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In 2017, seven of the top 10 most expensive condo markets in Canada were found in B.C. Vancouver was the most expensive market, with a median condo price of $619,000, followed by five other B.C. cities. Toronto came in seventh on the list with a median condo price of $440,000. Aurora and Burlington are the only other two Ontario municipalities in the top 10.

Teranet Market Insights has your up-to-date Canadian housing information.

See the full report: https://www.teranet.ca/commercial-solutions-blog/march-2018-teranet-market-insights-report-is-here/ or call Teranet today at 1-866-237-5937.

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Normally, springtime is when the Canadian real estate market starts to heat up – just like the weather. As the snow melts, more prospective buyers come out of hibernation and those who have spent the winter considering listing their home are more likely to put it on the market.

In 2018, however, experts are predicting the Canadian real estate market will remain cool in spring due to new mortgage rules and increasing interest rates. While this isn’t a certainty, it does warrant taking a closer look at your spring real estate marketing approach. Even if you’re selling real estate in an area that’s unaffected by the potentially cooling market, springtime can be the perfect time of year to dust off your marketing plan.

Just like you spring clean your house, having a proverbial spring cleaning plan for your real estate marketing can help you evaluate where your efforts are going and how effective they are. You likely have a bucket of tools for spring cleaning your home — sprays, mops, rags, and the like — but do you have a bucket of tools for your spring marketing?

The following may be tools you want to add to your real estate marketing:

  1. Property Details Report

This report from GeoWarehouse contains valuable information such as the Land Registration data, MPAC assessment, property ownership, sales history, property images, and more. It can be used when determining a property’s market value and is completely customizable.

  1. Demographics Report

This GeoWarehouse report is just what it sounds like — it tells you about who lives in a particular neighbourhood. Information includes age distribution, marital status, structural types of housing, owned/rented properties, average household income, and much more.

  1. Client Report

The Client Report from GeoWarehouse gives you the best of ALL worlds. It contains the information that is included in the Property Details Report, Neighbourhood Sales and Demographics Reports, along with new options such as Market Statistics. Like other GeoWarehouse Reports, it is completely customizable and doubles as a great sales tool. Many real estate professionals use the Enhanced Sales Report as a client-facing document and marketing tool.

Using tools in your real estate marketing, such as the ones provided by GeoWarehouse, can help you glean valuable information to assess your properties and neighbourhoods. In turn, you can evaluate your marketing plan to either a) gain peace of mind that your efforts are being directed in the best possible way, or b) find new avenues to focus your marketing even more.

GeoWarehouse’s tools offer data that can make marketing for real estate more effective. To see all of them, visit www.geowarehouse.ca.

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Staying on top of the latest real estate trends is important. In a recent report on international activity in U.S. residential real estate, a new trend seems to be surrounding Canadians snapping up a record number of properties in the United States at record prices. What’s going on?

The 2017 Profile of International Activity in U.S. Residential Real Estate report, released by the American National Association of Realtors, indicated foreign investment in American housing is at an all-new high, mainly because of a substantial increase in sales dollar volume from Canadian buyers.

The U.S. is seeing a large rise in out-of-country buyers according to the report, which also shows exponential growth in both the volume of foreign buyer transactions and the average price paid.

There are two foreign buyer types, resident and non-resident. Resident buyers have immigrated to the U.S., or have a long-term visa. Non-resident buyers use the home on occasion, maybe legitimately so. Yet, more often, they are just property speculators. According to the NAR’s report, most foreign buyers that come from China, India, and Mexico were resident buyers. Buyers from Canada and the United Kingdom were primarily non-residents.

With Canada’s housing prices remaining steady, the main reason for this trend in Canadian real estate seems to be that Canadian buyers want cheaper, more affordable housing to invest in – investments that some Canadian buyers can’t find at home. The NAR report notes that Canadians saw a rapid rise in domestic prices versus the rise in prices in the U.S. which could explain the attraction for Canadian buyers.

Between April 2015 and March 2016, foreign buyers picked up more than $100 billion in residential property – that’s almost 215,000 residential purchases in the United States. Another interesting fact from the report is that houses purchased by foreign buyers were generally priced higher than the median value of all U.S. homes. Chinese buyers purchased nearly 30 billion dollars’ worth of property. Canadians came in second with a record $19 billion worth of U.S. property purchased.

However, of all the foreign buyers, Canadians are the least likely to actually take up residency according to the report. Most are purchasing for a vacation home or property investment, with only a third planning to make the move. Another theory is that, after selling homes in markets such as Toronto and Vancouver, Canadian buyers find themselves with an abundance of capital, and with the more affordable options in the U.S., buyers can do more with that capital. A number of those are retirees moving to some of the top retiree states – Florida, Arizona, and Texas.

To learn more about this real estate trend, you can read NAR’s report here: https://www.nar.realtor/

At GeoWarehouse, we make buying and selling homes in Canada far easier. Find out more about the various features by visiting www.geowarehouse.ca today.

SOURCE: http://globalnews.ca/news/3611104/with-prices-at-home-surging-canadians-have-been-snapping-up-u-s-real-estate-en-masse/

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July 11, 2016

geo2The first quarter of 2016 has closed so we thought, what better time to recap Canadian housing numbers? A good starting point is the Teranet – National Bank House Price Index™ (HPI). The Teranet National Bank House Price Index reports the rate of change of Canadian single-family home prices.

We like to rely on this index for two reasons:

  1. Where the data comes from – data is derived from property records of public land registries – which is the most accurate source for land data.
  2. Coverage – the HPI covers 11 major Canadian Cities – Victoria, Vancouver, Calgary, Edmonton, Winnipeg, Hamilton, Toronto, Ottawa, Montréal, Québec and Halifax.

Here is how Q1 played out:

  • Jan 2016 – Home prices dropped by 0.1%
  • Feb 2016 – Home prices increased by 0.6%
  • Mar 2016 – Home prices Increased by 0.8%
  • Q2 Teaser: April 2016 – Home prices increased by 1.2%

Good news for real estate sales professionals – 3 out of 4 months saw increases. In fact, the past 3 months consecutively have shown increases.

The Vancouver and Toronto markets continue to fuel the market with red hot increases to property values as evidenced by house price indices across the board. The average price of a single family detached home in Canada was widely reported to have soared over 1 million dollars coming into 2016 with Canada’s average recently reported by CBC to be over $500,000 – you can read more on this here: http://www.cbc.ca/news/business/crea-house-prices-march-1.3537143.

Many have speculated that foreign investment is, at the least, behind what seems to be a boom in British Columbia, to the point where the government has even expressed concerns over supply vs. demand. Here are some interesting articles on the topic to whet your appetite:

Meanwhile, in Toronto, soaring house prices are pushing buyers to look outside of the city and we don’t just mean in the GTA. Toronto’s market has led to booms in Hamilton, Barrie and other cities that are not considered the GTA.

No doubt that the Bank of Canada maintaining the incredibly low lending rate of 0.5% is helping as well. With a strong first quarter, all indicators seem to point towards a strong spring and summer in this ever exciting Canadian real estate market. Let’s keep our fingers crossed that things continue to grow as they have been over the last few months!

For more on the Teranet – National Bank House Price Index™ please visit: http://www.housepriceindex.ca/.

Want to take advantage of the tools that give you a bigger piece of the action? Visit www.geowarehouse.ca today.

 

 

 

 

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