Thursday, April 6, 2023

Local Housing Market Tightens

In March 2023, only 1,079 new residential listings were posted on the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). This makes last month the March with the third lowest number of new listings in the last decade.

The number of residential transactions for the month stood at 685, thus marking the lowest number of home sales seen by LSTAR in March since 2014. The overall sales-to-new listings ratio for the entire jurisdiction of LSTAR jumped to 63.5%, and the inventory fell from 3 months in February to only 2 in March.

"The market downturn caused by the rising borrowing costs has created a window of opportunity for buyers to enter the market at a potentially lower price point, but the lack of inventory remains a concern. The coming months will be crucial in determining if the current trend continues, or if there will be a rebound in the market," said 2023 LSTAR President Adam Miller.

"Despite the ongoing economic uncertainty, the figures recorded by LSTAR in March indicate a tightening of the local real estate market, which is also reflected in the average and HPI benchmark prices observed across the region," Miller added.

In March 2023, the average home price and composite MLS® Home Price Index (HPI) Benchmark Price in the jurisdiction of LSTAR were significantly lower compared to the same month in the previous year, by 20.6% and 23.4% respectively. However, these figures were notably higher than those recorded in 2020 and earlier years. In addition, both metrics saw modest month-over-month gains. The average home price for LSTAR in March 2023 was $653,611, while the composite MLS® HPI Benchmark Price was $592,600

Monday, April 3, 2023

April Newsletter ~ The PEDLAR Team Update


April Showers Bring May Flowers


Who else is ready for spring to stay!?!? We are excited with optimism that the winter weather is behind us and we can start looking forward to spring weather! With spring weather comes more activity in the real estate market. We have certainly been seeing more activity in the market with buyers getting more comfortable the conditions of todays market.

The next decision by the Bank of Canada is April 12th so it should be interesting to see what happens with that because of the global bank situations there was some discussion for a potential in reduction. 

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

Re/MAX Canada Explores The Future Of Real Estate In Canada

When it comes to real estate in Canada, insight offers a powerful edge. Understanding what homebuyers and sellers want, think, expect and do is essential, and it’s a constantly moving target. Times change. Conditions evolve. Markets ebb and flow. Staying on top of relevant trends – and even ahead of them – is challenging.

That’s where research comes in. The leaders at RE/MAX, LLC see great value in reaching out to consumers, brokers, agents and industry experts on a regular basis. It’s the best way to see what’s really going on in the business right now – and to build a clearer, more informed sense of what’s ahead. The insights uncovered in the exercise help real estate professionals deliver a better customer experience, and when that happens on a wide scale, it lifts the entire industry. In that spirit, we present the 2023 Future of Real Estate Report, a comprehensive, current analysis of consumer tendencies and professional strategies around buying, selling or owning a home.

Click the link to read more into the difference:

Underused Housing Tax

If you own a home as a non resident, corporation or in partnership then you are required to file an underused housing tax return and election form by April 30th, 2023. You may be required to file the return but exempt from paying the tax! Exemptions include the location of the property and the use. If your home is located along the lakeshore in Grand Bend this region is typically exempt from our understanding but refer to the Underused housing tax vacation property designation tool in the link provided by CRA. Other exclusions include a vacation home used more than 28 days a year or qualifying occupancy period for long term rentals.

 Click the link to view more material on this matter from the Canadian Government:

Renovation Tips To Help Seniors Stay
In Their Homes Longer

More seniors are trying to age in place than ever before. This is partially due to the rising costs of long-term care and the decreasing availability of retirement homes. Plus, many simply want to remain in the homes where they have raised their families and have memories. Technology and a wider availability of services have made it easier for seniors to remain in their homes independently. But what about in the home itself? Here are some renovation tips to help seniors stay in their homes longer.

Create a Plan

The very first step you can take to make a home more senior-friendly is to do an assessment. Go through each room in the house looking for problem areas like tripping or slipping hazards, areas that are hard to access or maintain, and stairs. You could also consider getting a professional home assessment, after which a summary will be prepared with recommendations for fall prevention and home safety.

Click the link to read the full report:

Featured Business Of The Month
The Lake Hound
135 Ontario Street S, Grand Bend


So excited to bring forward The Lake Hound as our featured business of the month because they are one of our favorites to get our Friday office lunch from! All there food is delicious and the staff are always friendly! Not to mention its another amazing family run business! Here is some information about the restaurant below:

The Lake Hound restaurant in Grand Bend, a five generation business since the 1950’s, has undergone many changes to become what it is today. A diverse menu for everyone in the family to choose. Gluten free, vegan, vegetarian, dairy free options as well as burgers, Fish & chips and so much more. The focus is to source local when possible and only local craft beers on tap. Open everyday for breakfast and lunch and serving dinner Thursday to Saturday. Trivia nights are Thursday, Live music on Friday nights. Check out their website or social medias for other events and news! 
Want to join the pack? The Lake Hound is currently hiring for the upcoming summer season - apply on their website. 

29 Beach Lane, Grand Bend
Listed at $2,150,000

Picture perfect lakefront setting in the heart of Grand Bend with great curb appeal and over 3000 sqft of well-designed living space. Walk out your front door to the Blue Flag designated beaches of Lake Huron with sandy shores for long beach walks and world-famous sunsets. At first glance you see the landscaped gardens, triple wide stamped concrete drive, covered front porch with composite decking, irrigation system and 1.5 detached garage complete with power supply for EV charger and change room to shower off the sand after the beach. Inside your welcomed into the home at the foyer which opens to the heart of the living space. The home was completely updated in 2000 including new foundation, electrical, plumbing, drywall, and Pella windows while also enlarged adding the lower level, upper level, and front main floor family room sunroom. They did leave some original charm in the living room and dining room that features knotty pine walls, ceilings, and original hardwood floors as well as a gas fireplace with stone feature wall. The kitchen was updated in 2013 with an abundance of working space and storage. The main floor sunroom family room is the perfect place to relax with a wall of windows overlooking the Lake and a walkout to the lakeside screened in porch. The main floor also includes a full bathroom and guest bedroom. Upstairs you have your spacious primary bedroom suite overlooking Lake Huron with walk in closet, 4 pc ensuite and private walk out covered patio. There’s 2 additional bedrooms, 4 pc bath and laundry room on the second level for family and friends. Finished lower level with another large family room that includes pot lighting throughout. Space for a workshop in the utility room and lots of storage. This home is certainly a unique offering that showcases pride of ownership by the same family for over 70 years!

Click the link to watch the virtual tour:

10134 Beaver Dam Crescent, Grand Bend
Listed at $1,000,000

Southcott Pines brick bungalow with updated modern interior situated among the mature tree setting of Grand Bend just a short walk to the sandy beaches of Lake Huron. Welcome to Beaver Dam Cr which is a quiet loop located just steps from the River Walk nature trail along the Old Ausable River channel. The outside features of the home include the brick exterior with covered front entrance, interlocking brick drive, oversized single car garage, steel roof (2019), back patio and lots of mature trees. Walk inside and you have 2800 sqft of well-appointed living space with pot lighting throughout, built in speakers in the primary areas, hardwood flooring on the main and high-quality laminate flooring in the finished lower level. Main floor living room has vaulted ceilings and a stone tile feature wall with gas fireplace for accent. Updated kitchen with granite countertops, stone tile backsplash, stainless steel appliances and center island with pendant lighting. Eating area off the kitchen with patio doors to the back deck. Spacious primary bedroom with additional guest bedroom on the main floor as well as the main floor bathroom that includes a soaker tub plus glass tile shower. Main floor laundry mudroom off the garage with 2 pc powder room. Downstairs the home keeps impressing, with the large family room that features a wood fireplace surrounded by field stone accent wall. Down the hall you have two additional bedrooms, full bathroom with tile glass shower and a large storage room for everyday essentials. The beach is only a short walk away down through several different beach access trails or drive your car to Sun Beach and park for the day. Walk to downtown or Southcott’s clubhouse with playground for the kids and all the amenities near by. This is your chance to live by the lake, surrounded by nature or have that perfect vacation spot to call yours.
Click the link to watch the virtual tour:

7683 Riverside Drive, Port Franks
Listed at $569,900

Welcome to Port Franks and this 2 plus 1 Bedroom home featuring a large 1/3rd acre treed lot with a fenced back yard and a spacious double garage with parking for 4 out front, on the paved drive. There is lots of privacy with a large 25'x13' deck overlooking the back yard, the fire pit, dog run and the 10'x12' garden shed, all surrounded by mature pine trees. The front of the home has a full 20' long wooden deck as well, so you can be in the shade anytime. The 24'x21' garage features a drive through door to the back yard, where you are able to store your toys behind the garage. The home has everything the family needs from a large foyer to store the coats, 2 baths, a spacious living area with a natural wood fireplace and comes with the pool table in the lower family room, ready for the kids! There has been some recent updates plus the roof is only 4 years old and there is new flooring on the main level. Port Franks is a great place for the family with the best sandy beaches in the area, boat docking at the Conservation Park, lots of activities at the Optimist Community Centre and Park, plus walking trails in the Lambton County Woodlots and of course, those world famous sunsets which are just amazing! This is like living in the Pinery Park when you are just minutes to the Ausable River, Lake Huron and the mature pine and oak trees of the area. 
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
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 Doug Pedlar      Mark Pedlar     Garrett Pedlar 
    Broker of Record                         Broker                        Sales Representative
519-902-4099    519-670-0746     519-872-0910