Although there are concerns about some empty stores in Cobourg, there are other businesses that seem to be doing well.  But even if you are doing well, it may be time to retire or simply move on.  In addition, some businesses are tenants and the owners of their building want to sell. When businesses and buildings sell, it lets everyone know what the market thinks that these properties and businesses are worth.  Real Estate agents have to publish their offerings to connect with buyers yet they are also often coy about letting the public know because the business may not want clients to know they are thinking of moving out or maybe shutting down.  In many cases, there are two… Read complete articleCommercial Properties Update – March 2019

With interest rates rising, there has been a lot of talk that homes would be less affordable so prices would go down – but that has not happened, at least not yet.  Instead they are fairly steady in both Toronto and Cobourg.  In my last report in September, average house prices in August were around $480K and now they are nearer $430k although still higher than mid-year 2017.  But prices vary tremendously depending on location and other features.  The backlog (or to put it in realtor terms “inventory”) is larger which probably means some houses are not selling because they are overpriced – if a house is taking too long to sell, it seems to me that few people want… Read complete articleHouse prices stay level – sort of

There are a lot of restaurants in Cobourg with a large concentration downtown. Today I walked along King street from Hibernia to Victoria Park and counted 18 restaurants although that did include some that would be better described as coffee shops. There are also at least another 6 nearby.  Some are new and some are up for sale – a new addition is the Taste of Agra, an Indian restaurant which occupies the space formerly used by the Golden Chopsticks which moved a few doors along.  I have listed them all below. The building housing the Matterhorn has now been listed for $899K with the statement that the restaurant is owner operated. I take this to mean that the current… Read complete articleCobourg’s Downtown Restaurants

Since my last report in May, house prices in both Toronto and Cobourg have been steady although the Real Estate people will point out that prices in August 2018 were 19% higher than August 2017 (see chart below).  Inventory is below average but there is no frenzy happening like there was in the spring of 2017.  Listings and sales are relatively slow – sales are down 30% from this time last year. However, they are better than earlier in the year. In August, the average price in Toronto was $765k and the average in West Northumberland (mostly Cobourg) was $479K.  This is significantly up from 2 years ago when it was around $360K and way up from 9 years ago… Read complete articleHouse Prices Steady, New Development Approved