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Welcome > Local Info >
Market Conditions Blog ...
Another Quarter Point Rake Hike
for the Bank of Canada this Week...
What does that mean, and what does the future hold?
First, it only means an increase in variable rate mortgages. Fixed rates are steady, bond prices are stable, and we should see fixed long term mortgage rates hold for the coming few months.
The Bank of Canada rate announcement did not include a call for more immediate rate hikes to follow. We could see them stabilize until late 2010. The variable rate mortgage is still the best bargain on the street, and should be for some time. Fixed rate shoppers will enjoy historic low rate opportunities possibly well into the end of 2010. Everyone is a winner!
Guest Blogger: Dwight Trafford
519-942-3333 x102
www.ontariolenders.com
 State of the Market: June 2010
-By Margorie Grime
July 12, 2010
June marked the approach of summer holidays, with the school year ending and vacations being planned.June is traditionally a busy month for closings, especially this year with the HST coming into effect on July 1st.Most of these closings were on deals completed in the springtime months, where sales in the Headwaters region (Orangeville, Caledon, Erin and Dufferin) were the highest in March and April. Sales in Orangeville were up in June compared to May, as many buyers purchase before the summer holidays and plan on moving before the school year starts again in September.The inventory remained relatively the same from May to June. Please see below for more charts from June 2010.
In the entire headwaters region, sales were down slightly in June compared to May.This is due to the fact that sales in Caledon dropped significantly, since the number of homes sold in June actually increased in Orangeville, Dufferin and Erin.The large drop in Caledon’s sales in June was enough to affect the average for the headwaters region.
We look forward to the statistics for the next couple months, as it will be interesting to see what kind of impact the HST will have on traditional market trends.July and August were the strongest months for Orangeville sales in 2009, and headwaters realized a healthy steady volume during the summer months.
       
Statistics from Toronto Real Estate Board and Market Watch
for Orangeville, ON; Dufferin, ON; Caledon, ON; and Erin, ON
State of the Market: May 2010
-By Margorie Grime
June 3, 2010
As we head toward the busy summer months the number of sales in our region is starting to level off. March was the peak month for sales in Orangeville; April recorded the most sales for the Headwaters region (red portion of graphs). Homes are
selling, however there is a higher inventory of homes on the market (blue part of graphs). More homes and fewer buyers implies a slight downward pressure on prices—which means more of a Buyer’s market. (Note: Our region does not get the flurry of activity that Toronto gets with multiple offers and bidding well-over listed price.)
There has been a surge of activity this Spring 2010 vs. Spring of 2009—perhaps, as buyers tried to beat the coming HST and the added cost that it will bring to real estate transactions.
           
Statistics from Toronto Real Estate Board and Market Watch
for Orangeville, Ontario; Dufferin, Ontario; Caledon, Ontario; and Erin, Ontario
State of the Market: April 2010
-By Margorie Grime
May 13, 2010
HOME SALES UP:
Home sales continued their strong momentum in April 2010 surpassing April 2009 sales in all districts. (See below for individual graphs for Orangeville, Dufferin, Caledon and Erin.)
CLOSING DATE AND HST:
It is interesting that the closing date for most sales that have occurred in 2010 is prior to June 30th—a reflection of the Harmonized Sales Tax being implemented on July 1, 2010. June 2010 will be the busiest month ever recorded for closings. With electronic registrations let’s hope the lawyers and computers can handle the load.
Statistics from Toronto Real Estate Board and Market Watch
for Orangeville, ON; Dufferin, ON; Caledon, ON; and Erin, ON
What's Taxable Under the HST
and What's Not?
May 6, 2010
The Canadian government’s new Harmonized Sales Tax (HST) will be implemented on July 1, 2010 – this is no news to us. But many are wondering how the HST will affect prices of what we buy every day.
Want to see what is taxable under HST and what’s not? For a list of examples of how common products and services will be affected click here. You can view the list online, download a PDF, or if you would like a printed version of this list, please give us a call at 519-941-5151.
Renting But Looking to Buy?
April 26, 2010
Thinking of buying a home but need help coming up with a down payment?
This program could help...
The County of Dufferin is once again participating in the Homeownership Component of the Canada-Ontario Affordable Housing Program (AHP). The AHP has committed more than $28 million to make homeownership affordable for low and moderate-income households across Ontario.
The homeownership program provides up to five percent (5%) in down payment assistance to eligible applicants to assist them in purchasing a home to a maximum of $10,000.
Applicants must be renting, be at least eighteen (18) years old, have a gross household income at or below $78,200, with assets of no more than $20,000 and be eligible for financing from a financial institution. The selling price of the home must be at or below $298,322.
For more information please give the Grime Team a call at 519-941-5151.
State of the Market: March 2010
-By Margorie Grime
April 12, 2010
The Spring market continues its strong growth curve! The number of sales for the Headwaters region last month rose an impressive 34% compared to March 2009, though there were comparatively fewer homes for sale. Average sale prices have increased in each area of Headwaters. Orangeville realized a 13% increase compared to March 2009 (from $286,961 to $324,212); Dufferin +20% (from $295,843 to $355,511); Caledon +18% (from $426,531 to $502,286); and Erin +6% (from $377,544 to $399,245). All-in-all you can be confident that home-ownership continues to be a great long-term investment. Please see below for more interesting charts.
Statistics from Toronto Real Estate Board and Market Watch
for Orangeville, Ontario; Dufferin, Ontario; Caledon, Ontario; and Erin, Ontario
State of the Market: January 2010
-By Margorie Grime
February 10, 2010
![[Jan+Market+Stats+Chart.jpg]](http://3.bp.blogspot.com/_WN4307VqvBE/S3QXmnDOpqI/AAAAAAAAARk/CHwZPSBUH5g/s1600/Jan%2BMarket%2BStats%2BChart.jpg)
![[Avg+Listings+Per+Month.jpg]](http://3.bp.blogspot.com/_WN4307VqvBE/S3QXmaVrG3I/AAAAAAAAARc/_qdAX8Tgqzg/s1600/Avg%2BListings%2BPer%2BMonth.jpg)
January is typically a month where there are fewer listings—as is evidenced in the top chart for Jan. 2010—in all areas of the Headwaters region. The highest number of Sales is usually recorded in the months of February, March, April and May for the June, July and August closings. It is an excellent time to have your home on the market as there are fewer properties in competition (a Sellers market). Pricing, as always is key to a successful sale. Below are a few more graphs that might interest you.
Statistics from Toronto Real Estate Board and Market Watch
for Orangeville, ON; Dufferin, ON; Caledon, ON; and Erin, ON
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