Saturday, January 12, 2019

Home sales remain steady in December

London and St. Thomas Association of REALTORS® (LSTAR) announced 439 homes were sold in December, up 2.1% over December 2017 and right on par with the 10-year average. The number of home resales for the year was 9,799, down 13.3% compared to 2017, which set a record year for residential real estate.

"One of the trends that stood out in December was the sales-to-new listings ratio, which was 108.1% across the region," said Jeff Nethercott, 2018 LSTAR President. "It's a statistic the Canadian Real Estate Association (CREA) says represents conditions in the marketplace that favour sellers (a ratio between 40% and 60% is generally consistent with a balanced market). In London, the sales-to-new listings ratio was 119.7%, while in St. Thomas it was 100.0%."


December also saw average home sales price make steady gains in LSTAR's jurisdiction. In London, the average sales price was $375,782, up 13.4% from last December.

"Overall, it was a very solid year for home resales in London and St. Thomas," Nethercott said." The activity in 2018 performed well above the 10-year average, despite the record low inventory levels seen in the marketplace the entire year. As we kick off 2019, I believe home sales will continue to be strong and be a driving force to the local economy."

Tuesday, January 8, 2019

January Newsletter ~ The PEDLAR Team Update


Happy New Year & Welcome to 2019


We hope everyone enjoyed their holidays over Christmas and New Years. Now it is back to reality and some are just getting back to work this week so good luck to everyone going back to work. The PEDLAR Team hopes everyone has a fantastic 2019!! We are happy to help anybody looking to buy or sell in this new year!!


RE/MAX 2019 Housing Market Outlook


Modest price increases are expected in 2019, as the RE/MAX 2019 Housing Market Outlook estimates the average sales price to increase by 1.7 per cent. Housing markets across the country have stabilized in 2018, after the unprecedented increases in average sales price that many markets experienced in 2017. However, there continue to be some outliers in 2018 average sales price gains, particularly in areas outside of the main city centres, such as Chilliwack (+ 13%), Windsor (+13%), London (+17%) and Charlottetown (+11%).

It is anticipated that the market will continue to stabilize, as Canadians will start to feel the pinch of higher interest rates as they move forward with their home-buying plans in 2019. A recent survey revealed almost one-third (31 per cent) of Canadians said higher interest rates have not affected their ability to get an affordable mortgage thus far.

Read the full article by clicking the link: https://blog.remax.ca/2019-remax-housing-market-outlook/#1544030308670-7225c5bf-5a2a

Stay Informed With
Grand Bend's Bridge Project

Be informed about what is going on with the bridge project by checking out lambton shores capital projects page and find links to all the important information for the public. Find link below to website.

Capital Plan addresses the annual rehabilitation requirements for the Municipality's various operations, structures, roadways and infrastructure. Infrastructure planning is an on-going and complex process requiring the coordination and efforts of a wide range of staff.
Capital projects support growth, maintain and upgrade existing systems. The Community Services Department has recently undertaken various Master Plan studies to assist in the decision making process.

Click link to be redirected to Lambton Shores web page: https://www.lambtonshores.ca/en/invest-and-build/capital-projects.aspx?fbclid=IwAR2A_Yc1SozYI9c0swrtiyjIhmW8sa4dXVCUfZobiqALz-P2hCTufk_AYr4#Class-Environmental-Assessment-to-Address-Congestion-Along-the-Ontario-Street-Corridor---Grand-Bend-

What's Going On In
Lambton Shores in January

It's always good to know what is going on in our exciting municipality of Lambton Shores.

This month there is exciting hockey to watch over in thedford and Forest as teams from around North America come to the area to compete in the International Silver Stick Tournament. Peewee and Midget divisions play on January 11th-13th weekend. Atom and Bantam divisions play January 25th-27th.

Another notable event happening in Lambton Shores this month is the 7th Annual Forest Film Festival on January 23rd.

Stay up to date on events happening in Lambton Shores by visiting the community calendar link on Lambton Shores website. Here is the link to community calendar page: https://calendar.lambtonshores.ca/default/Month 

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.
 
Forest Bungalow
Fully Renovated
Very Efficient Home
Attached Single Garage
Full Finished Basement
3 Beds 1+1 Bath
$279,900
Huron Woods
Executive Home Backing Onto Pinery Park
ICF Construction
In-Floor Heating Throughout
5+1 Beds 3+1 Bath
$1,150,000
Downtown
Grand Bend
Built In 2008
Backyard Oasis
Full Finished Basement
3 Beds 2+1 Bath
$499,900
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
 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