July Home Sales Finish Strong

990 homes exchanged hands in July 2016, making last month the best July ever with the exception of July 2007, which set the all-time record for July with 1,009 sales. "These kinds of numbers, month after month after month, speak to the vibrancy of our current market," explains Stacey Evoy, President of the London and St. Thomas Association of REALTORS®. 807 detached homes sold last month along with 183 condos. Year-to-Date sales are up 8.2%.

Listings, on the other hand, were down 22.6% this month and Active Listings End of Period - or inventory - was down 28.2%. "It's no exaggeration to say that supply is extremely tight right now," says Evoy. "That makes this an incredibly good time to list."

 

The best-selling house style in LSTAR's jurisdiction for July 2016 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos.

The average price for a detached home Year-to-Date stood at $295,769 up 4.8%, while the average price for a condo over the same period stood at $200,292, up 5.5%. The average price of all homes sold through LSTAR's MLS® Year-to-Date stood at $277,660, up 5%.

Home sales set new all-time record in June

Highlights

·         Residential sales up 6.5% in June 2016 compared to a year earlier. ·         New listings in Ontario numbered 37,666 units in June 2016, a decrease of 6.2% compared to last year. ·         The provincial average price of homes in June 2016 rose 13.9% compared to a year earlier. ·         There were just 1.9 months of inventory at the end of June 2016.

 

Unit Sales Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 28,030 units in June 2016, up 6.5% from a year earlier.   Newly Listed Units New listings on the MLS® Systems of real estate boards in Ontario numbered 37,666 units in June 2016, a decrease of 6.2% from a year earlier.     Average House Price The provincial average price for homes sold in June 2016 was a record $544,009, rising 13.9% from a year earlier.     Months of Inventory There were just 1.9 months of inventory at the end of June 2016, down from 2.8 months from the same time one year ago. 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.     View detailed report Source: The Canadian Real Estate Association. Monthly Stats Report. Please do not reply to this email. If you wish to unsubscribe to this mailing list, please click here Ontario Real Estate Association | 99 Duncan Mill Rd. | Don Mills, ON | M3B 1Z2 | 1-800-265-6732 If you have any questions, please contact orearesearch@orea.com

LSTAR's News Release for June 2016

In June 2016 a total of 1,133 homes exchanged hands. That makes last month the best June on record. "Not only are we on a roll, we are on a streak – a winning streak," says Stacey Evoy, President of the London and St Thomas Association of REALTORS® (LSTAR). "April 2016 was the best April ever. May 2016 lost out to May 2007 – the best month in the history of LSTAR – by only 7 units, and June was the best June ever." Sales were up Year-to-Date by 8.6%.

1,612 homes were listed last month, down 9.2%, and Active Listings End of Period – or inventory – was down a significant 24%. "We are still waiting for CMHC to make the final deliberation, but, from where we stand, it sure looks we're starting to move from a balanced market into a seller's market," says Evoy. "Given how tight supply is, if you were thinking of listing your home, now might be a good time to do just that."

So if you are thinking of selling here in the Grand Bend area...NOW is the time to list your home. We have been very busy these past 3 months as well and it is generally slower in July but has not slowed down. Get ready to enjoy summer and find that perfect retreat or cottage, just call RE/MAX!

RE/MAX Office Mural gets a facelift!

 The finished product

 Mark supervising.

 The artist Teresa was happy to get the mural back up!

The mural on the side of our office has been repainted by Teresa Marie and hopefully will be around for another 10 years. It does look better and fresher and we do like supporting our local artist, besides it looks good too!

RE/MAX Recreational Report for 2016

There is lots of information regarding what is happening in the recreational market here in Canada...Canadians of all ages have enjoyed time away from the city at a cabin or cottage. Find out more in our 2016 RE/MAX Recreational Property Report


http://rem.ax/1UUjfUP

99 ANNE ST. THEDFORD, ON N0M2N0

Property Site: http://tour.circlepix.com/home/T4PRCR

Great starter or retirement home in the heart of Thedford with a short walk to the bank, resturants and shopping. Newer windows and siding and the roof has just been redone. The gas fireplace in the living room heats the house and there are new carpets in both bedrooms. The sundeck is off the back door and the covered front porch is a great place to sit and watch the town from. Short drive to the sandy beaches of Lake Huron, Golf courses of Widder Station and Sandhills, Pinery Provincial Park and only 30 minutes to north London.

Bedrooms: 2

Bathrooms: 1.00

Price: $69,000

For more information about this property, please contact GARRETT PEDLAR at (519) 238-5700 or remaxgarrett@hay.net. You can also text 3690428 to 67299.

See more listings at: www.grandbendrealestate.com

MLS ID: 585546

8862 TIMBERWOOD TL LAMBTON SHORES, ON N0M1T0

Property Site: http://tour.circlepix.com/home/H9WTNK

Surrounded by nature and minutes to the Pinery Provincial Park this 3 bedroom, 2 bath ranch has a fenced in back yard, double garage, spacious 30 x 20 sundeck and has been freshly painted throughout. Close to the sandy beaches of Lake Huron and just south of Grand Bend this home features cathedral ceilings and a gas fireplace in the great room, laminate floors in the bedrooms and tile floors in the bathrooms and hallways. The custom built kitchen is very spacious and features a large island, stove top gas range, wall oven with separate warming oven and an eating area overlooking the back yard and sundeck from the bay window. The Master bedroom has lots of natural light, cathedral ceilings, great closet space and a 3 piece ensuite bath. The oversized double garage has room for cars and a work space with the unfinished basement just waiting for your ideas.

Bedrooms: 3

Bathrooms: 3.00

Price: $339,000

For more information about this property, please contact DOUG PEDLAR at (519) 238-5700 or remaxdoug@hay.net. You can also text 3681457 to 67299.

See more listings at: http://www.grandbendrealestate.com

MLS ID: 585268