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Here are the Ontario real estate markets where properties are selling the fastest

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The majority of real estate properties in housing markets across Ontario are selling quicker than in Toronto.

A report posted by Zoocasa on Thursday, said 12-out-of-22 Ontario housing markets had properties listed for sale for a shorter amount of time than the Toronto average in December.

The Waterloo Region came in first with the smallest number of days on market (25 days), followed by Aurora (26 days), and London and Whitby tied for third (28 days).

According to data by the Toronto Regional Real Estate Board, homes in Canada’s largest city were on the market for an average of 40 days in December.

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This marked a 110.5 per cent year-over-year increase from Dec. 2021, when properties were listed on the market for an average of 19 days.

Caledon and Orangeville were tied with having properties listed on the market for the longest amount of time, with an average of 60 days.

Vaughan and Milton both came in at second last with properties listed for an average of 47 days.

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Ottawa Valley real estate ends on a high in a dismal year – Ottawa.CityNews.ca

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The 2022 real estate year in the Ottawa Valley ended with a little bump in what can best be described as a year to forget if you are a realtor or an individual searching for that perfect home at a reasonably affordable price. 

The number of homes sold through the MLS® System of the Renfrew County Real Estate Board totalled 83 units in December 2022. This was a substantial decline of 21 percent from December 2021 but still came in around average levels for this time of year.  

The year started off slow and never really gained any momentum during the 12 months, a trend that the rest of Canada was mired in for the first eight months of the year.  

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In its final report of the year, the Canadian Real Estate Association (CREA) reported the national slower than usual real estate sales in the first half of the year was caused by a number of factors.  

“In 2022, we saw one of the biggest single-year shifts on record in Canadian housing activity, from record highs last winter to just below the 10-year average to end the year,” said Jill Oudil, chair of CREA. “That said, the market’s adjustment to higher rates may be mostly in the rear-view mirror at this point. That could start to bring buyers back off the sidelines this spring.   

Leading the way for the slump in sales was the uncertainty of the Canadian mortgage rates and the pattern of following the American bank rate that was drastically increased over the latter part of the year.  

The Federal Reserve waged a war on inflation throughout 2022 and as a result the interest rate set by the Fed increased by a whopping 4.25 per cent during the 12 months. The high rate of inflation, the war in Ukraine, shortages of materials in the global supply chain all contributed to the massive increases. 

In Canada, the Bank of Canada often followed suit. In October the cost of borrowing to purchase a home was determined by the national rate which sat at 1.75 percent. By December 2022, it was 4.25 per cent.   

In Renfrew County, home sales were eight percent below the five-year average and six percent above the 10-year average for the month of December. On an annual basis home sales totalled 1,652 units over the course of 2022. This was a significant decrease of 25.9 percent from the same period in 2021. 

The average price of homes sold in December 2022 was $402,804, down sharply by 10.1 per cent from December 2021. 

The more comprehensive annual average price was $465,948, an increase of 14.2 per cent from all of 2021. 

The dollar value of all home sales in December 2022 was $33.4 million, a big reduction of 28.9% from the same month in 2021. 

The number of new listings increased by 8.2 per cent (five listings) from December 2021. There were 66 new residential listings in December 2022. 

New listings were 9.1 per cent below the five-year average and 21.7 per cent below the 10-year average for the month of December. 

Active residential listings numbered 226 units on the market at the end of December, more than double the levels from a year earlier, surging 113.2 per cent from the end of December 2021. 

Active listings were 20.3 per cent below the five-year average and 55.5 per cent below the 10-year average for the month of December. 

Months of inventory numbered 2.7 at the end of December 2022, up from the one month recorded at the end of December 2021 and below the long-run average of 7.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

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8Twelve Enters into Mortgage Solution Agreement with Your Home Sold Guaranteed Realty – Financial Post

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TORONTO, Jan. 30, 2023 (GLOBE NEWSWIRE) — 8Twelve Financial Technologies Inc. (“8Twelve” or the “Company”) is pleased to announce that it has entered into an agreement to provide mortgage solutions to Your Home Sold Guaranteed Realty (“YHSGR”), its agents and their clients.

8Twelve’s proprietary INFIN8 utilizes real-time analytics, AI, and workflow automation to identify the best possible mortgage from Canada’s largest marketplace of bank, alternative, and private mortgage products.

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At Your Home Sold Guaranteed Realty, we invest in our agents more than any brokerage you will find,” said Todd Walters, CEO and Co-Founder. “Partnering with 8Twelve fits our model perfectly because we consistently equip our agents with differentiating tools that help them to build their business and dominate in the industry. This partnership ensures that YHSRG realtors have the best tool to secure financing for their deals.”

YHSGR is the only real estate brokerage in North America to be licensed by the US and Canada’s #1 real estate Coach Craig Proctor. The distinction brings with it exclusive access to Craig Proctor’s proprietary business teachings and systems for YHSGR agents; systems that have been proven to create more millionaire agents than any other real estate trainer or coach.

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“With rising interest rates and tighter lending requirements, Canadians now more than ever need to know all their home financing options,” said Akber Abbas, President & Chief Information Officer of 8Twelve.  “This agreement highlights the strength of our service offering in enabling large scale enterprises to deliver the best financing solutions to their clients.”

8Twelve is seeing increased interest and user success in its offering as companies are exploring more ways to help their clients.  8Twelve’s secure, smart technology is able to provide fast turnarounds and exceptional service levels to homebuyers as it strives to provide a mortgage solution for every borrower situation.

About Your Home Sold Guaranteed Realty
Your Home Sold Guaranteed Realty was founded with this vision: To Be the Best Place to Work, Buy, and Sell Real Estate! We are proud to be one of the fastest-growing real estate companies nationwide. If you’re looking to buy or sell a home, Your Home Sold Guaranteed Realty is there for you every step of the way. You can count on knowledgeable agents with PERFORMANCE GUARANTEES that are ready to handle every situation, giving you the peace of mind that you made the perfect choice in a Real Estate Agent and Company!

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About 8Twelve Financial Technologies
8Twelve is transforming the home financing experience by providing consumers with one convenient platform to solve all their mortgage needs. Gone are the days of needing to search for a mortgage through multiple providers such as banks, mortgage brokers, and private lenders. Borrowers can now access Canada’s largest selection of mortgages in one convenient marketplace. 8Twelve’s proprietary cloud platform INFIN8 utilizes real-time analytics, AI, and workflow automation to identify the best possible financing solution in the Canadian market (from over 65 lenders and over 7000 mortgage products).

Follow 8Twelve on:
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Contact:
Rick McLaughlin
Email: rick@8twelve.mortgage 

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Saskatoon Real Estate: 6 most expensive house lisitngs | CTV News – CTV News Saskatoon

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Housing sales have been dropping in Saskatoon. However, sales are still higher than the 10-year-trend according to the Saskatchewan Realtors Association (SRA). For those searching for something a little above average, the Saskatoon market still has some of the top luxury homes to offer.

Here are six of the most expensive homes in the region.

 

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(Realtor.ca)

(Realtor.ca)

A four-bedroom, six-bathroom home in the Nutana neighbourhood. The property has direct access to the South Saskatchewan River and offers captivating views. Over four-thousand square feet spread over three levels, including a developed basement. It also has an in-ground pool, courtyard and a dock at the river’s edge. The open-concept kitchen contains a butler’s pantry, coupled with a formal living and dining room on the main floor.

 

(Point2Homes.ca)

 

(Point2Homes.ca)

A four-bedroom, three-bath luxury home overlooking the South Saskatchewan River. This property was custom created to make the most of the breathtaking view. It offers floor-to-ceiling windows, an ultra-private rear courtyard with a built-in cooking area, a basement that has a space for a live-in nanny suite and a home gym. It also has a unique high-heel style bathtub in the master bedroom. 

 

(Realtor.ca)

(Realtor.ca)

This five-bedroom, four-bathroom home offers views of the South Saskatchewan River. It is also automated, which means you can control elements through your phone, such as windows, temperature, surround sound, lighting and security system. There is also a four-car garage on the property, a second-flood deck and landscaping.

 

(Point2Homes.ca)

(Point2homes.ca)

A five-bedroom, seven-bathroom home that offers a lot of space and comes completely furnished, except for the piano. In the basement, there is a theatre room, powder room, and storage room. The main level features a powder room, pantry and kitchen with Miele appliances. In the yard, there is a ground-level patio and a triple garage that offers direct entry to the basement.

 

(Realtor.ca)

(Realtor.ca)

One of Saskatoon’s original mansions, this 5-bedroom, 4-bathroom home was designed by Frank P. Martin, a well-known architect from the 1900s. Renovations have kept the original plan while updating the wiring, plumbing and more. This home features a private rooftop patio, a third-floor self-contained suite that is separate from the rest of the home, and the original carriage house with a loft.

 

(Realtor.ca)

 

(Realtor.ca)

This four-bedroom, three-bathroom home was built in 1962 by George Kerr in the Mid-Century Modern Style. It includes a large art studio, a floating staircase, a 20-foot ceiling and floor-to-ceiling windows. It offers views of the green space in Grosvenor Park and is a short walk to the University of Saskatchewan.

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