Port Elgin Real Estate, Southampton (Saugeen Shores), Paisley, Tiverton, & Kincardine
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Port Elgin and Area Real Estate News
Updates on the Port Elgin, Southampton (Saugeen Shores), Paisley, Tiverton, & Kincardine real estate market, home buyer & seller tips and general real estate advice.
Grey Bruce home sales tie last year’s November record
Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound were unchanged on a year-over-year basis in November.
Home sales numbered 200 units in November 2016. This was a record for the month – tied with last November.
On a year-to-date basis home sales totaled 2,892 units, running 17.4 per cent ahead of the first 11 months of 2015. With just one month to go this year, 2016 has already officially set a new annual sales record.
The average price of homes sold in November 2016 was $257,662, up 0.1 per cent year-over-year. The more representative year-to-date average price was $259,081, rising 5.8 per cent year-over-year.
New residential listings on the Association’s MLS® System numbered 232 units in November 2016. This was a decrease of 3.3 per cent compared to November 2015. New supply has struggled to keep up with strong demand, which has led to historically tight market conditions.
Active residential listings totaled 966 units at the end of November, down 38.6 per cent from the same time last year. This was the lowest level for this time of year in over a decade.
The number of months of inventory stood at 4.8 at the end of November, less than half the 8.6 months recorded at the end of November 2015 and the lowest level of any November on record. 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 dollar value of all home sales in November was $51.5 million, up 0.1 per cent on a year-over-year basis. Sales of all types of properties numbered 251 units in November 2016, up 0.8 per cent from the previous November. The total value of all properties sold in November 2016 was $70.9 million, an increase of 12.1 per cent from a year earlier.
I am pleased to announce that beginning January 30th, 2017 we will be pre-selling Phase One of ‘The Westlinks’ (at Piper’s Glen Golf Club, Port Elgin).
Saugeen Shores’ first ‘Lifestyle’ community boasting both bungalow townhouse condos as well as single family homes.
In Phase One we will be accepting reservations for 46 bungalow townhouse condominiums, starting at $329,000 (HST may be applicable), and 16 freehold single family custom built homes. The condos will offer a variety of floor plans to choose from including loft options. All units include a full basement and attached garage. The lots for the custom homes will feature green space backing onto Mill Creek or onto the golf course. Services include municipal water, sewer and natural gas.
All owners will have a membership granting access to golf, tennis, pickleball, a fitness facility and trails nearby. It will be a unique lifestyle community located in a picturesque setting just on the edge of Port Elgin.
Visit us on January 30, 2017 when the showroom will be open at the RE/MAX office located in Port Elgin at 645 Goderich Street. Ground breaking will take place in the fall of 2017 with move in dates late winter/early spring of 2018.
To make a reservation or for more details contact me or visit our showroom.
Grey Bruce home sales smash previous October record!
- Residential sales activity recorded through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound posted another double-digit year-over-year gain in October 2016.
- Home sales numbered 277 units in October 2016. This was a new record for the month, beating the previous October record set in 2009 by 24.8 per cent. It was an increase of 28.2 per cent from last October.
- On a year-to-date basis home sales totalled 2,692 units, running 18.9 per cent ahead of the first ten months of 2015. With just two months to go this year, 2016 has already officially set a new annual sales record.
- The average price of homes sold in October 2016 was $262,281, up 7.3 per cent on a year-over-year basis. On a year-to-date basis the average price of all home sales over the first ten months of 2016 was $259,187, rising 6.4 per cent.
- New residential listings on the Association’s MLS® System numbered 265 units in October 2016. This was a decrease of 16.1 per cent compared to October 2015. New supply has struggled to keep up with strong demand, which has led to historically tight market conditions.
- Active residential listings totalled 1,129 units at the end of October, down 39.5 per cent from the same time last year. This was the lowest level for this time of year in over a decade.
- The number of months of inventory stood at 4.1 at the end of October, less than half the 8.6 months recorded at the end of October 2015 and well below the long-run average for this time of the year. 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 dollar value of all home sales in October was $72.7 million, up 37.6 per cent on a year-over-year basis. Sales of all types of properties numbered 354 units in October 2016, up 28.7 per cent from the previous October. The total value of all properties sold in October 2016 was $98.1 million, an increase of 46.2 per cent from a year earlier.
It’s important to carefully stage your home during the holidays.
Decorating your Port Elgin home for the holidays is a festive tradition but it’s important that buyers are still able to imagine themselves living there. Here are a few seasonal staging tips to keep in mind:
- Curb Appeal Counts – A few lights and a tasteful wreath on the front door will elegantly accent your home. Remember to also display some photos of what you yard looks like during the summer months.
- First Impressions – Hallways are usually quite cramped and dark so remove any unnecessary items, ensure you have adequate lighting and keep decorations to a minimum.
- Deck the Halls (a little) – Too many decorations will make your home appear small and cluttered. Also, never decorate over architectural selling features.
- Bows & Bells – Put away wrapping paper, tape, ribbons, etc. before showings but don’t just stuff them in your closets as buyers usually peek in cupboards to see how spacious they are.
- Holiday Cheer – Seasonal treats such as hot apple cider and holiday cookies will give your home a welcoming feel. It may even encourage buyers to stick around a little longer!
Although there are fewer buyers during the holiday season, they’re usually more serious plus there aren’t as many listings to compete with. Your Port Elgin home will show beautifully if you use decorations to draw attention to its best features. Just keep the decorations to a minimum so buyers aren’t overwhelmed, distracted or turned off.