07.19.23 | For Buyers

Housing Market Insight June 2023

June 2023 – GTA Housing Market News

 

 

 

Here is our quick market update for the Toronto Real Estate Board and Milton area. 

What we’re seeing is the prices have stabilized, so the average sale price in Milton between May and June was exactly the same. There was a slight dip overall in the GTA of just over 1%, but most of this drop was the average sale price in the City of Toronto. That can be skewed by lack of luxury and high end sales. We are still seeing record population growth, and we have more demand than supply and continued lack of inventory. We actually had more sales in June than we did last year in June, with even less inventory. 

What we are seeing on the ground is just an overall slowdown, less showings, less offers. Which is typical for summer, July and August, we will see what happens going forward.

If you have any inquiries regarding the market or your specific property, please do not hesitate to contact us at any time. We are here to assist you.

By: Katherine Barnett

 

 

Milton Real Estate Market

The average price in Milton $1,115,784

 

Burlington Real Estate Market

The average price in Burlington  $1,178,036

 

 

Oakville Real Estate Market

The average price in Oakville $1,568,200

 

 

The average price in GTA $1,182,120

 

Have questions about the market? Contact us today to learn more!

 

Previous Reports on GTA Housing Market News

 

 May  April  March  February January December 

 

06.6.23 | For Buyers

Housing Market Insight May 2023

May 2023 – GTA Housing Market News

 

 

 

Here is our quick market update for the Toronto Real Estate Board and Milton area. 

The Toronto Real Estate Board and Milton area witnessed a surge in demand for housing, outpacing the available supply. Sales as a proportion of new listings showed a remarkable increase compared to the previous year, indicating heightened competition among buyers. In May 2023, sales experienced a substantial growth of 24.7% compared to May 2022. On a seasonally adjusted monthly basis, sales also saw a positive trend, rising by 5.2% compared to April 2023. Although the average selling price in May 2023 declined slightly by 1.2% to $1,196,101 compared to May 2022, it rose by 3.5% on a seasonally adjusted monthly basis compared to April 2023. The heightened demand for ownership housing can be attributed to higher borrowing costs and population growth. Strong rent growth and record immigration have further fueled the surge in home sales. However, the inadequate supply of listings relative to demand has exerted upward pressure on selling prices during the spring market.

If you have any inquiries regarding the market or your specific property, please do not hesitate to contact us at any time. We are here to assist you.

 

 

 

Milton Real Estate Market

The average price in Milton $1,117,530

 

Burlington Real Estate Market

The average price in Burlington $1,115,294

 

 

Oakville Real Estate Market

The average price in Oakville $1,554,259

 

 

The average price in GTA $1,196,101

 

Have questions about the market? Contact us today to learn more!

 

Previous Reports on GTA Housing Market News

 

 April  March  February January December 

 

3 Durham St

05.10.23 | For Buyers

8 Easy Outdoor Home Improvements to Consider This Spring

Canada has two seasons: winter, and renovation season. With spring in full swing, now is the perfect time to start planning your outdoor renovation and home improvement projects to plug away on, before winter rolls around again. Whether it’s the front yard or the backyard, or somewhere in between, there are plenty of easy and affordable projects that you can tackle that will boost your home’s curb appeal and help it stand out in your neighbourhood. Here are eight easy outdoor home improvements to consider that will create a more welcoming space for guests and will have you enjoying the great outdoors throughout the spring and summer, and beyond!

1. Give Your Front Door a Makeover

Let’s start with the focal point of your home’s front facade: the entranceway. Replacing your door and adding glass inserts can be an impactful – albeit expensive – proposition. However, a fresh coat of paint or stain for your door will give your home a fresh look without breaking the bank. Be bold and add a pop of colour, like a vibrant yellow or red, to really make a statement.

Looking to create a grand entrance? Give the front door some more love by upgrading hardware like the lock, knob or handle and knocker. This will give a tired old door a brand-new look and feel that is sure to turn heads.

2. Illuminate the Landscaping

Show off the work you have done in the garden and admire it long into the evening with solar-powered outdoor lights. It’s easy to do. Just pop them into your garden beds, where they’ll soak up the sun to illuminate your plants in the evening.

Outdoor lighting creates a beautiful ambience in your yard. Even just a limited amount of lighting can highlight your garden long after the sun goes down. Be sure to illuminate pathways and steps to create ease and add safety when manoeuvring the space.

3. Reseal the Driveway

Driveways take a beating. A fresh coat of blacktop sealer can work wonders to boost your driveway’s appearance.

It’s a job you can certainly do yourself. Expect that this project will take a whole weekend, but it will also extend the life of your driveway.

4. Upgrade your Front Walkway

Upgrading an entire patio may be a little out of your price range. That’s okay. You can turn your attention to your walkways as a doable and affordable DIY project.

If you are looking for the most affordable opinion, choose gravel. Crushed gravel and limestone, or pea rock are all great choices. You can add a level of sophistication to the path by selecting a higher-end edging material, such as brick or stone.

Allow the path to meander through your gardens. Create built-in seating or a conversation area along the route. Be sure to illuminate the way with some solar-powered outdoor lighting.

5. Revive Your Old Deck

Is your deck looking like a place you want to avoid? No problem. Those grey, weather-beaten boards can be revived. You can power-wash and hand-scrub that deck back to life. Add a protective coat of semi-transparent stain to shield it from the elements.

6. Spruce Up Your Windows

We’ve talked about the door, how about showing your windows some love too? Do you have shutters? Give them a fresh coat of paint and a little more pop. Be sure to fill in any holes with wood filler before you paint.

Add extra visual appeal and more greenery by building flower boxes or a mini pergola outside the window. You’ll love looking out the window and admiring fresh flowers through the spring and summer!

7. Build an Outdoor Fire Pit

An outdoor fire pit is a great place to gather all summer long. Swap stories, enjoy some drinks, and feel like a kid again by roasting marshmallows under the stars. The good news is that there are affordable DIY options to give you a fire pit that is the centrepiece of your outdoor living.

With a shovel, landscaping stones, masonry adhesive, and a whole lot of elbow grease, you can build a simple fire pit for some unforgettable backyard experiences.

8. Raised Planters

Do you feel like you are missing a green thumb? Give raised planters a try, and you’ll finally feel like the gardener you wanted to be. They are easy to build and cost-effective for planting lush displays of veggies or flowers, while offering some protection from hungry garden friends, like rabbits. Fill the planters with high-quality soil and fertilizer to give your seeds or plants a healthy, nutrient-dense home.

Dig In!

Summer will be here before you know it, and with these simple outdoor home improvements done, you’ll be ready to soak it up, in your more welcoming, functional and enjoyable outdoor space. As a bonus, these simple and affordable outdoor upgrades are sure to heighten the curb appeal of your home should you be tempted to sell in the years to come. Happy building, landscaping and renovating!

05.11.23 | For Buyers

Housing Market Insight April 2023

April 2023 – GTA Housing Market News

 

 

 

Here is our quick market update for the Toronto Real Estate Board and Milton area. 

 

Conditions continue to tighten across the GTA with nearly 40% fewer listings hitting the market, despite roughly the same number of sales.⁠ ⁠ Driving buyers into competition more and more⁠ ⁠ The Average sale price of all home types across the GTA was $1,153,000, down 7.8% from this time last year.⁠ ⁠ In Milton, the average sale price was $1,118,000 and homes are selling for roughly 101% of asking. Average Days on the market was steady at about 13 days.⁠ ⁠ Months of inventory in Milton continue to hover around 1.7 months, meaning we are still firmly in a seller’s market. ⁠ ⁠ 

If you have any inquiries regarding the market or your specific property, please do not hesitate to contact us at any time. We are here to assist you.

 

 

 

Milton Real Estate Market

The average price in Milton $1,118,827

 

Burlington Real Estate Market

The average price in Burlington $1,149,169

 

Oakville Real Estate Market

The average price in Oakville $1,580,110

 

 

The average price in GTA $1,153,269

 

Have questions about the market? Contact us today to learn more!

 

Previous Reports on GTA Housing Market News

 

  March  February January December November

 

Treat yourself to protein-packed cottage cheese ice cream! It’s a creamy, satisfying, and healthy dessert option- perfect for any time of day!

This cottage cheese ice cream is a healthy way to get your fix while upping your daily protein intake. Not to mention cottage cheese on its own can be pretty bland, and you may be wondering how you take something with a cheese-like flavor and make it into a delicious dessert. That’s where the toppings come in! You can achieve a cheesecake-like flavor by blending fruit into it, like strawberries, blueberries, and raspberries. Follow the fruit by folding in crushed graham crackers, or add other sweet additions, like chocolate chips.

 

INGREDIENTS

  • 15 ounces whole milk cottage cheese
  • ¼ cup honey

Peanut Butter Chocolate

  • ¼ cup peanut butter
  • ¼ cup chocolate chips

Strawberry Cheesecake

  • ½ cup fresh strawberries
  • ¼ cup crushed graham crackers

Banana Cream Pie

  • 1 ripe banana
  • 1 teaspoon vanilla extract

INSTRUCTIONS

  • Place the cottage cheese, honey, and any other ingredients in a high-powered blender or food processor and blend until it’s silky smooth.
  • Fold in the topping ingredients of your choice.
  • Transfer the mixture into one or multiple freezer-safe containers of choice and freeze for at least 3-4 hours. Allow to thaw for 15 minutes before scooping.

 

NOTES

Storage: Allow it to freeze for about 3-4 hours before dipping for the best texture. After that, you can freeze your ice cream in an airtight container for up to 2 months.

Tips:

Use full-fat cottage cheese. Whole cottage cheese contains more fat, adding richness and creaminess to the ice cream. It also has a higher protein content than reduced-fat or fat-free cottage cheese, making it an excellent option for those seeking to increase their protein intake.

Blend in some ingredients. Depending on the flavour you’re making, you may enjoy some of the ingredients being mixed in to the base for a flavoured cottage cheese ice cream with chunks of additional topping folded in before freezing.

Rest on the counter before scooping. Because cottage cheese can become icy when frozen, you’ll want to take the chill off from the freezer. You’ll get a cleaner, smoother scoop and it will taste more like ice cream.

Stir occasionally. To make sure that your cottage cheese ice cream doesn’t get icy, once you’ve placed it in the freezer give it a good fold every 30 minutes. Cottage cheese has a good amount of water, so once you freeze it that water will also freeze. Keep it creamy with this quick step.

04.3.23 | For Buyers

Tips for Buying Under Balanced Market Conditions

Here are seven improved tips for buying under balanced market conditions:

1. Establish Your Budget: Before starting your search for a property, establish a budget that takes into account your financial standing, down payment, and monthly mortgage payments. Knowing what you can afford will help you stay within your means and avoid overextending yourself.

2. Conduct Market Research: Understanding the market where you intend to buy is crucial to making informed decisions. Do your research on market trends and dynamics to avoid overpaying or buying a property in a bad neighbourhood or location with low resale value. This is especially important in a balanced market where competition for properties can be high.

3. Work with a Real Estate Agent: A reputable and experienced real estate agent can help you navigate the market conditions and find a property that fits your budget and personal preferences. They act as middlemen, connecting the right seller with the right buyer. And the best part is that buyers don’t have to pay commission as the seller handles that component.

4. Be Flexible: Negotiations can be crucial in making or breaking a deal. While buyers may have the upper hand in a balanced market, it’s important to remain flexible and open to negotiating terms and conditions, including the property price and closing costs.

5. Get Pre-Approved for a Mortgage: To avoid unnecessary surprises and disappointment, get pre-approved for a mortgage before falling in love with a property. This will show you how much you can afford and what offer you can put on a property.

6. Prioritize Location: Location is a critical factor to consider when buying a property. Before deciding on a property, consider the surrounding neighbourhood, schools, amenities, and transportation. A property with a good location tends to have high resale value.

7. Hire a Professional Home Inspector: It’s essential to have a professional home inspector assess the property’s condition before making any offer or signing any papers. A home inspector can identify potential issues that need to be addressed and identify problems that a regular person may not even consider. Avoid the mistake of abandoning home inspector services to close a deal sooner.

03.8.23 | For Sellers

Selling Under Balanced Market Conditions

First, what is a balanced market anyway? This is when the supply of residential properties matches the level of demand from buyers. The two other types of housing markets are buyers and sellers: the former is when an enormous volume of units exceeds prospective homeowners, while the latter is when supply is far outpaced by demand.

Indeed, homeowners easily sold their homes above the asking price for the last couple of years. However, the Canadian real estate market has changed, so selling these homes has become more challenging.

Here are five tips for selling your home in a balanced market:

#1 Set a Competitive Price

Because active or new residential listings are now keeping up with the number of buyers, it is crucial to establish a price that lines up with current conditions. In addition, real estate experts contend that buyers may be a bit more fastidious when the broader housing sector is calm. As a result, it is essential to price your home correctly based on what the neighbourhood is doing and what agents recommend.

#2 Home Inspector

Before listing your home on the market, it is critical to hire a contractor or a home inspector and determine if there is anything wrong with the property, be it something that needs to be repaired or replaced.

During the pandemic-era boom, many buyers had ditched the idea of hiring a home inspector since it might have lost them the single-family house, attached property, or townhome. Today, it is a bit different, and even minor repairs might deter buyers from submitting an offer.

#3 Clear Your Things

When interested parties arrive at your home, they want to envision what their stuff will look like in the living room, bedroom, or kitchen. They do not want clutter to distract them from where they would potentially install their things. Therefore, as a rule of thumb, sellers need to clear at least 50 per cent of their furnishings, decorations, or items from each room. The more space, the better an idea visitors will have of how they will look in the new home.

#4 Add Incentives

While you do not need to go overboard in trying to strike a deal, you may need to add modest incentives to attract buyers. This could consist of new appliances, or a new television. The little things can ensure the home is sold faster and without complications or headaches. This might not be necessary for some regions of the national housing market, but it may be imperative in a part of the country with little sales volumes.

#5 Wait and See

In the previous boom, it was almost guaranteed that the listing would sell over the asking prices. Today, everything has been turned upside down, so you will know how much of the actual selling price you will receive once an agreement has been made. This can be difficult if you are in the market for a new home since you do not know how much equity you will possess. Because of this, you may need to wait a while until you can determine what you can afford.

Or course, working with the Barnett Real Estate team we are able to help guide you through the process, regardless of the market conditions.

Many of us enjoy indulging in refreshing beverages from time to time. Whether it’s a cold soda, a hot cup of coffee, or a fruity smoothie, drinks have the power to quench our thirst and provide a moment of pleasure to our taste buds. From the classic drinks that have been enjoyed for centuries to new and innovative concoctions, there’s a drink for every occasion.

INGREDIENTS

1 can frozen pink lemonade concentrate

1 pt. ripe strawberries

6 1/4 c. cold water

1 qt. ginger ale

whole strawberries

DIRECTIONS

STEP 1

Process lemonade concentrate, hulled strawberries and 1 cup of the water in blender or food processor until berries are liquified.

STEP 2

Pour lemonade mixture into punch bowl. Stir in remaining 5 1/4 cups cold water. Gradually stir in ginger ale. Serve over ice. Garnish with berries.

04.12.23 | For Buyers

Housing Market Insight March 2023

March 2023 – GTA Housing Market News

 

 

 

Here is our quick market update for the Toronto Real Estate Board and Milton area. 

 

As we move through the first quarter, we’ve been closely monitoring the Toronto Real Estate Board and Milton area market. One trend that has become apparent is the limited inventory of available homes, resulting in heightened competition among buyers. This has put upward pressure on prices, with the average sale price for a home in Milton currently standing at $1,133,21, and an average of 17 days on the market.

In the Greater Toronto Area, the average sale price for all types of homes is currently $1,108,606, which represents an increase of $36,000 from January.

If you have any inquiries regarding the market or your specific property, please do not hesitate to contact us at any time. We are here to assist you.

 

 

 

Milton Real Estate Market

The average price in Milton $1,133,210

 

Burlington Real Estate Market

The average price in Burlington $1,040,366

 

Oakville Real Estate Market

The average price in Oakville $1,571,254

 

 

The average price in GTA $1,108,606

 

Have questions about the market? Contact us today to learn more!

 

Previous Reports on GTA Housing Market News

 

February January December November October

 

03.9.23 | For Buyers

Housing Market Insight February 2023

February 2023 – GTA Housing Market News

 

 

Here is our quick market update for the Toronto Real Estate Board and Milton area. 

As you’ve probably heard, the Bank of Canada held the current interest rate at 4.5%, for the first time in a year.  We will be watching to see how this impacts the Spring market in the coming weeks and months. 

In February 2023, TREB saw 47% fewer sales, but market conditions remain tight as new listings are also down roughly 40%, keeping low inventory. The average sale price is $1,095,000 among all home types, which is down about 18% from this time last year but is an increase from January.

In Milton, the average sale price for all home types was $975,000, selling on average for 100% of the asking price and within 14 days on the market, which signals that we are still very much in a seller’s market. The average price for a detached home in Milton is $1,318,000 which is where prices were just before the spike in prices we saw last year. We are still seeing sale prices well ahead of where we were pre-pandemic. 

Keep in mind, micro-markets vary quite a bit, so if you have any questions about the market or your home in particular, reach out anytime, we are here to help.

 By: Jeannie Oropesa

 

Milton Real Estate Market

The average price in Milton $1,055,272

Burlington Real Estate Market

The average price in Burlington $1,047,829

Oakville Real Estate Market

The average price in Oakville $1,564,949

The average price in GTA $1,095,617

Have questions about the market? Contact us today to learn more!

 

Previous Reports on GTA Housing Market News

 

January December November October September