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Does your Home Still Match your Lifestyle?
When you purchased your current home, chances are it was a good match for your lifestyle. It had the space you needed, the features you wanted, and a location that worked for you.
But for most people, lifestyle and needs evolve through the years. Kids get older. Jobs or careers change. People take on new hobbies and other interests. As a result, the home that was ideal a few years ago may not fit with your current lifestyle. That doesn’t necessarily mean you need to shop for a new home! However, it may mean that it’s worth taking a look at the market and seeing what’s possible.
Think about the kind of home that would support your lifestyle today. Ask questions like:
- How many bedrooms do we need?
How easy is it to travel to work each day?
What special features do we want in our home? (Big backyard? Rec room? Quiet neighbourhood?)
What do we want nearby? (School? Playground? Walking and biking trails? Shopping? Entertainment? Golf?)
What else does our home need in order to support our lifestyle?
After asking yourself some of these key questions, ask other family members for their opinions too. You may, in fact, find that the property you have now is still ideal for your lifestyle.
If, however, your home is no longer a good fit, you have options. You can stay in your current home despite it no longer being ideal; you can make some changes (a renovation, perhaps); or, you can see what’s available in the housing market.
If you need help with any of these options, call today.
Looking to buy, sell, or invest? Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
May 2024 Real Estate Market Update
REALTORS® Association of Grey Bruce Owen Sound MLS® home sales reach plateau as new supply continues to rise.
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 276 units in May 2024. This was a moderate decrease of 8.6% from May 2023.
Home sales were 4% below the five year average and 16.1% below the 10-year average for the month of May. The average price of homes sold in May 2024 was $659,827, a modest gain of 2% from May 2023.
On a year-to-date basis, home sales totaled 980 units over the first five months of the year. This decreased by 4.9% from the same period in 2023.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $570,900 in May 2024, up modestly by 1.9% compared to May 2023.
The benchmark price for single family homes was $580,500, a minor increase of 2.1% on a year over-year basis in May. By comparison, the benchmark price for townhouse/row units was $457,800, a slight reduction of 0.5% compared to a year earlier, while the benchmark apartment price was $360,200, edging down 0.4% from year-ago levels.
The more comprehensive year-to-date average price was $647,872, up modestly by 2.5% from the first five months of 2023.
The dollar value of all home sales in May 2024 was $182.1 million, a decrease of 6.8% from the same month in 2023.
The number of new listings saw a sizable gain of 16.5% from May 2023. There were 685 new residential listings in May 2024. This was the largest number of new listings added in the month of May in more than five years.
New listings were 24.9% above the five-year average and 15% above the 10- year average for the month of May.
Active residential listings numbered 1,510 units on the market at the end of May, a substantial gain of 35.8% from the end of May 2023. Active listings haven’t been this high in the month of May in more than five years.
Active listings were 59.4% above the five-year average and 23.7% above the 10- year average for the month of May.
Months of inventory numbered 5.5 at the end of May 2024, up from the 3.7 months recorded at the end of May 2023 and above the long-run average of 3.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
(1) Sales / new listings * 100; compared to levels from previous periods. (2) Active listings at month end / monthly sales; compared to levels from previous periods. (3) Sale price / list price * 100; average for all homes sold in the current month.
Find more information and statistics at ragbos.com
Wondering how these numbers might impact your real estate plans? Whether you’re buying, selling, or just curious about market trends, I’ve got you covered! Let’s navigate the market together! Call today for a complimentary property valuation.
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
How to Decide if a Neighbourhood is Right for You
Say you’ve found a house for sale in an area that’s unfamiliar to you. How do you figure out if it’s going to be the ideal neighbourhood?
The first step is to take a walk. Stroll the neighbourhood and explore. If you get the chance, chat with homeowners and get their opinions of the area. Ask what they love about it. Also ask what they don’t like.
Next, determine how the neighbourhood is going to fit with your lifestyle. You’ll want to consider things like commuting routes, local amenities, schools, parks, shopping, etc. Google Maps is a great tool for this. Just turn on the satellite view and get a bird’s eye view of the area and its features.
Finally, get the latest data on neighbourhood characteristics such as noise, demographics, crime rates, and more. You’ll be surprised by how much data is available, and the valuable insights you can gain about what it’s going to be like to live there.
If the neighbourhood turns out to be a good fit, consider making an offer on that house!
Related: Tips for Settling into a New Neighbourhood
Looking to buy, sell, or invest? Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Elevate Your Home’s Appeal: Staging Tips for Every Room
Whether you’re gearing up to sell or simply craving a fresh look, staging is your golden ticket to creating an atmosphere that captivates potential buyers or guests alike. From the welcoming embrace of the foyer to the serene oasis of the bedroom, every space plays a crucial role in shaping the overall impression of your home. Let’s dive into staging tips tailored for each room:
Foyer
First impressions are everything, and your foyer sets the stage for what’s to come. Start by decluttering the space to allow for easy movement and a sense of openness. A statement mirror or artwork can add depth and visual interest. Don’t forget to illuminate the area with strategic lighting to create an inviting ambiance.
Living Room
The heart of the home, your living room should exude comfort and style. Begin by arranging furniture to promote conversation and flow. Plump up cushions and add throw blankets for a cozy touch. Fresh flowers or greenery breathe life into the space, while tasteful accessories like coffee table books or decorative trays add personality without overwhelming.
Kitchen
A well-staged kitchen can be a major selling point. Clear countertops of unnecessary clutter to showcase ample workspace. Invest in high-quality, matching appliances to create a cohesive look. A bowl of fresh fruit or a vase of flowers adds a pop of color and freshness. Consider staging baked goods to evoke the warmth of family gatherings.
Dining Room
Whether hosting intimate dinners or extravagant feasts, your dining room should embody sophistication and hospitality. Start by dressing the table with elegant linens and dinnerware. A statement chandelier or pendant light can elevate the ambiance. Set the scene with candles or a floral centerpiece to create an inviting atmosphere that begs to be enjoyed.
Bedroom
A serene and tranquil bedroom is essential for relaxation and rejuvenation. Make the bed the focal point with luxurious bedding and plenty of pillows. Keep decor minimal and cohesive to promote a sense of serenity. Soft lighting, such as bedside lamps or string lights, creates a cozy ambiance. Consider adding a seating area or reading nook for added functionality and charm.
Bathroom
Transform your bathroom into a luxurious retreat reminiscent of a spa getaway. Declutter countertops and invest in quality towels and bath mats in soothing hues. Incorporate calming scents through candles or essential oil diffusers. Fresh flowers or potted plants add a touch of nature’s tranquility. Don’t forget to ensure all fixtures are sparkling clean and in good repair.
Outdoor Spaces
Finally, don’t overlook the potential of your outdoor spaces. Whether it’s a sprawling backyard or a cozy balcony, staging these areas can significantly enhance your home’s appeal. Arrange outdoor furniture to create inviting conversation areas. Add pops of colour with vibrant cushions or potted plants. Consider setting the scene with ambient lighting or a crackling fire pit for cozy evenings under the stars.
The Importance of Staging
Staging is the secret weapon to maximizing your home’s potential and leaving a lasting impression on potential buyers or guests. By implementing these staging tips tailored for each room, you’ll elevate your home’s appeal and create an atmosphere that’s sure to charm and captivate. Remember, the key is to strike a balance between style and functionality, allowing potential buyers or guests to envision themselves living their best life in your space. Happy staging!
As your REALTOR®, I offer complimentary staging to ensure your property shines its brightest. Let me help you unlock the true value of your real estate.
Looking to buy, sell, or invest? Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Setting Emotions Aside When Selling
Imagine shopping for a used car. You find one that you like and while negotiating the price, the seller gets sentimental. He shares happy memories of family picnics, his kids’ soccer games and other adventures with the vehicle. Then he demands a higher price. After all, he couldn’t possibly part with it for anything less.
Are you likely to pay for his sentimental value? Probably not. Yet the same thing often happens when selling a home.
It’s normal for homeowners to form an emotional attachment to their property. It can be very difficult to watch their home being treated as a product with a price tag, and watch buyers stand in the living room discussing furniture arrangements. Emotions can get in the way of a sale. It can even cause some sellers to stay firm on a high price, when a reasonable offer within market value is received.
After all, as they say, ‘Home is where the heart is.’ So, when it’s time to sell your property, think about all the ways you will take your happy memories with you. Then, focus on selling for the best price within the current market conditions.
Looking to buy, sell, or invest? Let me help you find the true value in your real estate. Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Cleaning Tips for Instantly Improving Curb Appeal
As you may know, curb appeal refers to how your property looks from the street, where potential buyers first see it. Your home’s curb appeal can have a big impact on the sale of your property.
In fact, it’s not uncommon for a buyer to drive by a listing, rather than stop, because they don’t like what they see.
So, how can you improve your home’s curb appeal quickly? One way is to do some outside cleaning.
Start with the main entryway. Wash down the front door and sweep (or power wash) the front steps. It only takes a few minutes, but you’d be surprised by the impact it can have. Sweep or power wash your walkway too and you’ll improve the overall look of your home — sometimes dramatically.
Clean your front windows to brighten the look of your home’s facade. It doesn’t have to be an arduous chore. In fact, there are washing products available that attach to your garden hose. You don’t even need a ladder! Ask your local home improvement retailer for recommendations.
If you have hedges and shrubs, give them a trim. To keep your trimming level, use a wide board, or even a piece of cardboard, then cut to the desired height. Pull off any dead leaves or branches. Of course, also mow the lawn!
Finally, inspect your property from the street. Can you see anything else you can do to quickly improve the look? Do you notice anything that is unsightly or distracting, such as garbage bins that could be relocated?
Related: What Buyers Want to See when They Walk into a Room
Looking to buy, sell, or invest? Let me help you find the true value in your real estate. Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Susan’s Favourite Scenic Lookouts in Grey Bruce
From rugged cliffs to cascading waterfalls, this region is a treasure trove of natural beauty waiting to be discovered. Let’s dive into my top picks for the most awe-inspiring scenic lookouts that Grey Bruce has to offer!
Old Baldy Scenic Lookout
Nestled in the heart of Beaver Valley, the Old Baldy Scenic Lookout offers panoramic views that will leave you speechless. As you ascend the trail, surrounded by lush greenery and the sweet scent of wildflowers, you’ll soon reach the summit where the vista unfolds. The rolling hills, meandering rivers, and vibrant foliage create a postcard-perfect scene that captures the essence of Grey Bruce’s natural charm.
Skinners Bluff Scenic Lookout
Perched high above the crystal-clear waters of Georgian Bay, Skinners Bluff Scenic Lookout is a hidden gem waiting to be discovered. The trail leading to the lookout is a treat in itself, winding through a mixed forest teeming with wildlife. Once you reach the summit, you’ll be rewarded with sweeping views that overlook the forests below and islands of Colpoy’s Bay in the distance.
Lion’s Head Lookout
For a truly unforgettable experience, head to Lion’s Head Lookout, where dramatic cliffs meet the turquoise waters of Georgian Bay. The trail leading to the lookout is relatively easy, making it accessible to all ages and fitness levels. Once you reach the top, you’ll be greeted by the sight of rugged limestone cliffs plunging into the pristine waters below, creating a scene that epitomizes the raw beauty of Bruce County.
Eugenia Falls
Situated in the quaint Village of Eugenia, the Eugenia Falls Conservation Area sprawls across 23 hectares of the Niagara Escarpment, river valley, and upland forests. The hiking trail offers captivating views of the majestic 30-metre-high waterfall. Along the trail, you’ll also encounter a Cenotaph memorial and a cozy picnic shelter, making it the perfect spot to pause, reflect, and enjoy a leisurely picnic amidst nature’s splendour.
Experience the Magic of Grey Bruce
As a real estate agent and avid explorer, I’m passionate about showcasing the incredible beauty and lifestyle opportunities that Grey Bruce has to offer. Whether you’re a resident or visitor, these scenic lookouts are just a glimpse of what makes this region so special. From hiking and photography to simply soaking in the serenity, Grey Bruce’s scenic wonders never fail to inspire and captivate. So pack your sense of adventure and come explore my favourite scenic lookouts in Grey Bruce. Who knows, you might just discover your own slice of paradise along the way!
Don’t forget to check out visitgrey.ca and explorethebruce.com for more adventures and information!
Looking to buy, sell, or invest? Let me help you find the true value in your real estate. Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
What Buyers Want to See when They Walk into a Room
When buyers view your property, they’re likely to visit each room and look around. Their imagination is turned on high. Often, within just a few moments in a space, they’ll form an impression — ideally, a positive one! So, how do you ensure each room shows well? Here’s what buyers want to see:
Space
Buyers will often mentally fit their furniture into a room when they see it. So, make sure each room is uncluttered and staged in a way that showcases its spaciousness.
Functionality
Buyers want to see the room for what it is. So, if it’s a bedroom, but you’ve turned it into an exercise room, it might become a distraction to buyers. Consider restoring the room to its original purpose.
Themselves
Buyers want to imagine the room as part of their home, not yours. They want to see themselves in it. That’s why it’s smart to depersonalize the space as much as possible. For example, replace the family picture on the wall with a landscape print.
Anticipating how buyers will view each room will help you stage your property effectively.
Looking to buy, sell, or invest? Let me help you find the true value in your real estate. Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
April 2024 Real Estate Market Update
REALTORS® Association of Grey Bruce Owen Sound MLS® new listings continue to outpace sales, driving inventories higher.
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 239 units in April 2024. This was a small gain of 2.1% (five sales) from April 2023. Home sales were 6.3% below the five-year average and 18.3% below the 10-year average for the month of April.
The average price of homes sold in April 2024 was $658,132, down only 0.1% from April 2023.
On a year-to-date basis, home sales totaled 704 units over the first four months of the year. This decreased by 3.4% from the same period in 2023. The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $564,200 in April 2024, up modestly by 2.3% compared to April 2023.
The benchmark price for single family homes was $572,200, a minor increase of 2.4% on a year over-year basis in April. By comparison, the benchmark price for townhouse/row units was $496,100, a moderate gain of 4.2% compared to a year earlier, while the benchmark apartment price was $327,600, falling by 4.8% from year-ago levels.
The more comprehensive year-to-date average price was $642,940, up modestly by 2.6% from the first four months of 2023.
The dollar value of all home sales in April 2024 was $157.3 million, a minor increase of 2% from the same month in 2023.
The number of new listings saw a sizable gain of 24.8% from April 2023. There were 549 new residential listings in April 2024. This was the largest number of new listings added in the month of April in more than five years. New listings were 28.2% above the five-year average and 12.2% above the 10- year average for the month of April.
Active residential listings numbered 1,318 units on the market at the end of April, a substantial gain of 35.9% from the end of April 2023. Active listings haven’t been this high in the month of April in more than five years.
Active listings were 66.4% above the five-year average and 25.2% above the 10- year average for the month of April.
Months of inventory numbered 5.5 at the end of April 2024, up from the 4.1 months recorded at the end of April 2023 and above the long-run average of 3.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
(1) Sales / new listings * 100; compared to levels from previous periods. (2) Active listings at month end / monthly sales; compared to levels from previous periods. (3) Sale price / list price * 100; average for all homes sold in the current month.
Find more information at www.ragbos.com
Wondering how these numbers might impact your real estate plans? Whether you’re buying, selling, or just curious about market trends, I’ve got you covered! Let’s navigate the market together! Call today for a complimentary property valuation.
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
When You Can Only View a Property Once
If you’re searching for a new home within a tight time frame or searching for an out-of-town property, you may not have time to make multiple visits. In fact, you might only get a chance to view a property once before deciding whether or not to make an offer. While it may seem daunting to make such an important decision after just one visit, with the right approach, you can ensure you gather all the necessary information to make an informed choice.
Prepare, Prepare, Prepare
The key to making the most of a single property viewing is preparation. Before stepping foot into the home, take some time to jot down a list of your must-knows and must-haves. Are you concerned about the age of the property? Note down questions about maintenance and any potential upcoming repairs. Interested in the bedroom sizes? Bring along a measuring tape to confirm dimensions. By having a clear list of priorities, you’ll ensure you cover all your bases during the viewing.
Communicate Your Needs
When scheduling your viewing, be upfront with your real estate agent about your unique situation. Let them know that you may require more time than the average buyer to thoroughly inspect the property. You may need an additional 30 minutes to an hour.
Thoroughly Explore Each Space
During the viewing, resist the urge to rush through each room. Take your time to thoroughly explore the property, paying close attention to areas that are most important to you. Whether it’s the kitchen layout, the condition of the bathrooms, or the functionality of the living spaces, leave no stone unturned. Use a notebook or your smartphone to jot down notes and snap photos to reference later.
Ask All Your Questions
Don’t hesitate to ask your agent any and all questions that come to mind during or after the viewing. Whether it’s about the property’s history, potential renovations, or neighbourhood amenities, now is the time to gather as much information as possible. Your real estate agent should be knowledgeable and transparent, providing you with the insights you need to make an informed decision.
Looking to buy, sell, or invest? Let me help you find the true value in your real estate. Call today for a complimentary property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
