Real eState

Number of Sarnia-area homes for sale climbs in October

Published

2 months ago

November 18, 2022

Megan Johnson

Rob Longo, president of the Sarnia-Lambton Real Estate board. Photo by File photo /The Observer

The supply of homes for sale in the Sarnia area soared to 374 units in October, finishing the month with more than double the number from a year earlier.

That invenotry marked a return to more balanced local real estate market following recent years when few homes were for sale and the area was experiencing an extended seller’s market.

“Active listings haven’t been this high in the month of October in more than five years,” said Rob Longo, president of the Sarnia-Lambton Real Estate Board.

Longo said the “magic number” is enough listings for a three-month supply of inventory.

“We’re just there, basically, at 2.9 months,” he said. “It’s giving everybody a little bit of breathing room and taking a little bit of pressure off.”

The median number of days homes were on the market locally was 21. 5 in October, and they sold for nearly 97 per cent of their asking price.

While the median year-to-date local home price last month – $492,555 – was down slightly from the month before, it remained more than 13 per cent higher than in October 2021, Longo said.

“Although our local market has not entirely escaped the recent downturn, we seem to be weathering the storm very well when compared to other areas of the province that are experiencing a far more severe decline in sales,” he said.

Nationally, a slight increase in sales volumes last month was accompanied by a decline in prices. The MLS Home Price Index fell by 1.2 per cent on a month-over-month basis and 0.8 per cent over the same month in 2021. The actual national average home price was $644,643 in October 2022, a drop of 9.9 per cent from the same month last year.

Housing prices have been falling in parts of the country since the Bank of Canada began hiking interest rates earlier this year in an attempt to bring down inflation.

“The (Greater Toronto Area) and some of the bigger centres, they’re seeing prices have declined somewhere between 25 and 30 per cent,” Longo said. “We haven’t seen anything near that.”

Locally, there has been fewer real estate transactions at the “higher end” of the market with properties priced at “north of $1 million,” Longo said.

“It’s not that the current interest rates are unsustainable or that they’re unaffordable, it’s just that people don’t have the certainty of when” the increases in rates will end, Longo said.

He anticipates another interest rate increase this year but expects them to level off in the New Year.

“I think we’ve done through the worst of it now,” Longo said.

The number of sales recorded locally in October was 128, according to the board’s monthly report.

That’s a dip of nearly 17 per cent from October 2021.

Last month’s local real estate dollar volume of $60.8 million fell more than 18 per cent from October 2021.

The year-to-date local dollar volume in October was down 13 per cent to $733.2 million.

With files from the National Post

pmorden@postmedia.com

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Real eState

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

Published

12 hours ago

January 30, 2023

Megan Johnson

This section is

by GlobeNewswire

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.

“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.

“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!

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:
Facebook, Twitter, Linkedin

Contact:
Rick McLaughlin
Email: rick@8twelve.mortgage

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

Published

22 hours ago

January 29, 2023

Megan Johnson

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.

(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)

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)

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)

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)

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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