Understanding Market conditions In the world of real estate, the dynamics of supply and demand play a pivotal role in determining market conditions. Whether you’re a buyer, seller, or investor, understanding the distinctions between a buyer’s market, a seller’s market, and a balanced market is crucial for making informed decisions.  There are several statistics and factors that experts use in determining what state the current market is in, however, let’s explore the key differences between each. Buyer’s Market: In a buyer’s market, the scales tip in favour of buyers due to an abundance o ..read more

Navigating Wellington County’s Real Estate Landscape: Reviewing February 2024 Similar to the milder weather we experienced in February, Wellington County real estate market continued to warm up and remains a balanced market in February, as both unit sales and new listings see similar growth compared to last year.  Year to date numbers so far, show a slight increase in sales volume with end of February at $295 million in sales, up 8% compared to the $273 million in sales for the region at the same time last year.  Unit sales were relatively at par with 366 units sold to date this year ..read more

Navigating Wellington County’s Real Estate Landscape: A warm start for your 2024 Real estate journey Wellington County real estate starts 2024 just as it ended 2023 – in a balanced market. The year-to-date figures for average sales prices are up compared to the previous year, and activity picked up as the year got under way in January.   Looking at the month of January, we saw some impactful changes over the same month in 2023.  January Sales volume was $116 million in sales by the end of the month, up almost 7% compared to January 2023 sales of $109 million for the region.  ..read more

Mastering Home Buyer Viewings When it comes to purchasing a home, the process can be both exciting and overwhelming. Once you have navigated your financing for a new home, one crucial aspect that plays a significant role in making the right decision is the home viewing. This step allows potential buyers to get a firsthand look at the property and assess whether it meets their needs and preferences. To ensure a successful and informative home viewing experience, consider the following tips.  1. Prepare a Checklist: From your purchasing parameters that you previously outlined, you should ha ..read more

Navigating Home Financing: A Concise Guide Achieving the milestone of homeownership is significant, and for many, navigating the financial aspects is a crucial step toward this goal. While the excitement of purchasing a new home may make you eager to start house hunting, it’s essential to prioritize obtaining a mortgage pre-approval before diving into the search for your dream home.  This initial step is vital because, for most individuals, buying a home represents the most substantial investment in their lives, necessitating financing through a mortgage. Repaying this loan becomes the bu ..read more

Reviewing the market in Wellington County at end November 2023 Wellington County real estate remains a balanced market this month despite an increase in unit sales and sales volume.  Average and median sale prices have dipped down from where they were this time last year, however, still quite strong.  The year-to-date figures might be down compared to the previous year, but we are still witnessing that the gap has been slowly narrowing.  At the end of November, the YTD sales volume had experienced an 18.4% dip from 2022 sales volume. YTD sales finished November at $2.158 billion ..read more

Decoding Home Buying: Unveiling the Three Pillars of Purchasing Parameters Buying a home is a significant milestone, and like any major decision, it requires careful consideration and a well-thought-out plan. As a prospective home buyer, identifying your purchasing parameters is crucial in streamlining the search process and finding the home that perfectly fits your needs and lifestyle. There are three fundamental criteria that serve as the foundation for your home-buying journey: location, price, and style/condition. In this blog post, we’ll explore how these pillars, along with your personal ..read more

Reviewing the market in Wellington County at end October 2023 Wellington County real estate remains a balanced market this month due to a continued increase in new listings, and a drop in unit sales and sales volume.  The year-to-date figures might be down compared to the previous year, but we are still witnessing that the gap is narrowing. At the end of October, the YTD sales volume had experienced a 19.4% dip from 2022, comparable to the previous month. YTD sales finished October at $2.025 billion this year down from the 2022 sales volume of $2.513 billion. The unit sales were trending ..read more

Building a Foundation for Your Future Owning a home is a significant milestone for many individuals and families. Two out of three Canadian families own a house – that’s one of the highest rates of home ownership in the world.  And for good reason – Real estate is a GREAT investment! Studies show that homeownership has tremendous benefits for your mindset, finances and family.  It’s not just about having a place to live; it’s about creating a stable and secure foundation for your future. While renting has its advantages, there’s something special about owning a piece of real estate ..read more

Reviewing the market in Wellington County at end of Q3 and September 2023 In recent months, Wellington County’s real estate market has undergone a significant transformation, shifting towards a more balanced state. This transformation can be attributed to a substantial surge in new property listings, coupled with a decline in the number of units sold. However, amidst these market fluctuations, average and median sale prices have managed to hold steady, underscoring the resilience of the local real estate sector. Frances Snider Q3 ended September 2023 Market review Year-to-date figures may sho ..read more