February Newsletter ~ The PEDLAR Team Update

 

Love Is In The Air!   Hope everyone is enjoying their February thus far and hoping Wiarton Willie was correct with his prediction of an early spring! I can't remember many winters in the past when there has been this much of a buzz around our awesome town. From businesses expanding to outdoor patios and stoking the fires to an awesome group of locals maintaining the Old Ausable River for both an awesome hockey rink and our very own Rideau Canal experience right here in Grand Bend! It seems every winter there is more and more fun things to do in this area as more people call this beautiful area HOME. January in the real estate world is seeing record low inventory numbers resulting in top tier sale prices. The traditional thought of wait till spring is becoming a thing of the past as homes being listed right now have zero competition with the pool of buyers remaining constant. Resulting in an incredible sale price regardless of a foot of snow on the ground. These top tier sale prices are being seen in both non-lakefront and lakefronts alike!  It is an incredible time to list so give us a call if you are thinking about selling and we can get you up to speed with all the recent market changes and trends! 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. February is the month of LOVE with Valentine's Day only a week away so ladies and gentleman make sure you make plans in advance! I am sure it will be a busy time for our restaurants so RSVP if possible to put that special touch on the day's plans!  2022 Canadian Luxury Market Report   The RE/MAX 2022 Luxury Market Report examined Canadian luxury real estate trends and developments in freehold and condominium sales over $3 million in Metro Vancouver and the Greater Toronto Area (GTA), and tracked sales over $1 million in 17 additional markets including Victoria, Kelowna, Edmonton, Calgary, Regina, Winnipeg, London, Kitchener-Waterloo, Hamilton, Barrie, Kingston, Ottawa, Halifax-Dartmouth, Moncton, Saint John, Charlottetown and St. John’s. According to an analysis of sales provided by RE/MAX brokers and agents based on local real estate board data, RE/MAX Canada found that 18 of the 19 markets recorded percentage increases in the double and triple digits. The greatest appreciation occurred in smaller urban markets such as Barrie, London, Kitchener-Waterloo and Hamilton, where sales of homes priced over $1 million have climbed 517.8 per cent, 255.1 per cent, 208 per cent and 199.5 per cent respectively. Canada’s largest markets for luxury product – the Greater Toronto Area and Metro Vancouver – experienced increases of 112.8 per cent and 75.8 per cent respectively for homes over the $3-million price point, while transactions of homes priced over $10 million rose a substantial 156 per cent and 167 per cent respectively. The only outlier was Charlottetown, where sales over $1 million declined to four units, down from seven unit sales one year earlier. Locally when looking at million dollar plus sales from Port Franks to Grand Bend to Bayfield along the coastline we saw 33 sales at a million or more. In that same area we saw 63 sales at a million or more in 2021. Meaning we saw a 90% increase locally in million dollar sales from 2020 to 2021!! This is an incredible figure for a smaller market! Read the full article by clicking the link: https://blog.remax.ca/canadian-luxury-real-estate-sales-double-triple-in-some-markets/?fbclid=IwAR0HwxAlSNU_WRes2TAaT1Rm4mcKfnFU8feXHNfh4kpQKW1Di0NJsy5qmqk   Canadian Housing Market Trends To Watch In 2022 The Canadian housing market has been a fixture in media headlines and an ever-present topic of conversation around dinner tables and water coolers by those who continue to work in an office setting in the wake of COVID-19. Early on in the pandemic, some expected a steep decline in home sales and prices in Canada, but nobody could have predicted what actually materialized in the market. Come May 2020, regional real estate markets began their rebound. The spike in demand continued through 2021, resulting in record-breaking price growth and what many would consider to be the hottest year in Canadian real estate. So, what can we expect in 2022? Here are five trends to keep your eye on. 1. Interest rates are expected to rise 2. Canadian real estate prices will likely continue rising 3. Low supply will remain a concern across the Canadian housing market 4. Canadian real estate will be dominated by seller's markets 5. Virtual transactions are the way of the future Read the full article by clicking this link: https://blog.remax.ca/canadian-housing-market-trends-to-watch-in-2022/?fbclid=IwAR1SXRFvgG0DyRVChGqYjTjh2yMGEGBimLDUt-yHYnUni9vx3xr2UmTFTlc   Featured Business Of The Month Grog's Pub & Grill   We wanted to try something new and feature a local business in a further effort to support local! It only makes sense that we feature Grog's Pub & Grill as our first featured business. This restaurant is south of Grand Bend on Highway 21 just outside of Port Franks. Owned and operated by Veronica Brennan making Grog's Pub & Grill a staple in the local restaurant industry. Well known for its pizza and zaney bread while offering a vast array of other options on the menu. Supports many local breweries by offering their products in house. The pandemic was a challenge for any businness owner let alone resturant owners! The staff and management at Grog's Pub & Grill pulled out all the tricks to adapt including a full outside patio space including fires and new menu options to include mulled wine and zaney chili dogs! Garrett & Mark had to try the zaney chili dogs for themselves and they are a must try! This restaurant holds a special place in our hearts because there was about a 16 year gap you could have went in and saw one of the Pedlar's working from Aaron, Mark & Garrett. Grog's Pub & Grill taught us hard work and business skills that we will have with us forever. We strongly suggest every person getting into the service industry at some point in their life because I think we would all have a much deeper respect for those working tirelessly to cater to us when we go out. If you haven't been to Grog's Pub & Grill we strongly suggest trying them out next time you are in town! You won't be disappointed! It's Monday!! Which Balloon Describes Your Motivation The Best? 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

Home Prices Jump in January

 

529 home sales were recorded by the London and St Thomas Association of REALTORS® (LSTAR) via its MLS® system in the first month of 2022, thus marking the Association's second best January for home sales ever. During the same month, the local real estate market saw 669 new listings, out of which 286 were still active at month end.

"Despite the fact that slightly more new listings came on the market, there were only 0.5 months of inventory available at the end of January," said 2022 LSTAR President Randy Pawlowski. "In other words, at the current pace of sales, the entire listing inventory of LSTAR could be liquidated in just two weeks, something that we have never seen before," he explained.

The extraordinary buyers' demand combined with the severe shortage of housing supply continues to favour home sellers and to exacerbate home prices. "At the end of January, LSTAR's overall sales-to-new-listings ratio was 79.1%, 5.9% lower than a year ago, but the LSTAR average home price climbed to $793,222 - almost $90,000 higher than in December 2021 and more than double the value recorded back in January 2019," Pawlowski added.