Wednesday, July 20, 2016

Home sales set new all-time record in June
·         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.

Unit Sales

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.
Newly listed units

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.
Average house price

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.

Sales to New Listings Ratio       


Source: The Canadian Real Estate Association. Monthly Stats Report.

Ontario Real Estate Association

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Ontario Real Estate Association | 99 Duncan Mill Rd. | Don Mills, ON | M3B 1Z2 | 1-800-265-6732

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Friday, July 8, 2016

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