Under normal circumstances its reasonably straightforward. If possible, find enough comparables and price just above the average, median or most amount paid in that community or neighborhood.

This year it’s not so easy. The spring 2022 market exceeded all reasonable expectations in terms of sales volume and pricing. And spring 2021 was also a little different too. That was the first year we saw a flight toward single family housing due to Covid-19 concerns.

So how should you price this year? Take a hard look at your current competition. Ask your REALTOR® to take to see the homes that you will be competing against.

Decide where on the shopping list of homes for your area you would like to appear. Do you want to be on the top of the list or the…

851 Views, 0 Comments

Read Full Post

The home and condo resale market is proving to be an interesting place so far this year. Sales volume is way down when compared to last year or the year before that. However, prices are holding. Lets talk about 3 influences in the market that you need to be aware of.

First Prediction – Interest Rates

Interest rates will be coming down as the year matures.

The overreaching goal of the bank of Canada is to reduce the overnight rate as the year progresses.

The Bank of Canada has increased overnight interest rate several times since early last year from a record low of .25% last year to 4.5% in January 2023 according to TD Bank. This was to combat inflation across the economy that had crept up to 40-year record highs. According to the bank the…

711 Views, 0 Comments

Read Full Post

In January 2023 I had the pleasure of sitting down with Ilia Kogan the founder and President of Caliber Master Builder and his Production and Client Care Manager Sandra.

Ilia started his career 32 years ago with another company where they focused on building multi-family homes.

Establishing Caliber Master Builders around 20 years ago was a natural progression for him and Ilia was please to confirm that they have now built over 1000 homes.

I asked Sandra and Ilia what would distinguish Caliber Master Builders from other service providers and this is what I learned:

1. If you are going to select your own building site, the team at Caliber can help you to choose the best possible site for your needs. They can also advise on the possibilities of…

558 Views, 0 Comments

Read Full Post

COMING SOON! An exclusive Vital Home Realty listing. This home may not yet be on the open market. To view it first, contact us today.

Available with immediate possession & situated in the newer community of Stillwater, this charming 3 bedroom, 3 bathroom would be perfect for first time home buyers or a professional couple. On the main floor you will enjoy a larger gourmet kitchen with stainless appliances, living area & dining area. A handy 2 piece bathroom, walk in pantry & mudroom completes this floor. The upper floor offers a generous ‘away’ room, a large master bedroom featuring a 3 piece ensuite plus his & hers closets. A laundry room, a family bathroom & 2 other good sized bedrooms completes this floor. The basement has larger windows…

621 Views, 0 Comments

Read Full Post

If inventory levels stay lower in 2023, sales values will lift.

Sales Prices

Condo buyers have pushed hard and negotiated solid discounts in January 2023. Average sales prices for 2023 was around $205,000 compared to around $220,000 in 2022 and around $217,000 in 2021.

Sales Volume

January 2022 was an extraordinary year and sales volume for January 2023 was about 7% down. However, it matched 2021. I do not think there is cause for concern.

For many home buyers condos make the most sense.


Days on Market

Condos sold in only 68 days on average in January 2023 compared to 75 days in January 2022. In my opinion, this confirms the underlying confidence that buyers have in condo product.

Supply

There is still…

328 Views, 0 Comments

Read Full Post

The January market delivered a strong price performance.

Sales Prices

In January 2023, average sales prices were 1 percent down compared to 2022, but $11,000 ABOVE 2021. The average sales price for January 2023 was around $438,000 compared to around $440,000 in January last year. A negligible difference.

Sales Volume

Sales volume was disappointing relative to the last 2 years. There were 481 single family sales reported in January 2023 compared to 724 sales in 2022. I expect sales volume will pick up nearer to 2021 levels as the year matures. Last year, 2023 was extraordinary and not likely to be repeated in the foreseeable future.


Days on Market

Average days on market in January 2023 was 61 compared to 52 last year and…

840 Views, 0 Comments

Read Full Post

Your database should be a place that you spend several hours in a day. Its at the very core of your client pipeline, but show big should it be?

Someone called Dunbar (an anthropologist I believe) has suggested that the maximum number of people with whom you can maintain a meaningful relationship is 150 people. A group bigger than this simply unmanageable for most people.

What do you do if your database is bigger than that? On our team we send out regular and valuable content several times a week to our much larger database and many of these folks come into our inner circle of their own volition when they are ready.

How should you segment your 150 person database?

Create 2 groups. A Hot List and a Warm List.

Hot List

Your Hot List…

405 Views, 0 Comments

Read Full Post