8 Friday, February 9, 2024 brooklintowncrier.com Direct: 905 655 7236 Office: 905 239 4800 Eleanor KingEleanor King B. N. B. N. RealtorRealtor Maurice KingMaurice King B.E.D.S., B.Arch.B.E.D.S., B.Arch. RealtorRealtor What others are saying... "Trusted advisor!" | "Customer Focused!" | "Local Expert!" | "Professional!" | "Knowledgeable!" "Hard Working!" | "Accessible!" | "Dependable!" | "Patient!" | "Reliable!" "Well Prepared!" | "Honest!" | "Strong Negotiator!" "Superb Service!" Want to know what's happening in the market? Want to Know the Value of your House? Call Us Now! 905.655.7236 There is no cost or obligation! Your Trusted Source to Buy, Sell or Invest! 905.655.7236 view 1000's of Homes for sale at KingHomeTeam.com or KingOfBrooklin.com MARKETING YOUR HOME FOR ALL IT IS WORTH! Why Didn't My House Sell?Go to KingHomeTeam.com/blog for answers.It's a great time to Buy!Homes are on Sale! Now Under Construction! Townhouse Pre-Construction Sale! **Photo similar to house being built Not intended to solicit those under contract. INTEREST RELIEF ON THE HORIZON? Sidelined buyers breathed another collective sigh of relief when the Bank of Canada (BoC) announced its decision to hold the key interest rate at five per cent in its first interest rate update of 2024. Many economists predicted the rate hold - the fourth consecutive since the central bank's last rate increase in July 2023. Inflation has been falling over the past few months as increased interest rates driven by the BoC helped slow the economy. While the BoC says inflation is still too high, economists at some major banks predict interest rates will drop in June. Other economists predict rates will drop later this year. If you're a first-time buyer or want to move, that's likely the news you've been waiting to hear, though you must continue to take a wait-and- see approach. High borrowing costs coupled with "unrealistic" federal mortgage qualification standards resulted in an "unaffordable homeownership market" for many house- holds in 2023, which resulted in "slower sales," the Toronto Regional Real Estate Board (TRREB) notes. It reported 65,982 home sales through its MLS System in 2023 - a 12.1 per cent dip compared to 2022. Despite an uptick during the spring and summer, the number of new listings also declined in 2023. The average selling price for all home types in December 2023 was $860,622, representing a 1.6 per cent decline compared to 2022 for Durham. Those who were active in the market benefitted from more choice and many were able to negotiate lower selling prices, which helped offset higher borrowing costs, TRREB adds. While home prices across the country are currently trending down- wards, that's not uncommon during the winter months. Generally, prices begin to edge upwards before the beginning of the spring market. Here in Durham Region, 468 homes exchanged hands in December 2023 - a 23 per cent increase compared to December 2022, the Central Lake Association of Realtors reports. The average house sold for $860,622, down from the annual peak in June 2023 of $999,787. Once the market hits bottom and prices start to climb, some real estate experts believe buyers will race to get back into the market before prices peak once more. TRREB predicts home sales will rebound this year and suggests tighter market conditions will prompt renewed price growth in the months ahead. Record immigration continues to push overall demand for housing. New Construction Homes in Brooklin The King Home Team: Royal Heritage Realty is pleased to announce the last phase of Brooklin Winchester Park by DeNoble Homes is being released. Choose from two-storey homes on 35-foot and 50-foot lots, bungalows on 40-foot lots facing the park, and bungalows and bungalofts on 50-foot lots. Whether you're looking to enter the market this spring or are interested in buying a DeNoble Home, contact The King Home Team: Royal Heritage Realty today. We're also here to offer knowledgeable advice if you find yourself in a financial bind when it comes time to renew your mortgage. We're committed to helping our clients enjoy the peace of mind that comes with having the stability of an affordable place to live. Please visit our website at www.kinghometeam.com for a longer version of this article, including information about why Durham Region continues to offer great value in the Greater Toronto Area. Search 1000's of Homes. Find SOLD details in your neighbourhood at search.Look4DurhamHomes.com Now Under Construction! Thinking of Making a Move? Call us for similar results! 905.409.6730 Pre-Construction Bungalows for Sale! 40 and 50 ft Lots! About 2023! By Elizabeth Roy As 2023 closed, so did my first year as Whitby's mayor. I am incredibly proud of what Whitby Council and the Town of Whitby have accomplished in 2023 and grateful to be able to share a few highlights from the past year with you. • One of my first priorities after being elected, was to work with residents and stakeholders to create a Community Strategic Plan. More than 3,000 people took part in the public engagement process and told us about their priorities for Whitby. The plan was approved by Council in June and includes 62 measurable action items, that be reported on annually so we can openly evaluate our progress. • The Town took concrete action to bring more family doctors to our town by partnering with Oshawa Clinic Group to recruit and retain 10 new family physicians for the West Whitby Health Centre, set to open in summer 2024. Each physician will carry a roster of 1,000 patients by their third year of practice, resulting in 10,000 more residents with a local family doctor. The Town is also working with the Region of Durham on a Regional Family Physician Recruitment Program. • We continued to advocate for a new hospital in Durham, at the Whitby site announced by an independent panel in January 2021. Lakeridge Health is operating at capacity and needs 1,793 beds by 2041 -- more than double the current count. At the Association of Municipalities of Ontario conference in August, I was part of a delegation to Health Minister Sylvia Jones and Associate Minister Michael Tibollo, on the need for the province to support us on a new hospital. Through our #DurhamHealthMatters campaign, we are sharing the many reasons this is a top priority. • In response to rising food insecurity, I hosted a roundtable with food bank leaders from across Whitby. As a result of that session, Feed the Need in Durham has partnered with the Town of Whitby to open a new "market model" food bank in Whitby. The Town will be offering former office space at Iroquois Park Sports Centre. Feed the Need is also the recipient of a $15,000 grant from the Mayor's Community Development Fund to help support this project. The food bank is expected to open in Spring, 2024. • Homelessness has become a crisis in Whitby and across Durham. The Town of Whitby is supporting the Region of Durham's work to open a 45-bed shelter at 1635 Dundas St. E. as well as Durham's first family shelter on Colborne Street and a warming centre at Regional Headquarters in Whitby. I recently hosted a roundtable with Whitby's faith leaders to discuss how the Town can support them in supporting people who are experiencing or at risk of homelessness. • Development is booming in Whitby. In September, we celebrated the groundbreaking of the new Whitby Sports Complex located on Baldwin Street south of Hwy 407. We also marked a ribbon-cutting for Station No. 3 condos - the biggest development to come to downtown Whitby in more than 30 years with 160 residential units and 10,000 square feet of retail space. A new Amazon sort Centre in Whitby, will be the largest in Ontario, creating 500 jobs, while the new Dockside development at the waterfront will include 1,500 residential units and 30,000 square feet of commercial and retail. • Whitby upped its tourism activity in 2023, introducing new tourism branding with the tagline "discover something new to enjoy" and a new website and Instagram presence. As part of this work, the second edition of the Whitby Food Guide was released to showcase our amazing food scene (it's been viewed over 9,800 times!) and a Town Brewery pop-up at the Pumphouse brought new life to the waterfront this summer. We also increased our culture offerings, including two pop-up events this summer - Paint Night in the Park and Sala and Sunset - which drew more than 500 people combined. • Safety continues to be a major priority, especially when it comes to addressing speeding on our roads. The Town has committed to introducing new traffic calming measures on 10 streets each year and work is underway on a new Traffic Calming Policy. I recently brought police, school board and Town of Whitby representatives together for a community safety roundtable, and this group will be working on action items to make our school zones safer. These are just a few examples of what has been accomplished in 2023. There is so much on the horizon for 2024 that I can't wait to share with you. - Elizabeth Roy is Mayor of the Town of Whitby