Caledon Real Estate Market Snapshot - May 2012

Well, the robins are gone, so it’s back to real estate! Here’s the Market Snapshot for May 2012: 

The number of homes available for sale in Caledon has gone up 10% since May 2011. In contrast, the number of sales has only increased 3.3%. So there is now an inventory of more than three month’s supply of homes on the market. This is still favourable for sellers, but the supply is growing so there is more and more competition among homes available for sale. This may account for the flattening of the median sale price, although a change in the mix of homes sold may be partially responsible.

 

The Toronto Real Estate Board has introduced a new way of measuring home prices that levels out these differences in the types of homes being sold. Based on this new system, the “benchmark” home price in Caledon has actually increased 4.75% over the past year. Moving forward this new method will provide a more accurate comparison for price changes year over year.  

                           

Caledon Real Estate Snapshot   Year over Year Comparison           May-11 May-12 % Change         Sales 91 94 +3.3% New Listings 180 193 +7.2% Active Listings 271 298 +10.0% Median Sale Price $489,000 $490,500 0% Average DOM 31 25 -19% Average % of List $ 98% 97% -1.0% Months of Inventory 2.98 mos. 3.17 mos.

Caledon Real Estate Market Snapshot - April 2012

People often ask me, “How’s the market doing?”   Here’s a snapshot of the Caledon Real Estate Market, comparing activity in April 2012 to April 2011. Sales are still strong, with an average price increase of 14.5%, and less than 3 months of inventory. This means that, if nothing new came onto the market, it would take less than 3 months to sell what’s already listed. It’s worth noting that it’s taking about 30% longer to sell a home this year, and the ratio of list price to sale price is a bit lower, which may mean things are cooling off a bit since last April. I’ll keep you posted from month to month.
                           

Caledon Real Estate Snapshot   Year over Year Comparison           Apr-11 Apr-12 % Change         Sales 85 90 5.9% New Listings 150 171 14% Active Listings 234  250 6.8% Median Price $429,000 $491,000 14.5% Average DOM 23 30 30% Average % of List $ 98% 97% -1% Months of Inventory 2.75 2.77

Things I Love about Caledon: Abbeyfield House

If you haven’t had the opportunity to experience the Abbeyfield house in Caledon East, I highly recommend a visit! I’ve been enthusiastic about the Abbeyfield concept since I first discovered it in the early 1990’s. I’ve heard them described as “fraternity houses for seniors.” I doubt if they get as wild and crazy as a bunch of students living together, but if you like the idea of being free of the cares of keeping house and getting meals, while enjoying the sociability of your peers, you really should check it out. Abbeyfield Caledon is located at 22 Walkers Road East, just behind the seniors apartment building. And there’s a back entrance so you can easily walk into the village for shopping or a cappuccino. Spaces are filling up, so get yourself over there soon! You can contact them at 905-860-0181 or by email at info@abbeyfieldcaledon.org.

Bathroom-dating a Home

Did you know that the age of a home is often in reverse proportion to the number of washrooms it has? I grew up in a house built in 1915. The six of us (my parents and four kids) shared one washroom. Somehow we managed, although I remember moments of hopping from one foot to the other, banging on the door. I re-visited our house years later, after a subsequent owner has renovated. It now had a powder room carved out of the big kitchen where Mom’s washing machine used to be, an attic loft bedroom with a three-piece washroom, and a Jacuzzi tub right where my parents’ bed used to be! (Of course the original washroom had been updated as well.) How thing change! If a home hasn’t been renovated here’s what you’re likely to find: Pre-1960: One second floor washroom. 1960’s: Add a main floor powder room. 1970’s: The second floor washroom becomes a semi-ensuite for the master bedroom. 1980’s: A fully ensuite two-piece washroom is added to the master bedroom. 1990’s: The ensuite becomes a three or four piece washroom. 2000’s: The ensuite becomes an oversized spa. 2005’s (things are speeding up): Look for “Jack & Jill” washrooms, shared by two bedrooms, and more single bedrooms with ensuites. Of course there are the avante guard, who added these features early, and the budget-minded who still forego them, but you can usually guess the age of a house by this rule of thumb.

Caledon Spring 2011 Market Report

What a difference a few months can make! You may recall from my last Market Report, a total of 111 homes were sold during the winter months. Well, between March 1 and May 31, 251 homes changed hands -- more than twice as many -- and the inventory of available homes in settlement areas has shrunk from a 3 months supply to less than 1 1/2 months. Even in the country, demand has grown to the point that, at the current rate, the existing supply of homes will last only six months. What this translates to is: it's a great time to jump into the market. If you've been thinking about making a move -- go for it! I'll be happy to help you establish the market value of your home and create a big splash so all those eager buyers will be sure to notice it and come to take a look. And to help you even more, I've put together a list of Caledon Landscapers and Garden Centres so you can take advantage of the spring weather to spruce up the curb appeal of your home. Just give me a call at (905) 857-0651 and I'll send it to you. I'm looking forward to hearing from you -- and I'm always glad to help!

Caledon Real Estate Market Report – Winter 2010-11

Winter is almost over and the Spring real estate market is heating up. I’ve been tracking three different categories of homes sold in Caledon over the past three quarters, each with its own characteristics. Not surprisingly, the rate of turnover of country properties is a lot slower than in Caledon’s urban centres.

Since December 1, 2010 thirty-four homes have changed hands in the hamlets and country estates. These range from a former church in Alton that sold for $185,000 to a fabulous country estate in northwest Caledon that sold for $15 million! There are currently 130 such homes available, or enough to last for more than a year at the current rate of absorption – so it’s very much buyer’s choice! If you’d like a house in the country, the homes available range from $249,900 to $5,449,000, with a median price of $633,500, virtually unchanged from a year ago.

In town, the median price for a detached home in Bolton, Caledon East, Valleywood and Inglewood is also virtually unchanged from a year ago, at $449,000. This is the category which has seen the most activity, with 52 homes changing hands over the winter months and sale prices ranging from $299,900 to $880,000. There are currently 50 homes available in this category, which represents a three-month supply. This is considered to be a balanced market, so both buyers and sellers can expect to negotiate a fair deal.

Townhouses and semi-detached homes is the category that has seen the greatest change in market value. Most of these are in Bolton, although there are a few in Caledon East. Last year at this time the median value of a home in this category was $326,500. This winter, with 25 sales, it was $345,000, as increase of 5.67%! Homes currently available range from $312,000 to $459,000. It is becoming rare to find a home listed for less than $300,000 in Bolton. There is currently less that a three month supply of homes in this category, so turnover is high.

There are lots of buyers looking for the right home, so if you’ve been thinking about placing your on the market, I’ll be glad to meet with you to get the process started. Feel free to give me a call!