Welcome to a year-end closer from your friendly #HamOnt real estate agents Doug & Tricia at Folsetter Taffs and Associates.
2022 brought lots of quick posts on my Facebook, Instagram and Twitter pages. But the speed of the market (and now drought) left little time (and now little inspiration) for more formal posts on this page.
I’m hoping for some big ‘bammer’ homes in 2023 and getting back to some character brimming long reads that celebrate our city’s architectural splendors.
In the interim, enjoy the BEST of 2022 and an OUTLOOK for 2023 from Doug and Tricia.
Best Regards,
Adam (aka FreshBrick)
DOUG & TRICIA’S BEST OF 2022
Best character 316 James St S, Unit D
Sold for $700,316 (I see what they did there!). Located in #HamOnt's storied Ballinahinch mansion circa 1850.
Best bang for your buck 112 Hillcrest Avenue
This coveted Kirkendall South classic sold for a song at $840,000. Steps to conservation and trails, yet a short walk to the shops and restaurants of Dundurn and Locke streets.
Best fixer upper61 Smith
This 1,700+ sqft. century cottage sold for $515,700. A blank slate with loads of potential.
Photo by Vogel Creative PhotographyBest renovation16 West 34th
House hunters salivated over this mid-century makeover, generating multiple bids for a sale of $1,451,800 ($551,800 over asking!).
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Best featureSunroom at 400 Queen S.
Sunshine and beveled glass for days! This 4,500 sqft. Kirkendall neighbourhood mansion was cancelled unless it sold off-market. Last listed for $1,999,000.
Best outdoor living443 5th Concession W./181 James St N, Unit 601
Best surprise and delightFur vault at 822 Main St E/Tin ceilings at 151 James St S
Fresh Fact: In 1874 the Buchanan family left the Auchmar estate and moved into this building where Radius restaurant/bar is now located!
Best curb appeal316 James St S, Unit D
Best in-fill build 547 / 549 Hughson Street N.
DOUG & TRICIA’S OUTLOOK 2023
Doug and Tricia predict the market will likely continue to correct into the first quarter, although they are starting to see some price stability and consumer demand now that prices and interest rates are beginning to settle.
They believe there will be good opportunities for first time buyers and buyers wishing to move up now that down payment requirements are lower (a cause and effect of lower prices).
As far as other trends and observations go, Doug and Tricia note that higher mortgage payments drive consumers to look to alternative housing arrangements through cohabitation, multi-generational homes, and the addition of secondary income suites to current properties.
Overall, Folsetter Taffs and Associates anticipate more balance in the market as the year progresses but unlikely significant price growth. All this will be largely dependent on the overall economy. Have patience as it's only when it rains that we grow. There is light in your real estate future!