Navigating the Ups & Downs: 
A Look at Cambridge's Real Estate Market in 2023

January 4, 2024


Have you ever found yourself wondering about the current state of the Cambridge real estate market?

With the ever-changing landscape of property values, it's crucial to stay informed, whether you're a potential buyer, a homeowner looking to sell, or simply a real estate enthusiast. Let's dive into the latest statistics and trends that have shaped our local market in 2023.


The Peak & The Drop:
A Tale of Two Extremes

The Cambridge real estate market has been a rollercoaster ride, especially over the past year. Let's look at the numbers:

  • The Peak: In February 2022, the market reached an all-time high, with the average home sale price…

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Don't FALL Behind!

Home Maintenance TIPS

Just because you're set to sell your home doesn't mean that you can neglect to maintain it, especially with winter fast approaching. Not only can prepping for the winter season help showcase some of the features which make your home unique (like a cozy fireplace), but the failure to adequately prep it for the season can result in home hazards that could impact the sale of your home, even after you've accepted an offer.

Here are some winter maintenance tips that you need to be thinking about this fall:

Plumbing Prep:

Your home's pipes can be a big issue during the cold winter months, so blow out your sprinkler system and take any outdoor hoses indoors. Don't forget to shut off the water to…

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DIY: Paint Like A Pro

Want to know the secrets to painting a room like a pro? Look no further! Here are some tips to help you achieve a flawless finish:


Tip #1 - Start with a clean slate:


Remove all furniture and decor from the room, and give the walls a thorough cleaning.

When it comes to painting a room like a pro, the first and most important step is to start with a clean slate. This means removing all furniture and decor from the room, and giving the walls a thorough cleaning.

Why is this step so important? Well, for one thing, it ensures that the paint will adhere better to the walls. If there is dust, grime, or other debris on the walls, the paint will not stick as well, which can result in a less-than-satisfactory finish.…

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Market Watch

Historic Hespeler Textile Building Site Project Gets Green Light

July 22, 2022 - via Barbara Latkowski [CambridgeToday.ca]

'I think redevelopment is essential, but I think it is just as essential to retain the history and culture of that site'

A plan of the new building redevelopment located at the historic Dominion Woollens/Silknit /Forbes textile building at 211-215 Queen St. W. in Hespeler. City of Cambridge A plan of the new building redevelopment located at the historic Dominion Woollens/Silknit /Forbes textile building at 211-215 Queen St. W. in Hespeler.

Cambridge city council has approved a development project at an historic site at 211-215 Queen St. W. in Hespeler.

The Blacks Point Development project will begin construction in two phases while preserving the historic Dominion Woollens/Silknit /Forbes textile building, a designated heritage property that fronts the Speed River.

…

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MARKET WATCH: BOC 1% Rate Increase

July 13th, 2022

The Bank of Canada increased the policy interest rate by 1%, an increase that exceeded expectations and the largest since 1998, as the bank attempts to control high inflation. 

The Bank of Canada has hiked its benchmark lending rate to 2.5 per cent from 1.5%. It's expected an increase of this size will turn up the pressure on Canada's cooling housing market.

The Bank is stating that inflation in Canada is higher and more persistent than expected and will likely remain around 8% for the next few months. The biggest drivers are the war in Ukraine, ongoing supply disruptions and excess demand in the Canadian economy. "With the economy clearly in excess demand, inflation high and broadening, and…

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students looking for community service hours

Hey, Students!

Looking for Community Service hours?

We want to hear from you.

As every student knows, in order to receive an Ontario Secondary School Diploma every graduate is required to have completed a minimum of 40 hours of community service. There are many ways in which a student can achieve this goal including helping with local food banks, community park clean-ups, and volunteering at retirement centers. This is a great opportunity for youth to gain a strong sense of community and even a bit of work-transferrable experience. In return, our community becomes a better place thanks to their efforts.

Dewar Realty is thrilled to be able to offer opportunities to help with projects and events in the community, while also helping…

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In The News

IN THE NEWS

A quick look at the stories that are affecting our local real estate market. [June 30th, 2022]


OSFI makes real estate loan changes aimed at reducing lender risk

June 28, 2022 - cambridgetoday.ca

Canada's banking regulator is tightening requirements for some types of real estate loans to protect homeowners who may be at greater risk from higher interest rates.

The Office of the Superintendent of Financial Institutions says changes affect combined loan plans like reverse mortgages or loans with shared equity features, which have grown in popularity in recent years but may be riskier for lenders.

For borrowers who owe more than 65 per cent of the loan value, a portion of their payment must to go toward the loan principal…

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Buying a House?
Here's Where To Start.

When you're thinking about getting into the real estate market, there are some things you need to know before buying a house. From the mortgage to the closing costs, there are many things you should be aware of before thinking about purchasing a home - whether it is your first or tenth.

Before Your Start

Make a complete checklist of what you want and what you need to do. This will help you in the buying process and ensure you don't forget anything important. It's also good idea to have realistic expectations about the things you need in a home.

How's Your Credit?

Strengthen your credit score. Your monthly payments will be lower when you have a high credit score. Experts also recommend that you stop…

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Are You Worried About Buying and Selling in Today's Market?

Perhaps the most common concern that I've been hearing from homeowners lately, is that of uncertainty in regards to finding a new home after committing to the sale of their current one. "Where will we go, and what if we can't find a new home in this market?" The fact is true that the market has been interesting to navigate over the last two years, but that should never prevent you from your real estate goals.

Thinking about selling your current home, but worried about buying your next one?

- The Purchase -

The market has been a bit crazy over the past two years, but things have started to settle down. As more homes hit the market this Spring and average selling prices begin to…

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Home Selling Mistakes to Avoid:
OUTDOOR EDITION

Home selling mistakes to avoid outdoorsOne of our most popular blog posts was about home selling mistakes to avoid. Since this post was so popular, we thought it was a good idea to make a similar post, this one dedicated to the home selling mistakes that happen outdoors. You know, the cluttered lawns, unkempt gardens, and peeling paint-type of outdoor problems. Read on to make sure you don't make these common mistakes when selling your home!

Leaving Out The Trash

One common thing that sellers often overlook is keeping their outdoor garbage areas in good shape. If your garbage bins are overflowing with trash and your recycling bins are scattered with empty soda cans, it might make people think you've neglected the rest of your home too.…

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