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Archive for the ‘Real Estate Market’ Category

House prices continue to skyrocket in the local market

Friday, May 11th, 2012 by Dan Cooper

The Dan Cooper Team - Rising Sales

The local housing market has kept its steady pace as house prices continue to rocket skyward in Oakville and Burlington. Last week, I wrote that while there was a slow start to the first quarter of this year, we saw the average house price in Oakville increase by more than 14 percent in March over the same month last year. In dollars, the average price in March was $642,432 compared with $555,000 in March of 2011.

April sees that hot trend continue with the average price in Oakville rocketing to $698,835. That’s an increase of around 21 percent over the average price of $575,000 in April 2011 and 9 percent higher than last month’s average price.

In Burlington, the increase was similarly dramatic – rising 16.5 percent or $460,586 compared to $395,266 in April 2011. This was for all properties. Interestingly, it was the condo sector that had the largest jump, increasing a whopping 32.2 percent last month over April 2011.

Again, the warmer weather brought buyers into the market early and the low interest rates have continued to encourage consumers to get into the market – and pay a higher price for a home. Stable interest rates and a quiet confidence in the economy are fuelling this rebound in the housing market following a couple of sluggish years.

Even in a hot market, sellers are still advised to list with an experienced agent. Properly marketing your property and negotiating the best price requires the skill of a professional. The Dan Cooper Team employs leading-edge marketing strategies – we hand pick the real estate publications to market our homes, ensuring we are achieving the best results, and we use our online marketing tools effectively. The result is that we have a stellar track record for selling homes quickly and negotiating the best price. The evidence of this has been our ability to be the number one team in Canada for Royal LePage in seven of the past 13 years.

The prices in this area simply reflect the fact that Oakville and Burlington are among Canada’s best communities in which to live. A good deal of that demand is due to the quality and style of the homes here, the neighbourhoods in which they are located and the quality of the people who live here. We live in safe and picturesque communities – ideal places in which to raise a family.

We also have some of the most generous and giving citizens anywhere in Canada, and I’ve witnessed some of that generosity first hand.

I’m heavily involved in the community and sponsor or support numerous causes that help make our community stronger and a better place in which to live. A recent example is Comic Vision Oakville on April 25 at Le Dome on North Service Road. I was proud to be the venue sponsor for this hilarious evening of comedy with some of the best comics in Canada. Comic Vision is held in five cities across Canada and raises more than $700,000 annually for the Foundation Fighting Blindness, which funds vision research. This year’s show was another roaring success and I thank everyone who came out and supported this tremendous cause.

Coming up is the 12th Annual Dan Cooper Swing for Kids Sake golf tournament in support of Big Brothers Big Sisters of Halton. This year’s tournament is being held at Piper’s Heath Golf Club in Milton on May 28.

“Give where you live” is a slogan adopted by many charitable organizations across North America, but it really does sum up my own personal philanthropic objectives and is the approach of the entire Dan Cooper Team. I encourage all of you to give back to the community in any way you can; whether it is with money, time or both. Your efforts and contributions help make our community a stronger and safer place in which to raise our families.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009, 2007, 2005, 2002, 2001, 2000 and 1999. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call The Dan Cooper Team.

Posted in Big Brothers Big Sisters of Halton, Burlington, Charity, Comic Vision Oakville, House Pricing, Oakville, Piper’s Heath Golf Club, Real Estate Market, Swing for Kids Sake | No Comments »

Weather can influence shopping habits

Friday, February 10th, 2012 by Dan Cooper

Dan Cooper - Housing Cost

With our snowless winter you might expect more people would be out house hunting. January is traditionally a slow month for home sales – we’re too busy working off the turkey dinners – but so much in the consumer world is dictated by weather. And with unseasonably milder temperatures and the lack of snow, one might expect more outdoor activity.

Weather influences so much of what we do. Nowhere can you see the fickle tendencies of the consumer than in retail. Retailers moan if there is no snow leading up to Christmas. Consumers are slow to get into the holiday spirit when the weather doesn’t co-operate. To exacerbate the situation, a slow recovery in our economy has convinced consumers to focus on paying down debt and making only very wise spending choices.

But then, that’s retail. It’s a completely different beast from making a major investment like real estate. Owning a home happens to be one of the wisest investments you can make – in any economic climate. Real estate has consistently been a great investment and nothing on the horizon will change that. Housing types and styles will change, but location, land appreciation and the desire to own a home will not.

So, when we look over the latest housing stats for January, we see that in Oakville, activity was predictably slow while Burlington showed some gains over January 2011.

In Oakville, the number of sales dropped from roughly 180 in January 2011 to 150 this past month and the average price dropped from $655,000 to $608,000. This of course, includes all residential types – freehold, townhouse and condo. This is a temporary drop and we are already seeing signs of a market that is beginning to pick up steam in February. You have to consider that Oakville is one of the most desired places to live in Canada – and as long as you have demand, you will have a healthy market for real estate.

In Burlington, sales were up by 8.4 percent in January compared with January 2011, and the average sale price increased by 10.9 percent, from $392,242 in January 2011 to $435,162 last month. Broken down, the Realtors Association of Hamilton-Burlington shows that freehold prices rose 10.6 percent while condo prices rose 4.9 percent.

“The story for the month of January is that while sales have edged up compared to last year, we are seeing significantly fewer listings than normal,” says Cameron Nolan, RAHB president. “Our listing inventory is the lowest it has been in some time.”

In the Greater Toronto Area sales were 8.8 percent higher than in January 2011 and the average selling price was up by nine percent.

“A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept homebuyers confident in their ability to achieve the Canadian goal of home ownership,” says Toronto Real Estate Board President Richard Silver. “The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum.”

When it comes to the Toronto market, The Dan Cooper Team has strengthened its presence there with the addition of George Chisholm as one of our newest sales representatives. George brings a wealth of knowledge about the Toronto market and can help clients looking to move to Toronto or bring Toronto buyers to the Oakville/Burlington market. George has been a top performer for many years and received Royal LePage’s Director’s Platinum Award in 2010.

In concert with bringing George onto the Team, we have also heightened awareness for our brokerage and our listed properties through a new magazine that is being distributed through Toronto. Prestige sends out 42,000 copies to affluent neighbourhoods throughout Toronto to provide additional exposure for our listings. This is one more example of how The Dan Cooper Team continues to find new and fresh ways to better market your home.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009, 2007, 2005, 2002, 2001, 2000 and 1999. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call the Dan Cooper Team.

Posted in Real Estate Market, Statistics, Weather | No Comments »

Royal LePage predicts homes will continue to appreciate despite recent talk of decline

Wednesday, January 18th, 2012 by Dan Cooper

Real Estate Market - Dan Cooper

The average price of a home in Canada increased between 3.6 and 6.1 percent in the fourth quarter of 2011, compared to the previous year, according to the latest Royal LePage House Price Survey and Market Survey Forecast. Royal LePage expects average price growth to continue through 2012 and predicts national average prices to increase by 2.8 percent by the end of the year.

I stated in my column last week that low interest rates and a relatively stable economy encouraged more buyers to take part in the real estate market in 2011, making it a strong year. In fact, it was Toronto’s second best year on record. This was despite calls in some quarters for Canadian house prices to soften in 2011. The strong recovery in the real estate market is likely to continue, according to Royal LePage. Recent high profile reports forecasting significant house price declines this year are not supportable. The consumer confidence in the housing market that was displayed in the last quarter of 2011 is expected to carry through 2012, according to the Royal LePage report.

This is how Royal LePage President and CEO Phil Soper explains the company’s latest survey: “In the recovery period following the 2008-2009 recession, I found myself repeatedly speaking of ‘irrational exuberance’ in the Canadian housing market. Expectations were too high and the pace of expansion unsupportable. With this report, I find myself in exactly the opposite position. Widespread calls for a major real estate correction in 2012 simply can’t be justified. The industry has significant momentum entering the year, and buoyed by the stimulative effect of very low interest rates, we expect the market to continue to expand – albeit at a slower pace.”

While 2011 was a very strong year for price growth, Canada’s average home prices have grown by only 3.5 percent compounded annually over the past five years. This is well below the long-term average rate of appreciation. Canada’s GDP has also grown modestly over the same period and the economy is expected to expand by approximately two percent in 2012. Although unemployment remains stubbornly higher than pre-recession levels, sustained employment at today’s levels in a low interest rate environment can be expected to support continued average house price appreciation across the country.

”We believe calls for falling prices and more affordable housing in 2012 are unlikely to materialize,” said Soper. “While this will comfort the 70 percent of Canadians who are homeowners, there is cause for concern when house price growth outpaces increases in wages and salaries for an extended period of time. Coupled with more restrictive mortgage regulations that have made it more difficult to obtain financing, those who aspire to own a home may find it increasingly difficult to enter the housing market and, in some regions, it may leave people out entirely.”

Lack of inventory in Toronto produced strong year-over-year price appreciation in 2011. Average price gains ranged from 3.4 to 7.2 percent for the housing types surveyed. Migration and low interest rates also continue to drive real estate prices. At the end of 2012, average house prices in Toronto are forecast to increase 2.6 percent over 2011.

In last week’s column, I said I would have the Oakville housing statistics for 2011, but they had yet to be released at the time this column was being written. They should be out this week, so watch for next week’s column for a review of Oakville’s real estate performance for 2011.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009, 2007, 2005, 2002, 2001, 2000 and 1999. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call The Dan Cooper Team.

Posted in Prices, Real Estate Market | No Comments »

Stability is the watchword in real estate in 2012

Thursday, January 5th, 2012 by Dan Cooper

I want to wish everyone a happy and prosperous New Year. As we enter 2012, all the signs point to a stable and balanced economy – which in turn creates a good climate for real estate transactions.

Across Canada, the real estate market was balanced in 2011 with housing prices growing more or less in line with the rate of inflation.

Oakville, which has always been one of the hottest markets in the country, surpassed the national trend for sales and price increases. The latest available statistics take us to the end of November and show that the number of residential sales was up 8 percent in 2011 over 2010 and the average price had increased by 8.5 percent – $609,034 in 2011 from $561,769 in 2010.

In Burlington, sales were on par with the national trend, but the average sale price increased by a whopping 13.8 percent – $421,008 in 2011 from $369,874 in 2010.

And we can expect the same pace of growth in 2012 according to the Canadian Mortgage and Housing Corporation. The key will be continued low interest rates. Rates had been expected to rise in 2011, leading to a slowdown in the housing market. But that didn’t happen.

In 2012, a looming economic slowdown, record consumer debt and weak wage growth could put a downward pressure on the market. But these will also encourage the Bank of Canada to leave interest rates on hold – and that’s good news for homebuyers. It’s also good news for sellers since the lower rates will encourage more buyers into the marketplace.

While uncertainty about the global economy and our own recovery will continue to mess a bit with our psyche, the fact that we will see some stability, that there will still be some growth in the economy and the job market, bodes well for the real estate scene over the next 12 months.

Whether you are buying or selling a home, choose a broker who understands the market, who is knowledgeable about the community and has the resources and staff to provide you with superior service 24/7.

From the entire Dan Cooper Team, I would like to wish you and your families all the best for 2012.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009, 2007, 2005, 2002, 2001, 2000 and 1999. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call The Dan Cooper Team.

Posted in Burlington Real Estate, Oakville Real Estate, Prices, Real Estate Market, Selling | No Comments »

Looking for a strong finish in home sales for 2011

Monday, December 12th, 2011 by Dan Cooper

The Dan Cooper Team - Rising Sales

October and November were two of the strongest months for The Dan Cooper Team as we bucked the trend for the Oakville and Milton areas, and remained on track with what was happening in Burlington and the GTA.

There was a cooling in sales in the Oakville area in November, according to the Oakville, Milton and District Real Estate Board (OMDREB), but Hamilton/Burlington and Toronto enjoyed increases in listings, sales and average sale price.

“The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” says Toronto Real Estate Board President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.”

The average price in the GTA for November transactions was $480,421, representing an increase of almost 10 percent in comparison to $437,494 in November 2010.

In the Hamilton and Burlington areas, average prices rose 7.8 percent for homes and 6.1 percent for condominiums. This was for all transactions under the Realtors Association of Hamilton-Burlington, which takes in Glanbrook, Dunnville and Caledonia. Burlington on its own witnessed a 13.8 percent increase in the average sale price last month – $421,008 in November compared to $369,874 the same month last year.

So what happened in Oakville/Milton? The OMDREB says this is a traditional slowdown as consumers busy themselves preparing for the holiday season. It says overall sales in November compared with the same month last year were down 5.9 percent. Oakville, however, saw a 5.5 percent increase in sales, but experienced an almost static position in the average sale price. The average price in November was $588,557 compared with $589,354 in November 2010.

“While we are experiencing the traditional drop in sales that occurs during the winter months, we remain on track for a strong finish in 2011,” says OMDREB President Jack McCrudden. “As long as interest rates remain at their current historic lows, demand for housing in the Oakville/Milton market will remain strong.”

The key to selling your home is to choose an experienced realtor who will market your home effectively. Innovative advertising, knowledge about the marketplace, commitment and exemplary service differentiate The Dan Cooper Team. The result is that we are achieving accomplishments that illustrate the Dan Cooper difference. We have been the Number 1 team in Canada for Royal LePage for seven of the past 11 years, which is a testament to our ability to sell homes quickly and for the best possible price in the Oakville and Burlington areas.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009, 2007, 2005, 2002, 2001, 2000 and 1999. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call The Dan Cooper Team.

Posted in Burlington Real Estate, Oakville Real Estate, Real Estate Market, Selling, Statistics | No Comments »