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June 2022 Market Report For Our Communities

As we look back at June, we can see that the market has begun to balance out. There was no large average sale price increases year over year, in fact we saw a 1.5% decrease in average sale prices compared to 2021. It’s worth keeping in mind though that prices are still up 36% compared to 2020 and 54% compared to 2019. The trifecta of rapidly rising mortgage rates, declining demand and surging listings (Up 89% in our communities) has shifted the market balance, previously in favour of sellers for a prolonged period, into a buyer’s market for the first time in many years.

In our local communities, we saw these trends continue, a lot more inventory in Midland with a huge 133% increase and in Penetang with a 181% increase. We also saw large inventory increases in Tiny and Tay throughout June. Prices stayed pretty consistent across our communities, a 2% decrease in Tay and 1.6% decrease in Tiny however Penetang saw 6% increase in average sale price. Even with a small decrease, Tiny’s average price is still lingering very close to the $1m mark for average pricing. Whilst house prices still look very attractive to sellers, the Bank of Canada adjusts interest rates we will see more variations moving forward. Interest is likely to continue to rise so don’t miss out on that dream home now.

Trust your local experts to guide you through the process and take advantage of the current market. Ask us about our FREE Home Market Analysis to determine exactly how much your Home is worth in today’s Market.

All data correct as of July 14th, 2022, data gathered by the Ontario Collective based on June 2021 vs June 2022.

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Your Patio, Your Sanctuary – 9 Ways To Create The Outdoor Space Of Your Dreams

Longer days, warmer nights… Summer is here, and with it, the great outdoors beckons your name. If you are the proud owner of outdoor space, whether it be a small balcony or an expansive patio; summer is the perfect time to focus on making this space your own, and creating a homey environment that will bring you, your family, and your friends immense joy. Here is how to create the patio space of your dreams.

Packing a Punch – Balconies

If you don’t have much to work with in terms of physical space, don’t fret. When maximised, smaller spaces not only pull their weight, but have the ability to feel particularly homey. If you live above the ground floor of an apartment building, there is also an extra layer of privacy which can be enhanced through decor. Before diving into revamping your smaller balcony space, if you do live in an apartment community, check in with community management to become aware of any restrictions on outdoor space furniture or accessories that may be in place. Let’s get to work!

01. Lighting: For a smaller space, it is best to get creative and add lighting solutions that will not occupy a lot of area on the ground. Get your nails ready and hang up some moody string lights (or, opt for the renter-friendly version of adhesive hooks). You can also get creative with wrapping string lights against your balcony’s railing, or, for a sleeker look, employ the help of LED wall lights.

02. Seating: Your space may be compact, but that does not mean it has to be boring. For a balcony, your seating has the potential to transform your outdoor experience. Firstly, decide on how you envision spending your outdoor time: Will you be sipping your morning joe and reading the newspaper on the balcony, or is it an area for you to curl up with a good book or a loved one? For the first option, a foldable table and chairs set in a colour that speaks to you may be the way to go. If your plans include lounging, a loveseat, small hammock, or a floor cushion packed with comfy pillows and cosy blankets will do the trick.

03. Details: For the grand finale, give your space some personality and pizzazz with accessories that won’t clutter. Play around with textures and patterns in choosing the finishing touches for your seating, such as pillows and blankets, drape curtains over the railing or hang them a bit higher for an extra layer of privacy, and channel your inner plant parent with a few smaller succulents or hanging plants in order to save space. If the flooring of your balcony is unattractive, consider the renter-friendly interlocking deck tiles to beautify the space.

A Cosy Haven – Small Outdoor Patio

Not all patios are created equal, but all outdoor space has the potential to be an oasis as long as you create a space that fits your lifestyle and aesthetic desires. If you are the proud owner of a small outdoor patio, read on for ways to ensure that you are creating a place that will keep you and your family entertained for years to come.

04. Lighting: A patio space, however small, offers a few possibilities when it comes to lighting. String lights can make an outdoor patio feel welcoming and intimate, but if you are craving a different aesthetic, the extra space that a patio offers allows for intriguing portable and floor lamp designs, and enhancing the mood with candlelight. 

05. Seating: A smaller patio can get lost in bulky outdoor furniture, so focus on smaller-scale options with clean lines when populating your space, such as a chaise-style bench. Multifunctional furniture, such as a pouffe ottoman that can serve double-duty as a side table or seating, are a great way to ensure you are getting the most out of your patio. Include a cosy dining nook into your decoration efforts with the help of a bistro table. And, if you have space to spare, consider adding in a compact swing to the mix. 

06. Details: Complete the look of your small outdoor patio with the help of accessories. An outdoor rug and curtains will give the space extra oomph, while a hung mirror adds depth and makes the area seem more expansive. Planning on entertaining on your gorgeous new patio? A rattan bar cart brings the entire space together and adds an air of sophistication.

The World Is Your Oyster – Large Outdoor Patio

A large space provides endless opportunities for creating a relaxing and entertaining sanctuary. From large-scale furniture, an intricate grilling and dining area, and variety in the surface of the patio itself, here are the aspects to consider when putting together your dream large outdoor patio.

07. Lighting: Show off a larger space by lighting the path leading up to it. Brighten up your walkway by installing path lighting – whether it be low-voltage or solar LED options. Complete the look by adding standard-voltage, LED deck lighting, and lanterns that offer a soft look to your outdoor space. For an extra feeling of safety, add outdoor wall lighting to your patio. These can be mounted on any vertical surface.

08. Seating: Without major square footage constraints, the seating you choose for your patio is a matter of preference. But first, it is worth thinking through patio style and adjusting seating options accordingly. Fancy a gravel patio? A park-style bench might be a perfect addition for it. A concrete patio offers more longevity and is the perfect backdrop for chunky furniture with ample seating room. A pavement patio pairs beautifully with wooden furniture and picnic tables. And, a tile patio has a chic air that can be enhanced through mosaic pieces and sleek designs.

09. Details: Your patio is the ideal playground for water accents and fire pits. If you seek to create a tranquil space, a cascading water wall or a terra-cotta water fountain are the ideal backdrops for a relaxing afternoon or evening on the patio. If you choose to add a firepit to the space, consider turning it into the centrepiece of your design efforts. A minimally designed open-basin cast iron fire pit offers a clean look, whereas a traditional fire pit offers a hint of nostalgia reminiscent of summer camp days. Think about the feeling you would like your space to evoke, and work backward to find your perfect fire fixture.

Share with us the patio spaces that you have set up. Or let us know what you’ve got planned!