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 post below-average March.
Residential sales activity in the geographical area covered by the REALTORS® Association of Grey Bruce Owen Sound totaled 172 units in March 2019. This was a decrease of 11.3% from March 2018.
On a year-to-date basis, home sales totalled 422 units over the first three months of the year, down a similar 10% from the same period in 2018.
The average price of homes sold in March 2019 was $353,235, up 5.3% from March 2018. The more comprehensive year-to-date average price was $353,681, rising 7.6% from the first three months of 2018.
New residential listings in the region numbered 308 units in March 2019, falling 21.8% on a year-over-year basis. The last time the supply of new listings was lower in the month of March was 1993.
Overall supply also stands near record lows. Active residential listings numbered 699 units at the end of March, down 2.2% from the end of March 2018. You have to go back to 1989 to find a lower reading.
Months of inventory numbered 4.1 at the end of March 2019, up a bit from the 3.7 months recorded at the end of March 2018 but still less than half the long-run average of 9.8 months for this time of 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 March 2019 was $60.8 million, down 6.7% from the same month in 2018. Sales of all property types numbered 234 units in March 2019, down 9.7% from March 2018. The total value of all properties sold was $81.4 million, up 6.8% from March 2018.
The junk in your attic may be a treasure trove of opportunities!
Upcycling is a popular trend where existing items that would normally make their way to the curb are instead transformed into something useful and stylish. Here are a few creative ideas to help inspire you:
- Tub Chair – Cut an old claw foot tub in half and add a few seating pads for a very unique set of chairs.
- Bike Sink – Transform an old bicycle into a bike sink and use the basket for towels, plants or toiletries.
- Stylish Shelf – Turn an old ladder into a cool spot to hang towels or fix it to the ceiling and hang photos or lanterns from the rungs.
- Picture Perfect – Love an old painting but don’t have anywhere to hang it? Just add some handles to create a unique serving tray!
- Door Designs – Salvaged doors can be upcycled into tables, headboards or a storage bench. You can even create a folding screen divider by fixing a few of them together.
The opportunities for creative upcycling are endless, so give your old items a new lease on life while adding your own twist to them. Not only will you save money but you’ll also help the environment while injecting some fresh new creativity into your space!
Check out the latest and greatest in household smart gadgetry!
Every year, the Consumer Electronics Show in Las Vegas introduces new and exciting technology. Here are a few of the latest innovations in smart home gadgetry:
- Smart Plank – This smart home hub looks like a smooth and simple piece of wood but it has an integrated touch sensor that will help control your home.
- TV Be Gone – Now you can literally not watch TV as the latest models will magically disappear and turn into an attractive piece of furniture when not in use.
- Sleep Easy – There’s a new headband for those not getting enough shut-eye. Sensors detect when you enter a deep sleep cycle and then play sounds to help you remain there.
These are just a few of the latest technologies to hit the market. As homes get smarter and more connected, homeowners will continue to benefit by enjoying unprecedented levels of convenience and comfort.
Will the housing market cool down, level out or gain steam?
No one can say for sure what’s around the corner when it comes to the real estate market but there are steps you can take ahead of time to prepare yourself. If you’re currently considering home ownership, here are a few points to consider:
- Planning Makes Perfect – It’s important to plan ahead so research local amenities and consider features like parks and schools if you’re planning to start a family.
- Know the Numbers – Ensure you’re financially ready to buy a home. There are many other costs aside from mortgage payments so know what you’re getting yourself into.
- Stick to Your Budget – Examine your individual needs so that you don’t overextend yourself financially. Make a list of the features that fit your family’s lifestyle before looking at homes.
- Go Pro – Have a real estate agent help guide you through the entire process. Start with a market evaluation of homes that have recently sold in your area along with an analysis of community trends.
- Think Straight – It’s normal for home buyers to experience a full range of emotions during the complex real estate rollercoaster ride. House hunting should be fun though, so don’t take things personally or let your emotions rule every decision.
- Inspect the Unexpected – Just because you’ve checked over the house thoroughly doesn’t mean all’s well behind the scenes. Making an offer conditional on a home inspection will help you avoid any nasty, expensive surprises.
An uncertain real estate market can make it difficult to know whether you should hold off purchasing a home in case prices fall, or jump right in before prices skyrocket. One thing’s for sure though. The time to buy is when your budget matches your needs, so always consider your personal circumstances before making a decision. Please don’t hesitate to get in touch if you ever have any questions!