Arnate Swigger

Arnate Swigger

CENTURY 21 First Canadian Corp., Brokerage*
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best september ever


866 homes sold in September 2016 with a break down of 716 detached homes and 150 condos, showing 3.1% over last September and the best September since the London and St. Thomas Association of REALTORS® (LSTAR) began systematically tracking sales back in 1978. "2016 has been a year of breaking records," says Stacey Evoy, LSTAR President. "Not only has this past month been the best September ever, we’ve also had record breaking months of April, June and August.”

Listings were down 15.5% in September, while inventory – as represented by the number of active listings at month end -- was down 31.7%. "Demand remains high and supply low," says Evoy."That means that this Fall Market is a great time to list."

Sixty seven homes sold in St. Thomas in September, ten fewer than in September 2015. Evoy cautions, “You have to bear in mind that last year was the best September for St. Thomas since 2007, when we started breaking out the St. Thomas statistics from the rest of the London Census Metropolitan Area.” The ten year average for the month of September in St. Thomas stands at 60. The average price for a home in St. Thomas Year-to-Date stands at $224,233, up 3.4%.

Within LSTAR's jurisdiction, once again the style of house leading the way was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. The average price for a detached home Year-to-Date stood at $296,283, up 5%, while the average price for a condo over the same period stood at $201,061, up 5.9%. The average price of all homes sold through LSTAR's MLS® Year-to-Date stood at $278,311, up 5.2%.

House Style Units Sold Average Price
2 storey 205 $407,542
Bungalow 173 $226,645
Ranch 110 $345,247
Townhouse 68 $178,896
High rise apt. condo 43 $179,377

The following table, based on data taken from CREA's National MLS® Report for August 2016 (the latest information available), demonstrates how homes in LSTAR's jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

City Average Sale Price
Vancover $853,706
Toronto $736,670
Fraser Valley $621,599
Victoria $564,557
Hamilton $510,204
Calgary $472,983
Saskatoon $413,756
Edmonton $379,006
Ottawa $368,331
Kitchener-Waterloo $364,290
Montreal $360,542
Niagara $331,906
Regina $330,338
London St. Thomas $274,383
Canada $467,082

The vital impact and role real estate plays in the overall economy, is shown in a recent study that states that one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a house changes hands in Ontario. "That means September home sales in LSTAR's jurisdiction spun approximately $45,898,000 into our local economy and created approximately 288 jobs," says Evoy. "We are very proud of the important role REALTORS® play in ensuring the vibrancy of our market area."

Click here to see the original news release of LSTAR.

What Canadian Buyers Want in a Home


Heat savings over hardwood: Survey reveals shift in home buyers’ desires

The Canadian dream home has a new laundry list of “must haves”

Utility bills can cost a homeowner even more when they go to sell their property according to the CENTURY 21® Canadian Home Critics Survey. In the results, which expose purchasers' motivations and turn offs, Canadians overwhelmingly report that they would select a home with energy efficiency upgrades (41%) over updated finishings like granite countertops or hardwood floors (22%). View the full survey press release here.

"It's well-known that home buying is an emotional process, so understanding the shifts in where buyers place value is key to a sellers' success," said Todd Shyiak, national director of operations, CENTURY 21 Canada. "Location is still important to today’s home buyers, but the sheer volume of information available has made them more aware of how a home's features can impact their lifestyle."

So, how are Canadians judging your home?

Home buyers want “Layout, location, location.”

Canadians say that layout is the most important consideration when selecting a home (27%), even over location factors such as the desirability of the community (26%) or commute distance (12%). Layout also has the strongest impact on their first impression of a house (39%) while a home's size carries much less weight (11%).

The survey also uncovers that buyers are willing to renovate for looks but not for repair. Only 13% of Canadians view the need to renovate rooms as a major home buying deterrent. Yet, 30% will walk away from a purchase if they notice just a small amount of water damage, even when the costly issue of outdated plumbing or electrical facilities (29%) is considered.

When it comes to homes, Canadians are clean freaks.

If your house has old flooring, just make sure it’s spotless. Uncleanliness tops home buyers' turn off list (60%), whereas dated flooring (40%) or bold paint colours (18%) have much less impact.

The Goldilocks’ effect: Buyers most driven to find a home that fits just right.

40% of Canadians say their number one motivation to buy a house is to "better fit a new life stage," followed by the desire to "have a home of their own" (29%) and “because it’s a smart investment” (just 10%).

Size matters to millennial home buyers, boomers have bigger concerns.

Millennials look more at the face value of houses, including square footage (millennials 9%, boomers 4%) and room count (millennials 12%, boomers 3%). In contrast, boomers are more concerned with lifestyle factors, such as how well the space is laid out (millennials 18%, boomers 34%) or if it’s located in a desirable community (millennials 18%, boomers 30%).

For boomer buyers, it's what's inside that counts.

Boomers are less likely to be turned off by a home's cosmetic features, such as dated flooring (millennials 51%, boomers 36%). This demographic, who may be settling in for retirement or downsizing, seek homes that won't cost them time or money in the long run. Boomers prefer homes with energy efficiency upgrades (millennials 29%, boomers 54%) and are more likely to avoid ones with outdated plumbing or electrical facilities (millennials 23%, boomers 32%).

Canadian home buyer desires from coast to coast:

  • Why buy a home? Atlantic Canadians view homeownership as a smart investment.
  • “Home of my own” instinct tops Quebec residents’ motivations to buy property.
  • Dated décor turns off Ontario home buyers.
  • Prairie home buyers seek neighbourhood and house to fit their families.
  • Albertan home buyers focus on “layout over location.”
  • BC home buyers are property psychic, avoiding costly future expenses.

“Knowing your buyer can mean the difference between getting the best price for a home or missing opportunities,” said Shyiak. "In-depth knowledge of each community's unique needs has distinguished our agents’ service and their clients’ success."

The CENTURY 21 Canadian Home Critics Survey delves into home buyers' mindsets to help consumers and sellers make the best decisions for their needs. 


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