Canadian home sales pick up in September

According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up in September 2011.
Sales activity rose 2.7 per cent in September from the previous month.
Holding in line with the ten-year average, activity during the first nine months of this year pulled ahead of sales over the same period last year.
· The number of newly listed homes held steady when compared to the previous month.
· The national housing market tightened in September from the month before, but remains firmly entrenched in balanced territory.
· The national average price posted the smallest year-over-year increase since January.
National sales activity rose 2.7 per cent in September when compared to August, and follows three months of stable activity. September’s increase reflects strengthened activity in a number of major markets, led by Toronto. The monthly increase pushed national sales to its highest level since recently tightened mortgage regulations dampened sales earlier this year.

Fall is here in Colour!

Thanksgiving was with the Pedlar family in Fordwich, near Listowel where the maples have turned a bright yellow already. So you don't need to go north to see the colours any nicer than right here at home!.....

The Harvest is here in Huron County

With Thanksgiving upon us it was nice to see the farmers getting their soybeans off with this great weather on the weekend here in Grand Bend.

Market continues to rebound!

The London Free Press reported that after a slow start, the London-St. Thomas real estate market continues to rebound this year. Year-to-date sales have almost caught up to 2010. The London-St. Thomas Association of Realtors (LSTAR) said 702 homes sold in September, up 19.2% over the same month last year. The sales include 589 detached homes and 113 condos. So far this year, 6,512 homes have sold, slightly below the 6,567 sold in the same period last year. Real estate sales in London-St. Thomas were down as much as 15% in the spring compared to 2010, but the market started to turn around in June. "We had a bit of a slow start in 2011, but we're definitely on the right track now . . . and we expect this positive trend to continue." said LSTAR president Jack Lane. The number of active listings was also up 9% in September. "We're absolutely in a balanced market these days," said Lane, "which means a level playing field for both buyers and sellers."

Another nephew gets married!

My nephew Adam Samela married his sweetheart Kim at the Pineknott Golf Course in Dorchester. All the Pedlar boys made it to the event and it was a great party!

Higher prices for farmland, says RE/MAX Report

Rising agricultural commodity values and tight inventory levels have seriously contributed to a significant upswing in the price of Ontario farmland in 2011, according to a report released by RE/MAX Ontario-Atlantic Canada.
The The RE/MAX Market Trends Report – Farm Edition 2011 found that shortages exist in the vast majority of centres studied, with pent-up demand fuelling unprecedented momentum virtually across the province. Upward pressure on acreage values has been consistent as a result. Of the 12 major agricultural communities examined, 11 (92 per cent) reported tight inventory levels, while nine (75 per cent) noted an increase in price per acre. Despite the current volatility in commodity prices, the long-term prospects for the agricultural industry continue to be bolstered by global realities, including population growth, an international grain shortage and decreased availability of quality farmland from a worldwide perspective. The average farmland price per acre in our immediate area is in the $8,000 - $10,000 per acre range.

The London area market heats up in August

The London Free Press reported that home sales in the London and St Thomas area heated up in August, jumping 21.7% compared with the same month last year. The London-St Thomas Association of Realtors said 763 homes sold last month: 620 detached homes and 143 condos. Association president Jack Lane said August sales were above the long-term average of 753 sales for the month. More sellers entered the market; the number of active listings was up 9.8% by month’s end. The market is balanced between buyers and sellers despite the jump in listings, Lane said. “Homes may stay on the market a little longer than they have previously, but the good news is that things are definitely moving.” After a slow winter and spring, the local real estate market has been on the rebound since June. Year-to-date sales are still 2.9 % below January to August last year, but Lane said there’s time to make up the gap. The average sale price for a detached home in August was $237,285, up 1.2% from July.
Most of the Realtors in the Grand Bend area are members of the London and St. Thomas Association of Realtors.