Wednesday, December 7, 2022

Weekly Update ~ SHOP LOCAL this holiday Season!

Local Housing Market's Correction Continues

 451 residential properties exchanged hands last month through the Multiple Listing Service® (MLS®) System of the London and St. Thomas Association of REALTORS® (LSTAR), 44% less than in November 2021. LSTAR Members' home sales included 336 single family homes, 64 condo townhouses, and 36 apartments - all significantly down from a year ago.

"In the last two years, the local housing market's frenzy was artificially fueled by the socio-economic climate of the pandemic. Now, that the socio-economic conditions are completely different, the local housing market is in correction mode," said Randy Pawlowski, 2022 LSTAR President. "The market is especially affected  by the Bank of Canada's interest rate hikes, which intensify buyer reluctance and weaken people's purchasing power," he added.

While residential transactions were at their lowest point in the last decade, the number of new listings climbed to 875 in November, a new record high for the eleventh month of the year. This increased the level of the local housing inventory, which sits now at 3.3 months.

"The housing demand is still high in our area, and with the increased levels of inventory, local Buyers have now more choices and time to shop for new homes. However, the uncertain economic conditions are keeping many prospective Buyers on the sidelines," Pawlowski observed.

Compared to a year ago, the average home price decreased, but remained higher than the figures seen in 2020 and before. LSTAR's overall average home price was $615,247 in November, 7.8% less than a year ago, but 13.8% higher than in November 2020. On the other hand, the composite MLS® Home Price Index (HPI) Benchmark Price was $575,500 last month, 10% down from last year, and also 9.8% lower than in November 2020.

Thursday, December 1, 2022

December Newsletter ~ It's Beginning To Feel A Lot Like Christmas


Happy Holidays From The PEDLAR Team!

It's Beginning To Feel A
Lot Like Christmas!


Hope this newsletter finds you well as we went through a cold snap with snow for a couple weeks of November and it started to feel like this was going to be a long cold winter. Thankfully some warmer weather prevailed and the snow went away so everyone had a second chance to get those jobs done around the exterior of their home to be prepared for the snow to stay!

We had lots of fun at the local parades last weekend with The PEDLAR Team Re/MAX float making it to both the Grand Bend and Parkhill parades! Thanks a bunch to our local volunteer groups for putting these on and to those who came out to watch!

Next up is getting ready for Christmas! We are lucky enough to have a couple great spots for getting ready for the holidays. The Christmas Wonderland at Green Bucks Country Christmas Store is entering its second year of being open and they just opened back up mid October. Another great spot to go check out is at Westland Greenhouse Christmas Store! Both these are just south of Grand Bend and will definitely give you lots of great items to having your house looking perfect these holidays.

If you weren't able to make a Christmas Parade yet there are still a couple local ones left to go!

Exeter Christmas Parade                  December 3
Ailsa Craig Christmas Parade           December 10

We hope everybody enjoys their holidays with family and friends! Merry Christmas from our family to yours!

We love to talk real estate so call us anytime at 519-238-5700!

In Partnership With
Green Bucks Country Christmas Store 

We filled the truck up!! Huge thank you to everyone that brought in non-perishable items for our food drive or contributed with a money donation. As you can see in the picture above we had lots of items come in that were all brought to the Ailsa Craig food bank. We will be drawing the winner of the $200 gift certificate tomorrow so watch out for that announcement on our social media pages.

Bank Of Canada Increase Expected
For December 7


The Bank of Canada brought its interest rate to 3.75% in November and the next decision comes December 7. It is expected that the Bank of Canada will increase the rates by either 25 or 50 basis points. There are many differing opinions of economists for either of those options so it is tough to say at this time which way things will go. This article below says that the Canadian bond market is currently pricing in an 88% chance of a 25 basis point increase but many bank economists expect a 50 basis point increase. We will have to wait and see on December 7.

Read the full article by clicking this link:

Re/MAX Canada Report:
Outlook For 2023 Housing Market


Re/MAX Canada just published their report on what to expect in the Canadian housing market in 2023. Over 60% of broker of records across Canada expect a balanced market in 2023. The Canadian average for the market is estimated to decrease by 3.3% over 2023 which is essentially a levelling of prices over the year ahead. The report noted areas like Greater Vancouver Area and Greater Toronto Area expecting to see larger decrease like 10-15%. Interestingly though the larger cities in Atlantic Canada like Halifax and St. Johns are predicting they will see increases of 10-15%. Underlying all of these stats is the pride of home ownership that is still very high in Canada with over 70% of Canadians saying that real estate is the best long-term investment and that's very important. Combine this with the overall huge housing shortage our country is seeing makes for a bright future in the world of owning a home and watching that home grow value over time.

Read the full report by clicking the link:
And more notable the Grand Bend 2023 Outlook Report:

Canada's Housing Market Is
Correcting, Not Crashing

This article from Benjamin Tal, CIBC Deputy Chief Economist, say that the Canadian housing market is in correcting mode and not a crash. He portrays the situation as a simple reallocations of activity over time. Tal went on to say that, "We basically borrowed activity from the future because interest rates were low.". Tal goes on to say that there is a difference between the current market correction and previous cycles, namely the availability of supply. Tal said there is no panic in the housing market because there are no major issues in the labour market as of yet. Very interesting article from a very reputable economist and you should read the full article below is the link.

Click the link to check their website out:

Featured Business Of The Month
The Garden Gate Gifts & Florals
55 Main Street East, Grand Bend

This month we are featuring The Garden Gate Gifts & Florals shop that has all your unique gift ideas wrapped up into one store! Their floral arrangements are spectacular and the staff are very accommodating to your particular needs. Being a staple business in our local economy for many years now! Another amazing business that is open year round and changing the store up to fit the holiday we find ourselves in. Head over to the store and see all your new favourite Christmas decorative inspirations! It is sure to impress with all the work that Shannon and the team have put into it!

Some words from Shannon Ryan (Owner/Certified Floral Designer)
"The Garden Gate gifts and florals will be celebrating 16 years of business in Grand Bend coming up in March. We are a full service flower shop providing beautiful custom floral designs for everyday and events including weddings, parties, holidays and funeral services. We also offer floral delivery service to Grand Bend and the surrounding area. Our store is presently a holiday shopping destination with full curated displays reflecting traditional and contemporary holiday trends.”

You'll will have to make this store a mandatory stop for your Christmas shopping!

Click the link to check their website out:

13 Creekside Place, Grand Bend
Listed at $749,900

Welcome to 13 Creekside Place, in the recently built subdivision of Village Crossing, in Grand Bend just steps from all the amenities and sandy beaches of Lake Huron. This nearly 1,600 square foot bungalow offers three bedrooms and two bathrooms on the main floor with a full unfinished lower level. Great curb appeal with paver stone driveway to single attached garage and covered front porch. Low maintenance exterior with hardy board siding. Spacious entrance foyer leading into great room with engineered hardwood flooring throughout living space. Kitchen offers lots of cabinetry and large island with eat-up bar. Dining area allows space for the whole family. Inviting living room with gas fireplace and patio door to covered back deck. Primary bedroom with walk-in closet and five piece ensuite. Ensuite offers lots of space for a double vanity, glass shower and tub. Main floor allows for another two bedrooms and full four piece bathroom. Lower level offers endless possibilities being totally unfinished with great potential for more bedrooms, bathroom and living space. Home has lots of windows for lots of natural light throughout. Located on a quiet street with new homes surrounding and steps from the sandy shores of Lake Huron.

Click the link to watch the virtual tour:

384 Augusta Crescent, Grand Bend
Listed at $350,000

Site Built bungalow in the gated land lease community of Grand Cove Estates. Close to all the amenities of Grand Bend and beaches of Lake Huron. Great location at the back section of the park with green space behind you and a partial view of the Pond across the road. Great curb appeal with the landscaped gardens, well cared for vinyl exterior, updated steel roof and double car drive. Inside you have a great design with the Norfolk 11 plan that features an added bonus room at the back. Large living room with bay window and electric fireplace. Updated kitchen with separate eating area. Laminate flooring throughout the main part of the home. The den (added room) at the back overlooks the green space with patio doors to a large partially covered patio. 4 piece bathroom near the bedrooms with a guest room for family and friends to visit. Spacious master bedroom suite with walk in closet and 2 pc ensuite. Move in and enjoy all the amenities of Grand Cove. Grand Cove Estates is a land lease community located in the heart of Grand Bend. Grand Cove Estates has activities for everybody from the heated salt water pool, tennis courts, wood working shop, garden plots, lawn bowling, nature trails and so much more. All this and your only a short walk to downtown Grand Bend and the sandy beaches of Lake Huron with the world famous sunsets. Come view this home today and enjoy life in Grand Bend! 
Click the link to watch the virtual tour:

423 Main Street S, Exeter
Listed at $365,000

Charming yellow brick multi use building in downtown Exeter. Store front with Main St access creates great visibility for a any retail business with 600 sqft of space. Front and rear entrance, 2 pc bath, exposed brick walls, ceramic tile floors, 10' ceilings and large display window. On the upper floor you have a 1 bedroom 1 bathroom apartment that was just renovated this summer. Featuring exposed brick walls, modern kitchen and bathroom, Ash hardwood floors and spacious living room overlooking Main ST. Lots of natural light throughout the apartment. Updated roof and windows in the last 10 years. Property currently rented with business on month to month lease and upstairs apartment rented on 1 year lease. Building and land only for sale.

Click the link to watch the virtual tour:

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:

Get Your 2023 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:

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:

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:

Huron County:

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:
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
The Pedlar Team Facebook
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The Pedlar Team YouTube
The Pedlar Team Twitter
 Doug Pedlar      Mark Pedlar     Garrett Pedlar 
    Broker of Record                         Broker                        Sales Representative
519-902-4099    519-670-0746     519-872-0910 

December Newsletter ~ Happy Holidays From The PEDLAR Team