Grey Bruce Home Sales
BEWARE OF BUYER TURN-OFFS
Make sure to address these common turn-offs so buyers don’t run for the door!
When you put your home on the market, it’s important that it appeals to a large cross-section of buyers in order to generate a frenzy of activity.
That said, buying a home is such an emotional decision that even a seemingly small issue can create a bad first impression that will stop buyers in their tracks. Here are a few common buyer turn-offs to be aware of:
Get Out
Make yourself scarce during showings as nothing turns buyers off more than a stalking seller.
Something Fishy
It’s best not to cook fish, bacon or other strong-smelling foods while your home’s on the market.
Dog Gone
Pets and their associated smells will put many buyers off so relocate them before showings and hide their bed, bones, toys, etc.
Killer Clutter
Buyers want to imagine themselves living in your home but most can’t look past other people’s clutter, even if it’s tucked away in closets and cupboards.
Minimal Maintenance
If buyers see that basic items such as leaky faucets and loose hinges haven’t been taken care of, they’ll assume that more serious items, such as the furnace, have also been neglected.
Basement Blues
A damp and dreary basement is a huge turnoff, so do your best to air it out. If it’s unfinished, consider painting it an ivory shade to make it feel more bright and spacious.
Grubby Grime
It’s imperative that your entire home remains thoroughly cleaned, right down to the inside of your microwave. Neglected personal spaces like bathrooms will have buyers running for the door!
When you sell your home, your goal is to get the highest price in the shortest amount of time. Sometimes the best way to do that is to focus on the small stuff. It’s definitely worth the effort and the good news is that depersonalizing, decluttering and thoroughly cleaning your home doesn’t cost a fortune.
OLD OR NEW WHAT’S BEST FOR YOU
There are various pros and cons when it comes to newer vs. older homes.
When you’re out on the hunt for the perfect home in the Grey Bruce area, you’ll be faced with countless decisions. One of the first things to consider is whether you’d prefer a newer home or an older home.
Deciding between a newer home and an older home can be tricky as it comes down to individual preferences and priorities. Here are a few advantages of OLDER HOMES:
- Established Location – Older homes are often located in well-established communities with mature trees. They’re also usually close to popular downtown amenities.
- Classic Character – Older homes usually boast unique architectural features such as crown moulding and stained glass windows.
- Solid Structures – The craftsmanship and quality of materials that went into building homes years ago were usually second to none.
- Outdoor Space – Older homes tend to have larger lots which is important if you value your privacy or wish to add an addition in the future.
Newer homes, on the other hand, have their own unique set of perks. Here are a few advantages of NEWER HOMES:
- Customizable – You’re able to easily customize a brand-new home to suit your style with unique features such as heated floors or granite countertops.
- Functional Features – Newer homes are laid out with functional features such as attached garages, practical storage and ensuite bathrooms.
- Low Maintenance – You’re not likely to encounter any serious issues as everything will be brand new. The home’s exterior will also be much easier to maintain.
- Energy Efficient – Better windows, insulation and overall sealing mean newer homes are more energy efficient which translates into lower monthly utility bills.
You may already have a good idea of what you prefer but try to keep an open mind as you start to become familiar with the pros and cons of older vs. newer. This is one of the biggest investments you’ll ever make so take your time before signing on the dotted line!
GREY BRUCE REAL ESTATE UPDATE January 2023
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!
GREY BRUCE REAL ESTATE UPDATE – November 2022
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!
GREY BRUCE REAL ESTATE UPDATE – October 2022
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!
GREY BRUCE REAL ESTATE UPDATE Sept 2022
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!
GREY BRUCE REAL ESTATE UPDATE, August 2022
Please don’t hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!
GREY BRUCE REAL ESTATE UPDATE
Grey Bruce MLS® home sales set a new full-year record in 2021.
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 155 units in December 2021.
This was down sharply by 23.6% from December 2020.
Home sales were 2.8% above the five-year average and 8.4% above the 10-year average for the month of December.
On an annual basis, home sales totaled a record 3,503 units over the course of 2021. This was a minor increase of 3.8% from the same period in 2020.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.
The overall MLS® HPI composite benchmark price was $534,800 in December 2021, a jump of 30.8% compared to December 2020.
The benchmark price for single-family homes was $535,200, a substantial gain of 30.4% on a year-over-year basis in December.
By comparison, the benchmark price for townhouse/row units was $466,600, an advance of 41.6% compared to a year earlier, while the benchmark apartment price rose by 34% to $384,000, from year-ago levels.
The average price of homes sold in December 2021 was a record $830,982, a jump of 48.5% from December 2020.
The more comprehensive annual average price was $650,944, a significant increase of 35.2% from all of 2020.
The dollar value of all home sales in December 2021 was $128.8 million, a gain of 13.4% from the same month in 2020. This was also a new record for the month of December.
The number of new listings was down sharply by 21.4% from December 2020. There were 114 new residential listings in December 2021.
New listings were 8.4% below the five-year average and 24.7% below the 10-year average for the month of December.
Active residential listings numbered 256 units on the market at the end of December, a substantial decrease of 16.1% from the end of December 2020.
Active listings haven’t been this low in the month of December in more than three decades.
GREY BRUCE REAL ESTATE UPDATE
REALTORS® Association of Grey Bruce Owen Sound MLS® home sales moderate to more normal levels in October.
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 301 units in October 2021. This was a substantial decline of 21% from October 2020.
Home sales were 3.5% below the five-year average and 6.2% above the 10-year average for the month of October.
On a year-to-date basis, home sales totaled 3,095 units over the first 10 months of the year. This was a gain of 6.2% from the same period in 2020.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.
The overall MLS® HPI composite benchmark price was $526,600 in October 2021, an advance of 32% compared to October 2020.
The benchmark price for single-family homes was $527,800, up sharply by 31.8% on a year-over-year basis in October.
By comparison, the benchmark price for townhouse/row units was $448,100, a substantial increase of 38.4% compared to a year earlier, while the benchmark apartment price was $369,400, a jump of 31.4% from year-ago levels.
The average price of homes sold in October 2021 was $657,322, up by 26.1% from October 2020.
The more comprehensive year-to-date average price was $640,909, a substantial increase of 36.4% from the first 10 months of 2020.
The dollar value of all home sales in October 2021 was $197.9 million, a slight reduction of 0.4% from the same month in 2020.
The number of new listings saw a substantial decline of 12.9% from October 2020. There were 291 new residential listings in October 2021. This was the lowest number of new listings added in the month of October in more than 15 years.
New listings were 12.6% below the five-year average and 14.5% below the 10-year average for the month of October.
Active residential listings numbered 452 units on the market at the end of October, a decline of 7% from the end of October 2020. Active listings haven’t been this low in the month of October in more than three decades.
Active listings were 39% below the five-year average and 66.5% below the 10-year average for the month of October.
Months of inventory numbered 1.5 at the end of October 2021, up from the 1.3 months recorded at the end of October 2020 and below the long-run average of 5.2 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.