Hawkins Ryerse Summer Newsletter 2023
“THE FACES YOU KNOW, THE PEOPLE YOU TRUST”
QUARTERLY NEWSLETTER SUMMER EDITION 2023
In This Edition:
- Local Real Estate Update
- Housing Trends Continue to Frustrate
- Southern Georgian Bay Market Update
- Short-Term Accommodations Licensing, New Development Plans for Grain Terminals Unveiled
- Sponsorships & Community Events
- Hawkins Ryerse recently SOLD & Feature Listing
LOCAL REAL ESTATE UPDATE
Our mid-year update has us guessing as to how the second half of the year will evolve. All real estate market dynamics are impacted by economic factors, globally and locally. A property’s current value compared to 24 months ago, availability of specific locations and current market activity are top of mind when client discussions take place. Are values going up or down is critical for most people but impossible to provide an easy answer. Properties are transacting, marketing time for homes & townhomes in the active price ranges are selling currently in about 21 days. Some properties have also sold with multiple offers in May & June.
Home pricing is critical and in a market with reduced sales in the past 180 days, properties can be a challenge to price appropriately. We know there is a shortage of housing and the Ontario government has announced new policies, some which are very controversial, to build 1.5 million homes by 2031. This pace of construction is questionable based on labour availability and supply chain shortages. Nationally, Canada Mortgage & Housing (CMHC) stated last summer, the country needs to build 3.5 million homes.
Locally, new communities are under construction and many new home sites are sold out. In Ontario, recently legislated municipal planning emphasizes the need to increase density. Building on small serviced lots, and building higher with more stories will be the “new normal”.
Many families want to move here and buyers are taking much more time to understand the market, to research and to consider their investment. Affordability does not just apply to first time home buyers. Empty nesters, wanting to downsize to live in attractive locations on one floor for ease of living, are frustrated locally due to the limited supply. While more housing is needed, affordable housing types are essential. Data from the Canadian Real Estate Association (CREA) indicated real estate sale values recovered during the first quarter of 2023 as inventory remained low. The second quarter has shown sales volumes, some moderately reduced, with indications of price appreciation potentially due to lower inventory.
Statistics Canada reported in early June, mortgage borrowing has reached the lowest level since 2003, following on the heels of reduced home sales. Canada Mortgage & Housing (CMHC) reported June 15, May housing starts are 25% lower than April Housing starts potentially signaling a slowing economy which we are being told is required to stave off a recession.
The real estate activity charts in this newsletter are pointing to decreases across sales volume, inventory & average sale price. The recent bank rate increases, current high demand for homes and low inventory are conflicting market conditions creating frustration for buyers who would like to buy and sellers that want to sell. Issues we are watching; Locally, Collingwood is considering enacting a licensing process for property owners to provide short term rentals of less than 30 days.
See further details within this newsletter.

THE HOUSING TRENDS CONTINUE TO FRUSTRATE IN CANADA
CANADIAN REAL ESTATE WEALTH
In a classic case of supply and demand, housing prices in Canada are edging higher as a critically low housing inventory reaches a 20 year low. So the big question is, “How could this affect the housing market as we move further into 2023 and beyond. Inflation is “the gradual loss of purchasing power, reflected in a broad rise in prices for goods and services”.
Inflation, in a nutshell, is the persistent rate at which the cost of goods and services rises over a period of time. To break it down further, when one unit of currency, be it a Canadian dollar, US dollar, yen, pound, or rupee, doesn’t go as far as it once did, a consumer can purchase less for that unit of currency than they once could.
INFLATION & THE GREAT WHITE NORTH
Those who say that the COVID 19 pandemic was the match that lit the largest inflationary flame in Canadian history are wrong, or at the very least are oversimplifying.
Comparatively speaking the 8.1% high that we experienced in Canada in June 2022 reached levels not seen for nearly four decades. According to TD Bank, Canadian inflation rates soared, as “Canadian gas prices increased 45.5%in 1981, which pushing the Canadian Consumer Price Index to an all time high of 12.9%”. Going back further the inflation rate in Canada reached an all time high of 21.6% in June 1920. The cause of the sky rocketing post- World War 1 inflation was the scarcity of resources and the subsequent high demand that it caused as a result.
SOUTHERN GEORGIAN BAY MARKET UPDATE

SHORT TERM ACCOMODATION LICENSING
WHAT ARE YOUR THOUGHTS ?
The Town of Collingwood, the town is asking for public feedback on the issue of short-term rentals in residential areas. Town Council and staff have been working toward changes to the current bylaws prohibiting rentals of less than 30 days unless at a commercial bed and breakfast establishment.
Despite the bylaw prohibiting them, there are hundreds of listings for short-term rentals on popular sites like Airbnb and others for Collingwood. We have recently experienced the negative effect on market value for a home located in a residential area with short term rental properties nearby. The Licensing Process, if it is to be effective in Collingwood, must provide an ongoing notice and commenting process for neighboring properties. Even further, compliance for licensed establishments must be consistent.
Please contact us with your comments and thoughts regarding this proposed change to the Town Bylaws.

Sponsorship & Community

This year, Hawkins Ryerse Real Estate Group once again participated in the Annual Hike & Bike in support of Hospice Georgian Triangle, a cause that is near and dear to our team members’ hearts.
We would like to thank all those who donated to this amazing cause, our team raised over $9,000 with your help and we are so grateful. The event raised over $170,000 to assist in supporting families in Southern Georgian Bay.
Our friend Daniel McAlpine cycled from Collingwood to Rossland BC in his Big Ol’ Jerry Tour, raising awareness and funds for the Team Giver’ Foundation. We are so proud of his efforts as this was a difficult trek, being made in memory of his brother Kenneth.
Daniel managed to withstand the sometimes harsh weather of Northern Ontario in late April and arrived in Rossland on May 25th.
We will be participating in the Third Annual Kenneth’s Walk at Duntroon Highlands on September 23, 2023, to raise funds for the Team Giver’ Foundation. This culinary walking tour on Duntroon Highlands Golf Course with the start/finish at The Highlands House.
There will be food & beverage stations along the walk, serving the best that South Georgian Bay has to offer. It is always a great day filled with fun, music, and incredible cuisine in a very picturesque location.


Check out our NEW Community Guide!
If you are considering a move in 2023/2024, or you have friends or family that are interested in knowing more about our local real estate market please contact us:
We would be more than happy to assist.
Contact us or
call/text to 705-441-0718
Blog Posts
Things to Consider Before Buying a Home
Here at the Hawkins/Ryerse Real Estate Group, we want to help you find the ideal home for you and your family. Whether you are planning to sell your current home…
Read MoreWhat Is Included in Closing Costs When Buying a Home?
So, you’re ready to embark on the exciting journey of buying a new home. You’ve got your dream house in mind, and your finances are in order. But hold on!…
Read MoreHelp Us Help Hospice Georgian Triangle Foundation at Hike & Bike 2024!
It’s that time of year again! The HawkinsRyerse Group will be participating in the Hike & Bike for Hospice 2024 on Sunday May 26th in Collingwood, to help raise funds for Hospice Georgian…
Read More