in new listings, active residential listings continue to trend downwards from last year’s elevated levels, and this is helping to stabilize the marketplace. There were 293 active residential listings on the Board’s MLS® System at the end of January 2010, down 16 per cent from 12 months ago.

There were 22.5 months of inventory at the end of January 2010. While this sounds high, it is important to remember that an increase is normal at this time of year since demand normally eases relative to supply over autumn and winter months. Last year at this time there were 38.6 months of inventory. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The Parry Sound Real Estate Board is committed to a high standard of business practice, strong business ethics, and continuing education development that assists REALTORS® in effectively serving the reawl estate needs of the community. With over 100 Members, its REALTORS® service a large geographical area, extending from the French River to the north, southerly to Go Home Lake Road, easterly to the Highway 11 corridor and westerly which includes the shores of Georgian Bay.

from http://creastats.crea.ca/parr/

Also posted in Local – 2 Comments

CREAstats – Parry Sound Real Estate Board

January 27, 2010

Latest stats published by the Canadian Real Estate Association show a strong market for the second half of 2009 (but we knew this already, didn’t we?)

CREAstats – Parry Sound Real Estate Board Real Estate Board

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State of the Market – Winter 2010

January 7, 2010

December snowHappy New Years to everyone!  I trust you had an enjoyable and relaxing break over the holidays.  Personally, I took off the entire two weeks and spent the first half on the island of St. Kitts in the Caribbean.  If you like your vacation spots to be less commercialized and a bit more authentic I highly recommend this sleepy island in the Lesser Antilles.

Parry Sound becomes somewhat sleepy at this point of the year as well, much like St. Kitts.  We received one the most severe December snow storms in memory over a three day period during the second week of the month.  Some areas in the Parry Sound and Muskoka area received in excess of 150 centimetres of snow over a three day period, effectively paralyzing transportation, cancelling school buses, and escalating sales of snow blowers, shovels, and other assorted snow removal apparatuses.

Since that storm four weeks ago, Parry Sound hasn’t had any major storms and the winter weather has settled to a more predictable pace as the month proceeds along.  Area lakes are for the most part, ice covered, but make sure to check on local conditions before venturing out.  The Big Sound remains ice free out front of Parry Sound looking towards Killbear Park, and unless we get into a deep freeze, will probably remain that way until at least mid month.

We have received the final numbers from the Parry Sound Real Estate Board for 2009, and they came in where I expected them to.  Total sales for the year were down by only three percent from the previous year, or 18 less units sold.  Listings were also down, 15 percent less properties were listed on our local MLS in 2009 than were in 2008.

My personal feeling is that we’ll see the trends established mid way through 2009 to continue through this year.  Sales number began to improve throughout the year and I see no reason why this numbers should continue to strengthen in 2010.  Listing inventories should also improve as potential sellers feel more confident about the prospects of putting their properties onto the market.  This should also have the effect of moderating any inflationary pressure created by the strengthening demand for properties, effectively holding prices in check.  Interest rates should continue at their record low levels, helping to keep financing affordable.

If you have any questions regarding the market, please do not hesitate to contact me anytime.

Happy January

Jim

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RE/MAX 2010 Housing Outlook

December 3, 2009

Mississauga, ON (December 3, 2009) – In the midst of one of the most tumultuous economic periods in recent history, residential real estate has proven to be a safe harbour, with sales and average price expected to post gains in most major Canadian cities in 2009, according to a report released today by RE/MAX.

The RE/MAX Housing Market Outlook for 2010 examined residential real estate trends in 23 markets. The report found that sales are forecast to recover in almost all major centres by year-end 2009, led by an anticipated 45 per cent increase in Greater Vancouver. Two markets — Ottawa and Quebec City — are expected to hit historic highs in the number of homes sold. Average price should post new records in 65 per cent of markets surveyed this year. As economic performance ramps up across the country, so too will residential real estate. Eighty-three per cent of markets (19/23) are expecting sales to increase over 2009 levels while housing values are forecast to escalate in 91 per cent (21/23) of Canadian centres in 2010. The remaining markets will match 2009 levels.

Approximately 465,000 homes are expected to change hands nationally in 2009, a seven per cent increase over one year ago. Canadian housing values are forecast to close the year at $318,000, up five per cent from $303,594 in 2008. By year-end 2010, the number of homes sold is predicted to climb another two per cent to 475,000 units. The average price of a home is also expected to experience an uptick, rising two per cent to $325,000 – the highest level in Canadian history

“2009 was without question the year of the house,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Real estate not only defied industry and analysts’ predictions in 2009 — it’s performance went well beyond the realm of expectation by boosting consumer confidence levels and ultimately kick starting the national economic engine. While low interest rates were a principle factor driving home buying activity, no one can discount the value that Canadians place in owning a home.”

Also posted in National Real Estate News – 0 Comments

Winter outlook

November 24, 2009

The long range Environment Canada weather forecast is finally showing some snowflakes and colder weather for Parry Sound, so I guess it is time for me to check the wiper blades, fill up on wiper fluid, and make sure my snow blower is ready for another winter season.

The mild autumn has been a great bonus for real estate buyers and sellers in our area.  I’ve always believed that fair weather puts people in a good buying mood, especially for recreational properties.   Not to say that I haven’t sold real estate in the midst of raging blizzards ( I sold a Otter Lake waterfront home on Boxing Day 10 years ago with snow accumulating at the rate of 15 cm/hour), it’s just a more pleasant experience when at the very least, the sun is shining.

Last winter started early and didn’t really let up until February.  After the weather moderated, potential buyers returned to the area and we ended up selling a couple of waterfront properties long before the spring set in.

If this year’s El Nino weather pattern continues for the winter, it’ll bode well for home and cottage sales after the holidays are over.

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Long overdue September update

September 23, 2009

About two weeks ago, Bonnie stuck a small, yellow post-it note atop my computer monitor with a implicit message on it.

“Blog often.”

Alas, when I look at my last posting from back in August, I realize I have neglected the blog for far too long, hence, this long overdue update.

Blessed with long overdue summer temperatures, September has been a wonderful month…perhaps the best month the entire year. The summery weather has translated into brisk market activity with many homes and cottage sales transpiring over the month. As long as the weather holds, we should remain busy through October.

So if you’re still looking to buy or sell property in the Parry Sound area, don’t let the date on the calendar scare you. As I told a prospective seller on the weekend, people looking to buy this time of the year are looking to get into a property for the Holiday season. Conversely, Spring buyers are looking to secure something for the summer.

We need to rid ourselves of the mindset that cottages are of a seasonal use only. As more and more cottages get winterized and roads get ploughed, the Parry Sound area will continue to become more of a 4-season destination, as opposed to May to October.

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Live from California

August 11, 2009

san francisco street sceneI apologize for the lack of postings this summer. Between the amount of business we’ve been doing (what recession?) and my trip to California in August, I’ve had difficulty keeping the blog up to date.

The Iman conference in San Francisco I attended last week was the best conference I’ve ever been to. Representing CREA’s MTC committee (which I sit on), Inman focuses on technology and real estate. Social media was the topic of many of the seminars, and I learned that we in real estate only use it to a n’th of its potentials.

Despite being aware of how bad the economy is in the U.S., I was surprised as to how deep and widespread the recession is and how depressed real estate markets are across the country.

Returning from a morning of whale watching on Monterey Bay (we saw several humpbanks and blues) I had an interesting chat with a woman and her husband from Reno, Nevada. The gentleman is a home builder and she’s a real estate broker with over 20 years experience and owns a small boutique office in the city. After exchanging typical real estate niceties like “hows the market”, she told me how she’s only had a single sale since last March (of 2008) and that she had to lay off her entire staff, close her office and run what’s left of the brokerage out of her home. They’re currently living off what’s left of the equity in their home and their retirement nest egg. She’s seeing a slow turnaround in the market, helped mostly by the stimulus package the Obama government introduced earlier in the year.

Yesterday, Kim and I took a walked through downtown Sonoma, California, which is in the heart of wine country, with some of the most expensive real estate in the country. When Kim slipped into one of the clothing stores on the street, I walked into a Coldwell Banker office next door and struck up a conversation with the duty agent.

Instead of my usual “how’s the market”, I asked, “how bad are things here?” She responded with a bit of smile on her face, that things were slowly improving and that prices were down 25% from the peak in 2007.

When I asked about the amount of activity in the market, she replied that there were 35 homes that sold last month, which was up from the previous few months.

That’s 35 home sales in a trading area of about 30,000 people…about the same size of Orillia.

Ouch!

While we’ve sometimes complained about how bad things the economy is in Canada, we’ve got nothing on our neighbours to our south. You see the effects of the recession everywhere you look, from the numbers of homeless people on the streets of San Francisco, to the numerous ads on radio and TV promoting the government’s Cash for Clunkers program.

Economic recovery is taking hold in the U.S., but it is going to take a long time to fully take hold. We, in Canada, should be thankful of our conservative banking and lending practices, amongst other things, that have helped use get through the recession relatively quickly and with less pain than most countries in the industrialized world.

Also posted in Technology – 0 Comments
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