2021 - A Record Year for Condo and Apartment Sales

With 530 homes exchanging hands last month, LSTAR REALTORS® wrapped up 2021 by recording their second best December for residential transactions since the Association started tracking data, back in 1978. This brings the total number of homes sold last year in LSTAR's jurisdiction to 10,964.

"2021 proved to be a very strong year for us, with the overall number of home sales approaching the 11,000 mark," said 2021 LSTAR President Jack Lane. "The COVID-19 pandemic, which forced numerous people to work from home for most of this year, continued to fuel our local housing market, bringing the inventory levels to historic lows and pushing the home prices up."

At the end of December 2021, there were only 175 active listings on the Association's MLS® system, with only 0.3 months of housing inventory left. The Aggregate Composite Benchmark price for the entire London-St. Thomas area was $657,600 - 37.5% higher than in December 2020, while the overall LSTAR average price sat at $707,219 - up 27.6% from a year ago.

"In 2021, the single-family home remained the favourite of the local home buyers, with 8,125 units sold year-to-date. However, 2021 was a record year for both condo and apartment sales, thanks to the 1,364 condo townhouses and 1,009 apartments that traded hands during the last twelve months," Lane said.

Year End & Q4 2021 Market Report

 

Year End & Q4 2021 Market Report  All in all, it was a good year in Real Estate with price increases across the board. Lakefronts along the lake north of Grand Bend had similar listing and sales number year over year whereas second rows in this geographic area saw double the number of listings this year vs last with only 2 more sales year over year. You also saw the most significant price increase north of Grand Bend along the lake, nearly 76%, due to more higher end homes or fixed up cottages sell rather than the more traditional cottage seen in years past. In Grand Bend listing inventory was down year over year but up this quarter while sales were down both on the year and the quarter. A strong market with high demand and limited inventory lead to a 40% increase in value. In the Port Franks market, it was a stable market with slightly more inventory on the market this year over last year with sales remaining just under 2020 numbers with a 35% increase in value year over year. If your thinking about selling, give us a call and lets get your home ready for the spring market! Call The PEDLAR Team today for all your real estate needs at 519-238-5700! Happy New Year everyone! Social Media   Have a great day everyone and don't forget to check out our social media sites like youtube, facebook, twitter and our website to stay up to date on all the latest listings. You can find the links to these various social media outlets above our information below. See the benefits of using a high quality drone and camera for videos and pictures to add content to each listing. GIVE US A LIKE ON OUR FACEBOOK PAGE BY CLICKING THE ICON BELOW! We love to hear about your experience with The PEDLAR Team so please feel free to head to our facebook page and leave a review. Click the link to leave a review: https://www.facebook.com/thepedlarteam/reviews/

If you or any of your friends and family are looking to buy or sell make sure to call us first! Referrals are the greatest compliment Check our website out by clicking the link below http://www.grandbendrealestate.com  Doug Pedlar      Mark Pedlar     Garrett Pedlar      Broker of Record                         Broker                        Sales Representative   519-902-4099    519-670-0746     519-872-0910  remaxdoug@hay.net           remaxmark@hay.net          remaxgarrett@hay.net

The Pedlar Team Update ~ January Newsletter

 

Welcome To 2022!   Hope the holidays treated everyone well and Santa brought a couple things from your wish list! It was a green Christmas around Grand Bend for a change but old man winter reminded us he still exists with some snowfall over the past few days. We want to give a huge thank you to all our clients that put their trust in us to assist them in buying or selling this past year! We take great pride in helping clients achieve their goals and dreams! Doug & Jeannette got lots of hugs over the holidays from their three grandkids, Chesney, Chloe & Charlotte! Check them out below. As you may all know it seems the start of 2022 looks a lot like 2021 with the restrictions from government being put back in place. Today is the last day for indoor dining so to give our fantastic entrepreneurs a little boost I would encourage you to go eat at your local favourite spot so that they know they are appreciated. Dine in or take out ... we need to support our local restaurants and the fantastic team of employees that work in these establishments! We are never far from our phones if you want to discuss the market so feel free to call us anytime at 519-238-5700. Bank Of Canada Projects Mid-2022 Interest Rate Increase The Bank Of Canada  has announced that it is maintaining its record-low key interest rate at 0.25%, where it has remained since March of 2020. The global economic recovery continues following the impacts of COVID-19, being led by consumption. However, some regions are starting to see a moderation following a strong Q3. Inflation rates continue to rise in many countries, including Canada, which the Bank attributed to high demand for goods coupled with ongoing supply-chain issues. The Bank said it expects elevated inflation to persist through the first half of 2022, and is anticipated to ease back to two per cent in the latter half of the year. The new Omicron variant has resulted in stricter travel restrictions in many countries, a drop in oil prices, and renewed sentiments of uncertainty. The Bank reiterated its expectation for an interest rate hike in the second or third quarter of 2022. Read the full article by clicking the link: https://blog.remax.ca/bank-of-canada-projects-mid-2022-interest-rate-hike/?fbclid=IwAR3fIV07uCXGJvoJSgGiB1K2sxmw4xKo96qP39JL0FEKEKIFg_y_XtRL1bk   New Ontario Government Policies To Look Into For Your Benefit The Ontario Government has come out with a couple new policies that can help a couple different groups of people. The first one is Ontario's new staycation tax credit. The temporary Ontario Staycation Tax Credit for 2022 aims to encourage Ontario families to explore the province, while helping the tourism and hospitality sectors recover from the financial impacts of the COVID-19covid 19 pandemic. Ontario residents can claim 20% of their eligible 2022 accommodation expenses, for example, for a stay at a hotel, cottage or campground, when filing their personal Income Tax and Benefit Return for 2022. You can claim eligible expenses of up to $1,000 as an individual or $2,000 if you have a spouse, common-law partner or eligible children, to get back up to $200 as an individual or $400 as a family. The credit will provide an estimated $270 million in support to about 1.85 million Ontario families. Read the full details by clicking this link: https://www.ontario.ca/page/ontario-staycation-tax-credit The second one is a rebate program for the most vulnerable of business due to the pandemic. Through the new Ontario Business Costs Rebate Program, eligible businesses will receive rebate payments equivalent to 50 per cent of the property tax and energy costs they incur while subject to the current capacity limits. This will provide support to businesses that are expected to be most impacted financially by the requirement to reduce capacity to 50 per cent. Examples of businesses that will be eligible for the Ontario Business Costs Rebate Program include restaurants, smaller retail stores and gyms. A full list of eligible business types will be made available through a program guide in mid-January 2022. Read the full details by clicking this link: https://news.ontario.ca/en/release/1001372/ontario-launches-new-supports-for-businesses   9 Features To Look For In a Family Friendly Home   Deciding to start a family is an exciting time — and so is searching for a new family friendly home. Look for the following features when home hunting, to ensure your new digs accommodate all its residents, big and small. Kid Corral Family Floor Parks & Rec Fenced In Bath Path Paint By Number Bedroom Eyes Step To It Childhood Memories To dive in to what each of these exactly mean click this link: https://blog.remax.ca/9-family-home-features/?fbclid=IwAR39MfVwq6Qjoa8rfO74KmA6gTpRdN0gaKtYkoEl9yW6SnbPY_MCz9WFM38 Ontario Regional Referral Team Looking to move outside of the area and not sure who to call? As always call The PEDLAR Team with any of your real estate needs! We are closely connected with a group of realtors that cover Southwestern Ontario. Along with our involvement in the Re/MAX community we are sure to line you up with a trusted knowledgeable real estate agent to make your plans a reality anywhere in North America, or the world for that matter because Re/MAX is global! Check out the website for ORRT and learn more about the group: https://www.orrt.ca/ Get Your 2022 Grand Bend Locals Card!   Support Local With Your GRAND BEND Locals Card It is the hope that this card will encourage you to choose local businesses, more often. They've been quietly adding new businesses, new offers and TWICE as many draws! As lovers of Grand Bend, we need to stick together and keep our businesses OPEN. These Local businesses who are unable to provide specific offers, have stepped up to help provide MORE CARDHOLDER Draws! More Draws = More Winning & More Local Spending. Let's support them, for all they do to support our community.   Click the link to see more information: https://grandbendlocals.com/ New To Lambton Shores? The municipality of Lambton Shores is starting a new initiative of making municipality information easier to find out. Check the link out and see what things you didn't know about this awesome municipality.  Click the link: https://www.lambtonshores.ca/en/living-here/new-to-lambton-shores.aspx?platform=hootsuite   Lambton County & Huron County Business Map   A new initiative started by the Lambton County & Huron County Economic Development groups was uploaded recently. They each created a virtual mapping website to show all the businesses and store fronts across the counties. These were created as an idea during COVID and will become a great tool for locals and tourists alike after COVID. Any business can be posted in the respective area if you go to the proper link below for each county.  Lambton County: http://www.shoplambton.ca Huron County: https://huron.maps.arcgis.com/apps/webappviewer/index.html?id=dc52efb9fee04e748431bb74c8335c9f Social Media   Have a great day everyone and don't forget to check out our social media sites like youtube, facebook, twitter and our website to stay up to date on all the latest listings. You can find the links to these various social media outlets above our information below. See the benefits of using a high quality drone and camera for videos and pictures to add content to each listing. GIVE US A LIKE ON OUR FACEBOOK PAGE BY CLICKING THE ICON BELOW! We love to hear about your experience with The PEDLAR Team so please feel free to head to our facebook page and leave a review. Click the link to leave a review: https://www.facebook.com/thepedlarteam/reviews/

If you or any of your friends and family are looking to buy or sell make sure to call us first! Referrals are the greatest compliment Check our website out by clicking the link below http://www.grandbendrealestate.com  Doug Pedlar      Mark Pedlar     Garrett Pedlar      Broker of Record                         Broker                        Sales Representative   519-902-4099    519-670-0746     519-872-0910  remaxdoug@hay.net           remaxmark@hay.net          remaxgarrett@hay.net