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Burlington and Hamilton mountain hottest for real estate in the region in 2019 – Global News

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Last year was a seller’s market in the Hamilton and Burlington area.

That’s according to the Realtors Association of Hamilton-Burlington (RAHB), which reports 12,866 home sales in 2019 — up 10.1 per cent over 2018, despite new residential listings being slightly down compared to that year.

The average cost of a home was $587,745, and while that’s only a 4.9 per cent increase compared to the previous year, it’s a whopping 95.3 per cent higher than the average price a decade ago.


READ MORE:
Housing market cools in Hamilton, Burlington in December 2019: realtors association

“The RAHB residential market has balanced out from the high activity experienced in 2016 and 2017,” said RAHB CEO Carol Ann Burrell in a release. “However, increases in average price and number of sales, paired with a decrease in new listings, indicates that 2019 favoured sellers more than in 2018.”

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The most homes in Hamilton were sold on the mountain last year — with 2,043 sales in that area — although Stoney Creek and Ancaster saw the highest jump in sales over 2018 at 16.6 per cent.

Ancaster also had the highest average home price at $772,811.

Burlington saw the most activity overall, with 3,086 sales and an average price of $755,639.


READ MORE:
Hamilton city councillors pitch vacant home tax in hopes of freeing up supply

It was good news for those selling single-family homes, as sales of those types of properties increase across the entire region — although the highest increase happened in Hamilton.

“The clear trend for 2018 was that apartment-style and townhomes outperformed detached properties,” said RAHB President Kathy Della-Nebia in a release. “This year we see that these types of properties are still performing well; however, buyers choosing detached homes are trending upward yet again.”

Overall, the total volume of sales across the region was $7,897,509,003 — up nearly $1 billion from 2018.

© 2020 Global News, a division of Corus Entertainment Inc.

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Corporate Real Estate In Canada: Key Issues For 2020-2021 – Real Estate and Construction – Canada – Mondaq News Alerts

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Canada:

Corporate Real Estate In Canada: Key Issues For 2020-2021

To print this article, all you need is to be registered or login on Mondaq.com.

Four partners of our national Real Estate Group have co-authored
the Canadian chapter of Practical Law’s
2020 Corporate Real Estate Global Guide. This publication
provides an excellent overview of the current state of commercial
real estate across Canada’s major jurisdictions, including the
following topics:

  • State of the Canadian corporate real
    estate market
  • Real estate investment: financing and
    structures
  • Foreign ownership restrictions
  • Registration of title and types of
    land tenure
  • Typical provisions of real estate
    contracts
  • Due diligence
  • Seller’s warranties
  • Liabilities
  • Transaction closing processes and
    requirements
  • Taxation
  • Climate change and environment
  • Real estate financing and
    lenders’ remedies
  • Typical lease provisions
  • Planning and development
    controls

The authors would like to thank Stephen Holinski, Stephanie
Redding, Lisa Grantham, Simone Main, Alan Stachowiak, Julie
D’Avignon, Andrew Elliott, Andrew Cunningham, Philippe Kattan
and Jean-Guillaume Shooner for their contribution to this
Q&A.

We are pleased to be able to make this 12-page publication available for
downloading.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

POPULAR ARTICLES ON: Real Estate and Construction from Canada

Choosing Your Executors

O’Sullivan Estate Lawyers LLP

An executor “executes” your will, carrying out the terms of your will and administering your estate.

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Kamloops real estate market shows some improvement after slow spring – Kamloops This Week

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June real estate sales figures appear to show the market returning to normal, but the president of the Kamloops and District Real Estate Association said the figures may just show a catch-up after a slow spring.

June saw 291 residential units sold in Kamloops and the surrounding region. That’s an 8.2 per cent increase over June of last year, and a 66 per cent increase over May’s sales, according to data released by KADREA president Wendy Runge.

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“The sales in June signify that if we keep doing what we are doing, the impact of the pandemic on the real estate markets could be softened through the rest of the year,” Runge said in a media release.

The average price of a home sold in Kamloops has also increased, from $438,242 in 2019 to $459,504 in 2020, a 4.8 per cent increase.

But with a slowed market in April and May due to COVID-19, the number of homes sold in Kamloops so far this year is down 24 per cent.

“Although June numbers have improved, numbers may be indicative of the sales completing in June because of a slow spring,” Runge said.

Runge called the rally a “muted recovery” in the market and said she expects the trend to continue, with better days ahead.

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Niagara real estate sales increasing after COVID-19 slowdown – StCatharinesStandard.ca

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Niagara’s real estate market is continuing to rebound, after sales were initially curtailed as a result of the COVID-19 pandemic.

Niagara Association of Realtors reported a 59 per cent increase in sales in June compared to a month earlier, with 767 homes sold.

“There a lot of people who have outgrown what they have and were planning to move earlier when this hit and now they just can’t wait any longer,” said association president Terri McCallum.

She said there is high demand for properties “in the starter and move-up ranges, which is decreasing the days on market and moving the homes price index up” in all but one area covered by the association.

Prices for Niagara homes increased by 11.4 per cent compared to June 2019.

The real estate market initially experienced significant decreases in sales as the pandemic hit the region — with sales dropping by 38 per cent in the last week of March.

But in the months since, McCallum said, local realtors have begun implementing initiatives making it easier for people to shop for new homes online.

“Realtors have really embraced virtual showings, virtual tours. They’re putting the floor plans online so that people can actually visualize” the homes they’re considering.

“Those kinds of add-ons in the listings have certainly helped to eliminate some in-person showings, because people don’t need them.”

Meanwhile, she said, stringent realtors are also doing a lot to ensure the safety of clients when they physically visit properties, such as wearing masks, disinfecting surfaces, leaving doors and windows open and using COVID-19 “declaration forms” to help track people who have visited a home, just in case any illness is detected among them.

“I think that sellers and buyers are feeling more confident that with these safety protocols in place it’s OK to go about their business,” McCallum said.

She said many of the protocols put in place during the pandemic will likely remain when its over.

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After years of seeing increasing real estate prices in Niagara, McCallum said she expects the trend to continue.

“I think it’s safe to say that with the lack of inventory, it only drives prices up. It’s supply and demand and it always has been.”

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