Hamilton-Burlington Real Estate News from Laura Doucette February 2018   

 
It's important to be aware of the latest home trends, especially if you're looking for ways to make your home more appealing to buyers. This month’s article outlines some of the popular home trends for 2018.

There's also some great advice on how to maintain your smoke alarms as well as a website that will challenge your brain and donate to charity at the same time!

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

All the best,
Laura

In this issue...
The Hamilton/Burlington Real Estate Market Update 
A bit of a mid-winter chill on January sales.

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 660 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in January, 27.2 per cent fewer than the same month last year and 12.5 per cent lower than the 10-year average for the month.

All property listings were 6.3 per cent higher than the same month last year and 22.3 per cent lower than the 10-year average.

“We definitely saw a real estate market hit by the winter chill,” said RAHB CEO George O’Neill. “Both listings and sales were considerably lower than the 10-year average for the month of January. Even so, with more listings at the end of the month than last year, we have a more balanced market, with a sales-to-new listings ratio of 56.7 per cent and over three months of listing inventory for the residential market.”

Seasonally adjusted sales of residential properties were 30.6 per cent lower than the same month last year, with the average sale price up 4.2 per cent for the month. Seasonally adjusted numbers of new listings were 6.7 per cent higher than January of 2017.

Overall residential sales of 627 units were 27.1 per cent lower than January last year. Residential freehold sales were 28 per cent lower than the same month last year while sales in the condominium market were 23.7 per cent lower.

The median price of freehold properties increased by 7.8 per cent over the same month of the previous year while the median price for condominium properties increased by 5.8 per cent compared to the same period.

The average price of freehold properties was virtually the same as in January 2017; the average sale price in the condominium market increased by 6.9 per cent compared to the same period.

Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a REALTOR® for information about your area or property.

“The most dramatic changes from last year to this are the number of days on market and the end of month listing inventory,” said O’Neill. “Last year we had few properties available so they were being snapped up quickly, while this year, with more listings on the market, buyers generally have more time to comparison shop.”

The average number of days on market increased to 46 days from 31 days in the freehold market and increased to 38 days from 28 days in the condominium market, compared to the same month last year.

“While it is hard to know for sure, the new mortgage stress test that became effective January 1, 2018 may have affected sales for the month,” noted O’Neill. “After an initial drop in sales after the April announcement of the Ontario Fair Housing Plan, sales were higher than the 10-year average again for the last three months of last year. Now, after the second government policy has come into effect, sales have dropped off once more. Whether this is a lasting pattern is still to be seen.”

Hot Home Trends for 2018 
Curious about what’s trending in homes and gardens this year?

It’s that time of year when homeowners are thinking about revamping and refreshing their space.  Here are a few of the latest trends and styles that are gaining steam:

  1. Ziggity Zag - Geometric patterns are making a comeback! It could be as simple as adding a few accent pillows or for a bolder statement, consider some patterned wallpaper.

  2. Concrete Ideas - This versatile material is becoming increasingly popular for sinks but can also be used in more unique ways such as furnishings, wallcoverings and tile.

  3. Sleep Easy - Embrace minimalist bedrooms this year with soothing neutrals and plain furniture pieces. Keeping the space simple will help you enjoy a restful night’s sleep.

  4. Full House - Multigenerational living is a major home design trend for 2018. Additional kitchens, basement renovations, and seperate entrances are just some of the ways homes are reflecting this trend.

  5. The Heart of the Home - Homeowners are injecting warmer, brighter tones on their kitchen walls and cabinets. Sinks made with materials like stone, copper, concrete or granite will also steal the spotlight in 2018.

If you're thinking about breathing some new life into your home with a new year’s makeover, be sure to take the latest trends into account during the planning stage. Hopefully these ideas have given you inspiration to inject some new style into your home!

Smoke Alarm Smarts 
Smoke detectors are important but they’re often overlooked.

Countless tragedies are prevented each year by smoke detectors. Here are a few tips to ensure your smoke detectors are in full working order:

  1. Test each alarm regularly by pressing the test button until the alarm sounds.

  2. Blow the dust out of the alarm whenever you check or change the batteries.


  3. Don't "borrow" the batteries for the TV remote as you'll likely forget to replace them.

  4. Smoke alarms should be replaced at least every ten years to ensure proper working order.

  5. Don't install alarms near windows or doors as drafts could stop smoke from reaching the alarm system.

  6. There should be at least one alarm installed on each floor including the basement and preferably every bedroom.

Alarms can be hard wired, battery powered or preferably a combination of both. Interconnected smoke alarms are best because when one alarm goes off, they all do. If you have any questions, your local fire department will be more than happy to help.

Educate and Donate 
Smarten up and end hunger, a few grains of rice at a time!

Next time your kids are on their devices, send them over to www.FreeRice.com where they can learn and donate at the same time!

Users answer multiple choice questions on a range of subjects including math, language, geography and science.  When a question is answered correctly, 10 grains of rice are donated via the World Food Program.

These questions aren’t just for kids; in fact, anyone can benefit from this game as you can adjust the difficulty level. The vocabulary section will definitely give you some mental stimulation so it’s a win-win!



PS Are you sick of scouring the paper and MLS sites looking for homes?  Tired of playing telephone tag with agents only to hear the home's already sold?  Sit back, relax and let me do the work for you!  Just visit my website and check off the features you're looking for.  Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home.


Not meant to solicit clients already under contract.