Brampton Housing Market Archives

Estate Sales: A Detailed Six-Month Overview to Maximize Your Profit

07/2/24 6:06 AM

Navigating the decision to sell a family home can be overwhelming. Whether you’re downsizing, relocating, or managing an estate after a loved one’s passing, an estate sale can provide a strategic way to liquidate assets efficiently. Understanding the real estate market trends over the past six months can help you make informed decisions and maximize your profit. In this blog, we’ll delve into recent estate sale statistics for the Greater Toronto Area (GTA) and provide expert advice on conducting a successful estate sale.

Understanding Estate Sales

What is an Estate Sale?

An estate sale involves selling most or all of an individual’s possessions, typically after significant life events such as a move, divorce, or death. These sales are often managed by professional estate sale companies that specialize in appraising, organizing, and selling items ranging from everyday household goods to high-value collectibles.

Benefits of an Estate Sale

Financial Efficiency: Generate significant revenue by selling valuable items that might otherwise go unused.
Simplification: Reduce the burden of managing a large number of items during a life transition.
Equitable Distribution: Ensure fair distribution of assets among heirs in the case of estate settlements.

Market Trends: A Six-Month Review

Understanding recent market trends is crucial for timing your estate sale to maximize profit. Here’s an overview of the estate sale market in the GTA over the past six months, focusing on key statistics and changes.

Estate Sales in Toronto:

January 2024:
- Total estate sales: 38
- Average value per sale: $23,000
February 2024:
- Total estate sales: 40
- Average value per sale: $22,500
March 2024:
- Total estate sales: 42
- Average value per sale: $24,000
April 2024:
- Total estate sales: 43
- Average value per sale: $23,500
May 2024:
- Total estate sales: 44
- Average value per sale: $24,500
June 2024:
- Total estate sales: 45
- Average value per sale: $25,000

Estate Sales in Ontario:

January 2024:
- Total estate sales: 200
- Average value per sale: $18,000
February 2024:
- Total estate sales: 205
- Average value per sale: $18,500
March 2024:
- Total estate sales: 210
- Average value per sale: $19,000
April 2024:
- Total estate sales: 215
- Average value per sale: $19,500
May 2024:
- Total estate sales: 218
- Average value per sale: $20,000
June 2024:
- Total estate sales: 220
- Average value per sale: $20,000

Key Trends and Insights

1. Increasing Popularity

The steady increase in the number of estate sales from January to June indicates growing popularity as a means of asset liquidation.

Rising Average Value

Both Toronto and Ontario have seen a gradual rise in the average value of items sold per sale, suggesting strong demand for high-quality estate sale items.

Seasonal Variations

The data shows a slight dip in sales during the colder months (January and February), with a steady increase as the weather improves, indicating a seasonal influence on estate sales.

GTA Housing Market Overview (May 2024)

Detached Homes: $1,506,675 (3% decrease from May 2023)
Semi-Detached Homes: $1,173,819 (2% decrease from May 2023)
Freehold Townhouses: $1,040,141 (7% decrease from May 2023)
Condo Apartments: $730,815 (2.4% decrease from May 2023)

This statistical overview helps set the context for the real estate market’s condition, which directly impacts estate sales.

Preparing for an Estate Sale

Hiring Professionals

One of the first steps in preparing for an estate sale is hiring a professional estate sale company. These experts can handle everything from appraising and pricing items to organizing and marketing the sale, ensuring a smooth process and fair market value for items sold.

Organizing and Appraising

Professional organizers will:

Inventory Items: Create a comprehensive list of items to be sold.
Appraise Items: Determine the value of each item, ensuring high-value items are priced appropriately.
Set Up the Sale: Organize items appealingly to attract buyers.

Marketing the Sale

Effective marketing is crucial for a successful estate sale. Professional estate sale companies will:

Advertise Locally and Online: Use various platforms to reach potential buyers, including social media, estate sale websites, and local classifieds.
Highlight High-Value Items: Emphasize unique and valuable items to attract serious buyers and collectors.

Conducting the Sale

Managing the Event

During the sale, professionals manage all aspects of the event, including:

Customer Service: Assisting buyers with questions and facilitating transactions.
Security: Ensuring the safety of items and managing crowd control.
Negotiations: Handling price negotiations to maximize returns.

Post-Sale Activities

After the sale, the estate sale company will:

Clear Out Remaining Items: Arrange for the donation or disposal of unsold items.
Final Settlement: Provide a detailed account of the sale and disburse proceeds to the family or estate.

An estate sale is a practical and efficient way to liquidate assets, whether due to relocation, downsizing, or settling an estate. By understanding the nuances of estate sales and staying informed about market trends in Toronto and Ontario, families can make informed decisions to maximize the benefits of their sales. Engaging professional estate sale services ensures a smooth process and optimal results, providing peace of mind during a challenging time.

Recommendations

For those considering an estate sale, here are a few tips:

Start Early: Give yourself time to organize and prepare for the sale.
Hire Professionals: Engage experienced estate sale companies to handle the details.
Stay Informed: Keep abreast of market trends to time your sale for the best results.

By following these steps, you can confidently navigate the complexities of an estate sale and ensure you achieve the best possible outcome for your family’s assets.

Citations

“Data sourced from the Greater Toronto Area (GTA) Housing Market Overview, May 2024, provided by Wahi: [link to source]

Monthly estate sale statistics in Toronto and Ontario: Realtor.ca, Wowa.ca, Stashestates.com, Zolo.ca, TRREB.ca, and other market analysis websites.”

Brampton Real Estate Market Performance in 2024

01/5/24 10:12 AM

Over the past years, Brampton has grown as a center for economic growth and evolved as the best place for immigrants across Canada. With a culturally tolerant and accepting community, real estate has thrived in the city and will continue to grow in 2024, offering newcomers more diverse housing options. the city has a range of flats, rentals, studios, condos, and more in a neighborhood that best suits anyone’s needs. Brampton is the ninth-largest municipality in Canada and has come a long way from simply being a small town today. With the soaring inflation and increased interest rates at an all-time high, Brampton maintained its market position in 2023 with much less market activity than in 2022. There has been a dip in sales across the Brampton housing market in 2023 by over 50% compared to 2022.

According to statistics released by the Toronto Regional Real Estate Board (TRREB), both sales and average prices climbed each month in Brampton between January and May after bottoming out in December with an average sale price for all dwelling types combined of $981,920 across just 268 transactions.

Through the first five months of 2023, Brampton’s combined average real estate price had climbed 13.1 percent to $1,111,067 for May, with monthly sales increasing 176.9 percent to 742 transactions over that time.

The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates, pushing many would-be buyers to wait on the sidelines until purchasing makes more financial sense.

For those who are in a position to make a home purchase now, there are noticeably more homes to choose from compared to last year. Inventory levels saw another nice boost in November, with 10,545 new listings coming on the market, bringing the number of active listings up to 16,759 — a 40.7% increase from November 2022.

Renting in Brampton

Because of the preferred city by many immigrants for its growing suburbs, Brampton real estate is a comparatively more expensive market to rent. Brampton cracked the top 10 of the most expensive cities to rent coming in at No. 9, and had the single largest increase in rental rates compared to the same time last year.

Other, more expensive Ontario cities in the top 10 include Etobicoke with an average one-bedroom monthly rental coming in at $2,238, North York at $2,249, and Mississauga at No. 4 on the list at $2,364 for a one-bedroom and $2,832 for a two-bedroom rental.

Across Canada the average asking rents for purpose-built and condominium apartments rose above $2,000 for the first time in July, reaching $2,008 last month.

How You See Greenbelt Developments relation With Housing Shortage

08/14/23 3:59 AM

In recent news, Ontario’s Greenbelt has been at the center of attention due to the selection of protected land for housing development. While the process has raised concerns, it’s worth exploring how this development could potentially impact the real estate landscape in Ontario. In this blog post, we’ll delve into the positive aspects of these developments and their implications for the real estate business.

Addressing Housing Shortages: The expansion of housing into Greenbelt areas can contribute to addressing housing shortages in Ontario. As demand for housing continues to grow, the availability of new land for development can ease the pressure on the housing market. This, in turn, could lead to more diverse and affordable housing options for residents.
Increased Housing Supply and Choice: The introduction of new housing developments provides buyers with a broader array of options to choose from. Whether it’s a single-family home, townhouse, or condominium, these developments can cater to various preferences and budgets. Increased choice can result in a healthier, more competitive real estate market.
Job Creation and Economic Growth: Real estate development has a cascading effect on the economy. New construction projects create jobs for builders, contractors, architects, and various other professionals. Additionally, these projects can lead to increased economic activity in the surrounding areas, including retail and services.
Community Infrastructure and Amenities: As new housing developments are planned, community infrastructure and amenities often follow suit. Schools, parks, shopping centers, and recreational facilities are frequently integrated into these developments. This can enhance the overall quality of life for residents and contribute to the growth of thriving neighborhoods.
Investment Opportunities: The introduction of new developments can present lucrative investment opportunities for real estate investors. Early investment in these emerging areas could yield significant returns as the neighborhoods evolve and grow.
Revitalizing Undeveloped Areas: Transforming previously untouched Greenbelt land into vibrant communities can breathe new life into these areas. The revitalization of underutilized land can lead to increased property values and rejuvenated neighborhoods.
Supporting Sustainable Practices: Many modern real estate developments prioritize sustainable building practices. Green technologies, energy-efficient designs, and eco-friendly amenities are often integrated into these projects. This commitment to sustainability aligns with the broader global trend toward environmentally conscious living.

While the process of selecting Greenbelt land for housing development in Ontario has been under scrutiny, it’s important to recognize the potential positive impact on the real estate landscape. The expansion of housing options, increased housing supply, job creation, community development, and investment opportunities are all factors that can contribute to a thriving and dynamic real estate sector. As these developments unfold, it’s essential to strike a balance between growth and responsible land use to ensure a brighter future for Ontario’s communities. Please share your valuable comments.

Source: https://advisorsavvy.com/housing-crisis-canada/

Navigating the Challenging Housing Market with Positive Possibilities for Buyers and Sellers

07/18/23 9:16 AM

In recent times, the property market has experienced significant fluctuations, with policy interest rate hikes causing a downturn in home sales. This might paint a bleak picture at first glance, but in reality, there are numerous positive possibilities that can arise for both buyers and sellers in such a turbulent market. In this blog post, we’ll explore some of the best strategies and options to stay afloat and thrive despite these apparent hardships.

1. Staying Options – Making the Most of the Situation

In a challenging market, staying options become one of the best opportunities for home sellers and buyers. For many, this might mean holding onto their current property until favorable market conditions prevail. Here are some ways to make the most of the time you have while the market improves:

Home improvement: Use this time to make valuable improvements and renovations, thus increasing your property’s value when it comes time to sell.
Renting out: If you’re a homeowner with the ability to rent out your property in the meantime, this could be a great way to generate some income while waiting for the right time to sell.
Building equity: For buyers, this period allows for more time to save up and build equity to put towards a future property when the market stabilizes or declines in housing market.

2. Low Sales – A Blessing in Disguise for Buyers

With fewer homes selling due to the current market situation, buyers have a unique advantage. The low volume of sales provides ample time for potential buyers to thoroughly research and choose the right property that suits their needs and investment goals. Buyers can utilize this opportunity to:

Shop around: Take advantage of the reduced competition to carefully inspect various properties, ultimately finding the best fit in terms of neighborhood, amenities, and price.
Negotiate: A reduced number of buyers in the market increases your bargaining power when it comes to negotiating property prices in housing market.
Secure financing: While the market is slow, buyers can take the time to secure the best mortgage or financing options to ensure a smoother transaction when they eventually find the perfect property.

3. The Power of Waiting – Seizing Opportunities for Sellers

Though it may appear counterintuitive, the slow market can also benefit sellers by allowing them to strategize and seize optimal opportunities when they present themselves. Some actionable steps for property sellers during this time include:

Market research: Conduct thorough research on the current market dynamics and trends, as well as forecasted market changes. This will provide valuable insights and guidance on the right time to sell.
Professional advice: Seek counsel from industry professionals such as real estate agents, property managers, and financial advisors to help determine the best course of action for your unique situation.
Marketing: Use this time to create a strong marketing campaign for your property, ensuring that it stands out and attracts the right kind of attention from potential buyers.

Be Patient In Current Housing Market

Although the current down real estate market offers its fair share of challenges, it also presents unique opportunities for both buyers and sellers to emerge victorious. By carefully re-evaluating your goals, staying informed on market trends, and being patient, you can potentially turn the tide in your favor and achieve what might have seemed impossible in this seemingly unfavorable climate.

Boost Property Value, Top Five Home Improvement Trends In Real Estate Market

07/15/23 7:10 AM

Looking to enhance your property’s value? Investing in strategic home improvements can be the key to increasing your home’s worth significantly. In this blog post, we’ll explore the top home improvements that can add value to your property, ensuring you reap the rewards in the long run. At Team Arora, with our extensive experience in the real estate market, we can provide you with even more valuable insights on maximizing your property’s potential.

Top 5 Key Points

Curb Appeal Upgrades
Modern Kitchen Overhaul
Luxurious Bathroom Remodeling
Energy-Efficient Solutions
Smart Home Technology Integration

Curb Appeal Upgrades

Curb appeal is the first thing potential buyers notice about your home. Making a positive first impression can significantly impact their perception of your property’s value. Start with simple yet effective upgrades like freshening up your landscaping, planting colorful flowers, and adding new exterior lighting. Repaint your front door and trim for a quick refresh, and consider installing a stylish and secure front gate or fence to boost your home‘s overall appeal.

Modern Kitchen Overhaul

The kitchen is often considered the heart of a home and a significant factor for potential buyers. An outdated or dull kitchen can be a major turnoff, while a modern and functional space can impress and elevate your property’s value. Consider investing in new energy-efficient appliances, granite or quartz countertops, and stylish cabinetry. Open concept designs are also popular as they create a sense of spaciousness and enhance the flow of the home.

Luxurious Bathroom Remodeling

Buyers seek bathrooms that offer both comfort and luxury. Transform your bathrooms into spa-like retreats by upgrading fixtures, installing rainfall showerheads, and adding elegant freestanding bathtubs. Incorporate quality materials like marble or mosaic tiles to add a touch of opulence. Proper lighting and ample storage space are essential elements that contribute to a higher perceived value of the property.

Energy-Efficient Solutions In Real Estate Market

Sustainable and energy-efficient homes are gaining popularity among buyers. Not only do these upgrades help the environment, but they can also significantly reduce utility costs, making your property more attractive to potential buyers. Consider investing in energy-efficient windows, LED lighting, and a smart thermostat. Adding solar panels is another excellent way to increase your home’s value and appeal to eco-conscious buyers.

Smart Home Technology Integration

Welcome to the future of living! Smart home technology can add a touch of modernity and convenience to your property. From voice-controlled virtual assistants to automated security systems, integrating smart technology enhances your home’s appeal and sets it apart from the competition. Buyers appreciate the added safety, energy efficiency, and convenience that smart home features provide.

Investing in the right home improvements can have a substantial impact on your property’s value and marketability. Whether it’s enhancing curb appeal, upgrading the kitchen and bathrooms, embracing energy-efficient solutions, or integrating smart home technology, these improvements can set your property apart from others and attract more potential buyers. Team Arora’s expertise in the real estate market ensures you have access to the most effective strategies to maximize your property’s potential. Start renovating today, and let your property’s value soar to new heights. Contact Team Arora for even more interesting information on how to make the most out of your investment. With our long-term experience, we can guide you towards the best decisions to ensure a successful and profitable real estate venture.

Renovations That Add Value to Your Property

07/3/23 9:43 AM

Are you considering buying a house, selling your current one, or just looking to give your residence some much needed upgrades? If so, there are certain renovations you can make that will help improve the value of your property. From renovating kitchens and bathrooms to updating landscaping and outdoor living spaces; investing in the right home renovation projects can pay off when it comes time to sell or refinance. In this blog post we’ll explore simple ways to maximize returns on investments with short-term renovations that add long-term benefit – all while making your house beautiful!

Investing in Quality Materials – How to Choose the Right Ones for Your Renovations

When it comes to home renovations, investing in quality materials is essential if you want to achieve a finished product that looks and functions as it should. But with so many options out there, it can be overwhelming to figure out what to choose. One key factor to consider is the durability and longevity of the material, as well as its overall aesthetic appeal. For example, if you’re renovating a kitchen, you might want to opt for granite countertops or stainless steel appliances that will withstand the wear and tear of everyday use. On the other hand, if you’re redoing your bathroom, you might want to choose tile or stone that can hold up to moisture and humidity. Ultimately, the right choice will depend on your personal style and functional needs, as well as your budget. So take some time to explore your options and don’t be afraid to ask for advice from professionals in the industry. Investing in quality materials will pay off in the long run, both in terms of your enjoyment of your space and the potential value it could add to your home.

Making Minor Updates That Make a Big Difference

Sometimes, it doesn’t take major overhauls to boost the appeal of your website, social media page, or any other digital platform. A few minor updates can make a significant difference to your audience’s experience. How about changing the font, incorporating more high-quality images, or adding a few easy-to-operate navigation links? These small updates may seem insignificant, but they can make your platform look more polished and professional while boosting user engagement. Plus, you won’t need to spend lots of time or money making these minor updates. So, why not try some minor updates and watch as they make a big difference in your digital presence?

Maximizing Your Curb Appeal with Landscaping and Outdoor Lighting

When you’re looking to spruce up your home, one of the first things you might consider is the outside of your house. To make sure you’re getting the most out of your property, consider adding some landscaping and outdoor lighting. A well-thought-out approach to these elements can help maximize your curb appeal, making your home more inviting and attractive to potential buyers or visitors. Not only will this increase the perceived value of your property, but it can also make your home more enjoyable for you and your family. From planting flowers and bushes to adding spotlights and path lights, there are plenty of ways to transform your exterior space. So if you’re ready to take your home to the next level, start exploring some landscaping and lighting ideas today.

Upgrading Your Windows and Doors for Improved Efficiency

Upgrading your windows and doors might not be the most buzzworthy home improvement project, but it can have a significant impact on your energy bills. In fact, windows and doors can account for up to 30% of your home’s energy loss! By upgrading to energy-efficient windows and doors, you can improve your home’s insulation, which means keeping the warm air in during the winter and the cool air in during the summer. That translates to lower energy bills and a more comfortable home. Plus, with modern upgrades, you don’t have to sacrifice style for efficiency. You can choose from a variety of materials, colours and finishes to match your home’s aesthetic. So, whether you’re looking to save money or make your home more comfortable, upgrading your windows and doors is a smart move.

Installing New Flooring to Increase Home Value

If you’re looking for a way to increase your home’s value, consider installing new flooring! Not only can it completely transform the look of a room, but updated flooring can also make your home more appealing to potential buyers. There are plenty of flooring options to choose from, each with their own benefits and drawbacks. For a classic and timeless look, hardwood floors are always a great option. If you’re looking for something more durable and easy to maintain, consider going with tile or vinyl flooring. Whatever you choose, make sure to hire a professional to ensure the job is done right. With new flooring, you’ll be able to increase your home’s value and enjoy your updated space.

Prioritizing Kitchen and Bathroom Renovations for Maximum Impact

When it comes to renovating your home, the kitchen and bathroom are the two areas that can have the most impact on both the functionality and aesthetic appeal. However, prioritizing which one to renovate first can be a bit tricky. If you’re looking for a more functional upgrade, start with the kitchen. This area is often the hub of the home and is where meals are prepared and families gather, so investing in high-quality appliances, adequate storage, and durable surfaces can make a huge difference. On the other hand, if you’re looking to make a statement and add value to your home, a bathroom renovation can be the way to go. Upgrading your fixtures, adding updated tile or stone, and investing in a luxurious bathtub or shower can completely transform the space into a spa-like oasis. Ultimately, the decision of which to prioritize first comes down to your personal preferences and needs. Regardless of which room you start with, a well-planned renovation can add both functionality and value to your home.

With the right combination of quality materials, minor updates, and efficient upgrades, you can significantly benefit from increasing your property’s value through home renovations. Investing in the right materials is not easily done alone, so it’s important to research reviews, ask industry professionals, and be sure that whatever products you decide to include are usually built to last. This not only saves you money in the long run as repairs and replacements won’t be necessary for some years, but also helps improve your property value even further. At the same time, making a few minor changes here and there can also go a long way in improving your value without breaking the bank — such as adding landscaping and outdoor lighting for improved curb appeal or new flooring for easy updates. Ultimately though, if maximum impact from increasing property value is what you pursue then it is wise to prioritize kitchen and bathroom renovations as these projects tend to draw more attention. Nevertheless, bear in mind that whatever approach or project you decide on should align with both short-term desires and long-term goals!

What government can do to tackle the housing problem in Canada?

06/5/23 9:38 AM

Do you feel like buying a house in Canada has become an unreachable dream? With real estate prices continuing to skyrocket, it’s easy to feel overwhelmed and disheartened when considering entering the housing market. The good news is that Canada’s government can take measures to tackle the rising cost of real estate, leading to more affordable options for home buyers across the country. In this blog post we will explore what exactly the government can do to reduce costs in Canada’s current housing market and make homeownership a viable option for more Canadians. So if you’ve been dreaming about buying your first home but don’t know where or how to start, then keep reading!

The affordability crisis in Canada’s housing market

The affordability crisis in Canada’s housing market has been a topic of concern for many. With rising home prices and stagnant wages, many individuals and families find it challenging to own a home. The dream of homeownership is slowly becoming out of reach for the average Canadian. However, this is not just an individual concern, but a nationwide crisis. The increasing cost of homes is not only making it difficult for those looking to purchase a home but is also limiting the economic growth and development of the country. The government needs to take a stand and implement measures to tackle this crisis to ensure all Canadians have access to affordable housing, as it is the right of every citizen to have a safe and secure place to call home.

Suggestions for increasing the supply of affordable housing units

As housing prices continue to skyrocket, it’s becoming increasingly difficult for many people to find affordable places to call home. In order to combat this growing issue, we must take action. One solution is to increase the supply of affordable housing units. Whether it’s through the construction of new buildings or the creation of programs to incentivize landlords to offer affordable rents, we need to prioritize this issue. Affordable housing is not a luxury, it’s a necessity. It’s time for us to come together and find creative solutions to ensure that everyone has access to a safe and affordable place to live.

Invest in public housing projects and initiatives

Investing in public housing projects and initiatives is not only a morally sound decision but also a smart financial move. Providing safe and affordable housing to the most vulnerable in our society is crucial for social cohesion and economic growth. Moreover, public housing investments can have a ripple effect on local economies, creating jobs and boosting local businesses. By investing in public housing, we can ensure a better future for all, while also promoting economic stability and growth. Therefore, it is imperative that we prioritize public housing initiatives and take the necessary steps to make them a reality.

Increase the development of rental units

Rental properties are essential for individuals and families who are searching for a comfortable place to call home. The demand for rental units has never been higher, and it’s time for real estate developers to take notice. Increasing the development of rental units is not only essential for housing security but also for economic growth. By constructing more rental properties, we are not only providing individuals with an affordable and comfortable place to live, but we are also creating job opportunities and generating revenue for local businesses. Therefore, it is crucial for real estate developers to focus their efforts on expanding the availability of rental units to meet the rising demand.

Provide incentives for builders to create more affordable units

It’s no secret that the cost of housing is skyrocketing and causing considerable financial stress for many families. The local government can address this issue by providing incentives for builders to create more affordable units. With the right incentives, builders can be encouraged to take on affordable projects that will provide much-needed housing for low and middle-income individuals. The creation of affordable housing units is not only beneficial for the residents, but it can also increase economic growth in the area. By offering incentives such as tax breaks and subsidies, the local government can help to alleviate the housing crisis while promoting a robust economy. It’s time for action, and these incentives can be the first step toward creating a brighter and more affordable future for all.

Suggestions for improving demand for affordable housing units

It is no secret that affordable housing is in high demand but low supply. As a result, it is crucial to come up with innovative ways to increase the availability of affordable housing units. By endorsing government-backed policies and partnerships between public and private entities, we can make a significant impact on this issue. Additionally, community involvement can play a crucial role in improving demand for affordable housing. Advocacy groups, neighborhood associations, and grassroots organizations can help to educate and inform residents about the importance of affordable housing and its many benefits. By taking a collaborative approach, we can work towards a future where affordable housing is not a privilege but a right for all.

Offer tax benefits to lower-income households

Offering tax benefits to lower-income households is not just a compassionate act, but a smart economic move. By providing relief to those who need it most, we can help stimulate local economies and promote social equality. It’s no secret that people who struggle financially often have to make tough choices between basic needs like food, shelter, and healthcare. By reducing their tax burden, we can help these families make ends meet and free up resources to spend on necessities. Furthermore, boosting the purchasing power of lower-income consumers can help local businesses flourish, contributing to both economic growth and job creation. So, let’s not hesitate to offer tax benefits to those who are truly in need. It’s a powerful way to build a stronger, more equal society for all.

Create rent assistance programs for low-income individuals and families

It is abundantly clear that low-income families and individuals often struggle to make ends meet, particularly when it comes to housing expenses. Many are forced to choose between putting food on the table and paying for a roof over their heads. As a society, we have a responsibility to assist those in need and ensure that everyone has access to safe and affordable housing. That’s why creating rent assistance programs for low-income individuals and families is not only the right thing to do, it’s also the smart thing to do. By providing targeted support to those who need it most, we can help lift families out of poverty and create a more equitable society for all. Let’s make sure that no one has to choose between shelter and sustenance, and instead provide the support necessary for all individuals and families to thrive.

Top 3 Towns to Invest Based on The Latest Average Price Analysis

05/1/23 8:27 AM

The Canadian real estate market is a diverse landscape full of potential investment opportunities. In this blog post, we will examine the top three towns for investing in property based on the latest national average price analysis. Our top contenders are Windsor, Kingston, and Simcoe, each boasting impressive growth rates over the past three years. Let’s dive in and explore these towns and the reasons behind their success in the real estate market.

Windsor: The Diamond in the Rough with a 73% Growth in the Last Three Years

Why Windsor is the Best Town to Invest

Windsor has experienced a staggering growth of 73% in the past three years, making it the top town for property investment in this analysis. This impressive growth can be attributed to several factors:

Affordability: Windsor’s property prices are $174,000 less than the national average, making it an attractive option for investors and homebuyers alike.
Strategic Location: Windsor’s proximity to the United States and major highways provides excellent opportunities for commerce and economic growth, drawing in businesses and families alike.
Diverse Economy: Boasting a strong manufacturing sector and a growing tech industry, Windsor offers a diverse and flourishing economic landscape that attracts both residents and investors.

Windsor’s Heart: A Perfect Balance of Cultural and Commercial Living

Windsor is a city that offers the perfect balance between cultural and commercial living, which adds to its real estate appeal. The heart of Windsor, defined by its downtown area, is divided into five distinct neighborhoods: Ouellette Avenue, Pitt Street, University Avenue, and Chatham Street. Each of these neighborhoods is family-friendly and offers a variety of housing options to suit all budgets and preferences.

Furthermore, the downtown area borders the Detroit River to the North, Giles Boulevard to the south, Janette Avenue to the west, and Glengarry Avenue to the east, offering beautiful views of the river and ample green spaces like parks and trails.

Residents and tourists alike can enjoy a plethora of attractions, including vibrant art galleries, exciting events, and an abundance of shopping, dining, and entertainment options.

Kingston: The Rising Star with a 64% Growth in Three Years

Kingston comes in second place in our analysis, with an impressive growth rate of 64% in the past three years. With a minimum property price of $200,000 less than the national average, Kingston is also an affordable option for investors.

The city is known for its rich history, beautiful architecture, and bustling cultural scene. It’s also an important hub for education and healthcare, which adds to the attractiveness of the real estate market. With strong job opportunities and relatively lower living costs, it’s no surprise that Kingston has experienced such rapid growth in recent years.

Simcoe: An Emerging Town with 70% Growth in the Last Three Years

• Simcoe is a vibrant area with centuries of rich history and beautiful waterfront views.

• The local community is full of culture, with activities to keep everyone entertained, from camping and fishing to shopping in boutiques and attending shows.

• Nightlife options include wineries and restaurants for indulging in delicious meals with friends.

• Year-round, visitors can experience the charm of Norfolk parishes and create unforgettable memories.

Though not as well-known as Windsor and Kingston, Simcoe is an up-and-coming town that has seen a 70% growth in the past three years, making it the third-best town to invest in. With property prices $174,000 below the national average, it’s an attractive option for those looking to invest in an emerging market.

Simcoe is the largest community within Norfolk County and has vibrant agriculture and manufacturing industries. With a small-town charm, beautiful scenery, and an affordable housing market, there

Brampton’s Housing Market in 2023: What you need to know

03/10/23 1:00 PM

Brampton has become one of the most expensive suburban communities in Ontario. And it’s only getting hotter. Experts think this won’t change anytime soon and predict that residential prices will continue to rise at an exponential rate. Investors are rejoicing at this news- but will things stay hot forever?

Also read: Canada’s housing markets are finally moving back towards balance (June 2022)

About Brampton.

According to the latest census, it is the third largest city in Ontario and ninth-largest municipality in all of Canada. With a population of just over 649,000 people – this small town has grown quickly from what was once nothing but farmland. And despite being considered a suburb of Toronto, its growth shows no signs of slowing down anytime soon.

After setting new benchmarks for five consecutive months, this continued trend was evident yet again in January 2022 when Brampton set another new benchmark – now home prices are soaring. It doesn’t stop there though; the average selling price of homes sold in Brampton reached $1,367,444 – a 41% increase from last year and making it one of the most expensive housing markets in Canada. One more thing worth mentioning is that this is six consecutive months where they’ve broken all-time home price records.

Graph showing average sale price curves for detached, semi-detached, townhouse-style condos and apartment style condos in Brampton between December 2020 and December 2021. (Source)

However, detached houses comprise a higher percentage of the housing market in Brampton in comparison with Metro Vancouver and Toronto. The distribution of properties in each city plays a significant part in the overall average of price of homes. Condos, with lower average prices, comprised 36 percent in the Greater Toronto’s real estate market however only 6% of Brampton’s residential market at the beginning of 2022.

Examining specific types of property in the month of January, 2022 detached houses have the highest year-over-year increase, rising 41.4 percent over last year, and 13.4 percent compared to the previous month. The average price for selling a detached house in Brampton is currently $1,652,088, which is a record. This means that the median cost of a detached house has increased by $484,020 in the past year and $1953,325 over the last month.

The gains in annual prices of other types of property were also significant. Semi-detached houses had a 40 percent increase in year-over-year value and a 10% increase per month in the average price, whereas condo townhouses experienced an 42.5 percentage increase from year to year, and an increase of 9 percent per month in the average price. Freehold townhouses saw an increase of 38% in price year-over-year, and an 11.4 percentage monthly increase and condo apartments lag behind , with a cost increase by 30% year-over-year.

In analyzing average prices for sold for January 2022, we can see that the average sold price for a semi-detached house located in Brampton was $1,230,275. Freehold townhouses costing $1,129,851, condominium townhouses priced at $873,098, and condos with a price of $622,579.

Semi-detached homes were the sole type of property in Brampton that saw a year-over-year rise in sales. Sales of semi-detached homes increased by four percent over the course of the year to the 124th sales of January in 2022. While detached home sales fell by 21% year-over year to 313 sales. Freehold townhouse sales fell by 30% over the course of the year to 74 sales. Condo townhouse sales dropped 27% over the course of the year at 53 transactions, and condominium apartment sales dropped 24% from year-to-year, up to 38 units.

The supply of homes is still the main topic in Brampton’s real estate market, as inventory continues to decrease this month. In January 2022, there were 832 listings January 2022. This is lower by 13% from 961 listings added for January 2021. The 255 active listings as of the end of January 2022 is the 31.6 percent decrease year-over-year. The inventory of Brampton’s market for housing has decreased to 0.6 months, which makes one of the smallest of the GTA. The average price sold for homes located in Brampton is 15% higher than the median price of listing due to the fact that the average number of days on the market decreased to six days.

With homes sold within an hour and at 15% more than the price of listing The month of January 2022 proved to be a progressively competitive market Brampton buyers continue to battle for a smaller number of homes.

Market Trends

Median List Price$999K
Median Selling Price$1.1M
Listing-to-Selling Ratio105.11%
Price Change (Month)+3.96%
Price Change (Year)-3.98%
Average Days on Market12

Market Report Summary for April 2023

Updated May 17, 2023

In April 2022, there were 7,940 total residential transactions recorded in Brampton. However, in April 2023, this figure decreased to 7,531 transactions. This represents a year-over-year reduction of 5.2%. In other words, the total number of residential transactions in Brampton in April 2023 was 5.2% lower than the same month in the previous year.
Brampton’s average home sold price has declined by 26% since the beginning of the year as the housing market slows down.
On average, the price of a detached home decreased 10% in the past year, costing about $1.18 million dollars now.
The average semi-detached home price decreased by 1% over the past year to $939,000.
The average price for freehold townhouses remained the same from last year to this one.
On average, condo townhouses prices have increased by 1% in the last year to reach around $705k.
The average price of a condo apartment increased by 7% year-over-year, totaling $567k.