Category Archives: Real Estate Market

Canadian Farmland Market 2014

Interested in seeing how farm property values are across Ontario in 2014? Look no further!

Canadian Farm Report 2014 REMAX

WINDSOR-ESSEX
– Prices in Windsor-Essex remained steady in 2014
– Area factory closure has motivated owners to shift from tomato crops to corn, beans and wheat productions.
– Stable demands and limited supply has meant properties do not last long on the market
– price per acre: $6,500 – $11,000

CHATHAM-KENT
– High demand for high quality land has caused prices to rise by as much as 100 per cent in some areas
– Properties of all qualities are selling fast, often between three and six months
– Demand and prices in the area are expected to remain strong
– price per acre: $7,000 – $22,000

HURON COUNTY
– Year-over-year price increases plateaued by mid-2014 amid weaker crop prices
– Many buyers are family-owned operations seeking to expand
– Hobby farms are becoming more difficult to finance
– price per acre: $13,500 – $15,000

LONDON-ST. THOMAS
– Market held strong through the winter and farms continue to sell within one month
– Foreign investors are looking to buy land with development potential
– Lenders have been less enthusiastic about financing hobby farms
– price per acre: $7,000 – $12,000

WOODSTOCK – STRATFORD
– Challenging weather conditions have led to increased days on market, but no significant change in land – prices
– Sales of dairy and feather farms drove price increases, while cash crop properties have leveled off
– Buyers are looking for proximity to highways, processing facilities and existing infrastructure
– price per acre: $14,000 – $20,000

KITCHENER – WATERLOO
– Prices in Kitchener-Waterloo are leveling off as demand drops
– Properties are staying on the market longer due to lack of demand
– Hobby farms lead the way in sales volumes
– price per acre: $14,000 – $18,000

BRUCE COUNTY
– High demand has tapered off as buyers and sellers differ on price
– Unpredictable weather and uncertain harvest is causing buyers to hesitate
– Potential buyers of hobby farms are finding it difficult to secure financing
– price per acre: $6,500 – $10,000

GREY COUNTY
– Average prices have increased by nearly 20 per cent
– Prices for certain types of land have more than doubled in three years
– Farmers migrating to Grey County to get a better price for comparable land quality are driving demand
– price per acre: $3,500 – $8,500

SOUTH SIMCOE
– Demand for agricultural land is strong as farms near the Greater Toronto Area sell to developers
– Many buyers are established farmers seeking to expand existing operations
– Demand and prices expected to increase for the foreseeable future
– price per acre: $10,000 – $25,000

QUINTE
– High quality land at an affordable price provides excellent value amid soft commodity prices
– Many buyers are established farmers seeking to add to existing holdings
– Market is expected to be stable over the next 24 to 36 months
– price per acre: $1,500 – $7,500

STORMONT, DUNDAS AND GLENGARRY COUNTIES
– Prices increased in 2014 due to a shortage of available land
– Highest prices in the area are closest to the Ontario-Quebec border
– Cash crop farmers are expected to continue to grow operations, further driving demand
– price per acre: $7,000 – $17,000

OTTAWA VALLEY
– Tile-drained land is selling briskly despite soft commodity prices
– Area properties provide excellent value with less expensive prices for comparable quality to other parts of Ontario
– Mennonites from southwestern Ontario are relocating to the region and establishing small communities
– price per acre: $8,000 – $10,000

Lori VanDinther, a long time resident of Burlington, has been successfully selling Real Estate in Burlington, Oakville, Carlisle, Kilbride, Waterdown and surrounding areas for over 20 years. If you’re looking to make an investment in real estate get in touch with her today info@loriv.com

For a full RE/MAX Farm 2014 report that includes other Canadian provinces click here.

New Monthly Record Set

(October 3 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1286 property sales processed through the RAHB Multiple Listing Service® (MLS®) system in September. This represents a seven per cent increase in sales compared to September of last year.

There were 2017 properties listed in September, an increase of 2.3 per cent over the same month last year. End-of-month listing inventory was 10.3 per cent lower than last year at the same time.

“Sales were the highest we’ve seen for the month of September, ever,” said RAHB President Tim Mattioli. “The strong market seen through the summer is continuing into the fall.”
Seasonally adjusted* sales of residential properties were less than one per cent higher than the same month last year, with the average sale price up 5.3 per cent for the month. Seasonally adjusted numbers of new listings were 1.7 per cent lower than the same month last year.

Seasonally adjusted data for residential properties for the month of September, 2014:

Seasonally

Actual overall residential sales were 6.7 per cent higher than the previous year at the same time. Residential freehold sales were four per cent higher than last year while sales in the condominium market saw an increase of 19.9 per cent.

 

Source: http://www.rahb.ca/press/2014/oct/141003statsreleaseSept.pdf

New Sales Record Set in May

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1660 property sales were processed through the RAHB Multiple Listing Service® (MLS®) system in May. This represents a 4.1 per cent increase in sales compared to May of last year and sets a new record for sales in any month.

There were 2458 properties listed in May, an increase of eight per cent over the same month last year. End-of-month listing inventory was four per cent lower than last year at the same time.

“Spring weather may have taken its time in arriving, but the spring real estate market certainly took off in May,” said RAHB CEO Ross Godsoe. “We didn’t just trip over the record set in 2009; we beat it by 3.5 per cent.”

Seasonally adjusted* sales of residential properties were 8.1 per cent higher than the same month last year, with the average sale price down 1.8 per cent for the month. Seasonally adjusted numbers of new listings were 12 per cent higher than the same month last year.

Seasonally adjusted data for residential properties for the month of May, 2014:

“Having record-setting sales isn’t the whole story,” added Godsoe. “There was also a bump in the number of new listings during the month of May. It wasn’t record-setting, but new listings were higher than the 10-year average for the month. That may account for the slight decrease in average sale price compared to May of last year.”

For the full article go to: http://www.rahb.ca/2014/06/new-sales-record-set-in-may/