Daily Market Update

by Jordan Maxwell07 Apr 2015
Cottage real estate booming in Muskoka
The slow start to spring hasn't been a problem for people wanting to buy or sell a cottage in the Muskoka region, according to an article from CTV News. Some cottages are still not even accessible and the freezing temperatures and snow the area has seen this winter usually keeps the market cold. However, realtors like Heather Scott have noticed the complete opposite since January. “The phones are ringing; buyer showings for this time of year have doubled what we see normally see given that access is still limited,” Scott says. Scott has six deals on the table right now compared to just two this time last year and others are seeing the same. Record number cottage sales are being reported in Haliburton, Muskoka, and Orillia. The latest numbers from the Lakelands Association of Realtors show 44 waterfront properties were sold in February. That's up nearly 50 per cent from last year. 

Barrie housing prices, sales on the rise 
In Barrie, prices rose four per cent in March over March 2014, which brings the average selling price for a detached home to $365,615, according to a Metroland article. Townhouses, linked homes and semi-detached homes sold at an average price of $258,493 last month, which is also up four per cent over a year ago. Condos, however, aren’t selling quite as well. Prices dropped two per cent from March 2014, and the average year-to-date selling price is $206,217. The rise follows relatively strong numbers for Ontario reported in the month of March for real estate. 

Tech sector driving office leasing in Vancouver 
According to an article in Business in Vancouver, While the pace of office leasing picked up in 2014’s final quarter, CBRE Ltd.’s latest office market report indicates that it was driven largely by one sector: tech. “Tech companies account for 42 per cent of tenants pursuing office space,” reads the report, which appeared days before the local chapter of commercial real estate association NAIOP convened a panel to discuss the office market. "Outside of tech, there isn’t really a whole lot to hang your hat on,” Steffan Smith, director of leasing for GWL Realty Advisors Ltd., told NAIOP. “Demand is spotty in most of the other sectors.” Read more here

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