Fall is here, and that brings with it leaves falling and the beautiful colors of the season. I hope you had a great Halloween with the kids and today i thought i would let you know how the Real Estate did market here in Waterloo region.
There were 514 homes sold through the Multiple Listing System (MLS® System) in October, an increase of 7.8 per cent compared to October of last year. On a year-to-date basis 5,070 residential units have sold compared to 5,822 during the same period in 2017, a decrease of 12.9 per cent. It was a stronger than average October for home sales and listing activity for sure. Gradually increasing interest rates could be nudging both buyers and sellers from the sidelines of the housing market in my opinion.
Residential sales in October included 297 detached (up 4.6 per cent compared to October 2017), and 128 condominium units (up 19.6 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 36 semi-detached homes (down 18.2 per cent) and 47 freehold townhouses (up 23.7 per cent).
The average sale price of all residential properties sold in October increased 7.7 per cent to $489,725 compared to the same month a year ago. Detached homes sold for an average price of $576,731 an increase of 6.2 per cent compared to October of last year. During this same period, the average sale price for an apartment style condominium was $310,215 an increase of 24.1 per cent. Townhomes and semis sold for an average of $387,602 (up 10.9 per cent) and $403,750 (up 13.8 per cent) respectively.
The median price of all residential properties sold last month was up 6.5 per cent compared to October of last year at $444,500 and the median price of a detached home during the same period increased 8.5 per cent to $525,350. Not surprisingly we’re seeing the biggest surges in average price happening in the denser forms of housing such as condos. This is partly a reflection of demand being strongest in the entry-level price ranges as well as there being more newly constructed units in the mix.
New listings totaled 760 residential properties in K-W and area in last month, a 14 per cent increase compared to October of last year, and 12.7 per cent above the historical ten-year average of 674. The number of active residential listings at the end of October totaled 1,014, which is 21 per cent higher than October of last year but still 461 units fewer than the previous ten-year average of 1,475 listings for October.
If you have any questions or are thinking of buying or selling a property in the coming months, please give me a call at 519-497-4646 or email to kevinbaker@kwhometeam.ca and we can sit down, grab a coffee and discuss the best way to make it a smooth move for your family.
I hope you and the family have been enjoying the great summer weather that we have had this year. Any big vacations planned for August?
I know that Real estate is always a topic of conversations when you are sitting around the deck entertaining family and friends so here is some information so you are up to date on what is happening here in Waterloo Region.
July home sales were down 16.8 per cent compared to last month and down 10.6 per cent compared to July of last year. A total of 504 residential properties sold in July compared to 564 in the same month last year. On a year-to-date basis, there have been 3,601 home sales during the first half of the year, a decrease of 18.0 per cent.
The story for July is largely more of the same that we’ve been seeing for most of 2018. The number of sales has decreased from what we were seeing the past couple of years to more typical levels, but the value of homes not only remains steady but continues to gradually increase.
Residential sales in July included 282 detached (down 23.4 per cent compared to July 2017), and 130 condominium units (up 14.0 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 53 semi-detached homes (up 35.9 per cent) and 35 freehold townhouses (down 5.4 per cent).
The average sale price of all residential properties sold in July increased 5.5 per cent to $480,145 compared to the same month a year ago. Detached homes sold for an average price of $584,337 – an increase of 12.4 per cent compared to July of last year. During this same period, the average sale price for an apartment style condominium was $292,714, an increase of 4.3 per cent. Townhomes and semis sold for an average of $359,278 (up 2.2 per cent) and $387,664 (up 9.8 per cent) respectively. The median price of all residential properties sold last month was up 7.1 per cent compared to July of last year at $443,700, and the median price of a detached home during the same period increased 12.8 per cent to $530,000.
There were 739 residential properties listed in K-W and area last month, down 8.9 per cent compared to July of 2017. The number of active residential listings the Kitchener Waterloo MLS® System to the end of July totaled 1,062, which is 3.3 per cent higher than July of last year but still down from the historical (2007-2016) ten-year average of 1,885 listings for July.
The competition from buyers is still out there, but not nearly as prevalent as the past two years. This is showing up in the $400,000-$600,000 price point where we continue to see the shortest average days on market. I think this reflects both the move-up market as well as the typical home that buyers who migrated down the 401 were purchasing. There is no doubt the mortgage stress-test is impacting buyers. Overall the market here in the Waterloo region remains strong and we seeing that continuing into the fall.
If you have any questions or are thinking of buying or selling a property in the coming months, please give me a call at 519-497-4646 or email to kevinbaker@kwhometeam.ca and we can grab a coffee and discuss the best way to make it a smooth move for your family.
It was a Huge year for Home Sales in 2017 here in Kitchener Waterloo with total residential sales volume surpasses 3 billion. There were 6,549 homes sold in Kitchener-Waterloo and area last year through the Multiple Listing System (MLS® System), just one percent behind last year’s record smashing results.
The year ended strong with 301 home sales in December, which is a slight one per cent above December of 2016, and 13 per cent above the previous five year average.
There was a definite push by some buyers to purchase a home prior to the new mortgage stress test kicking in January of 2018. While we appreciate the intent of these additional
changes, ultimately they will make it harder for some consumers to purchase the home they want. Picking up on the momentum from 2016, the first half of 2017 was characterized by an unparalleled number of home sales. Then in the latter half of the year, on the heels of the Ontario government’s announcement of the Fair
Housing Plan, the pace of sales began to decrease while still remaining above the previous five year’s averages.
There is almost universal agreement that the introduction of the Ontario Fair Housing Plan, which included a tax on non-residents who purchase homes in the Greater Golden Horseshoe (GGH) did contribute to the decline in home sales in the last half of the year, however that was mostly due to the psychological impact it had on buyers and sellers in the marketplace. For Waterloo Region these impacts were not yet as acute as in other areas of the GGH, but we are certainly concerned that any additional restrictions will further impede consumer affordability for homes.
Total residential sales in 2017 included 4,005 detached (down 4.2 per cent), and 1,461 condominium units (down 2.9 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 545 semi-detached homes (up 27.6 per cent) and 467 freehold townhouses (up 10.9 per cent).
The consumer demand we experienced in 2017 was certainly strong enough to have outnumbered 2016 home sales, however the continued tight supply of listings last year served to tamp down unit sales and drive up prices. While the number of homes that were put up for sale was in keeping with previous years, inventory tracked low all
year long as buyers continued to snap up properties at a terrific rate. The average days it took to sell a home in 2017 was 19 days, compared to 43 days if you were to average out the previous 10 years.
Dollar volume of all residential real estate sold last year increased 19.5 per cent to just over three billion ($3,061,739,723) compared with 2016, reflecting the strong price gains realized in 2017 and marking the first time sales have surpassed the three billion dollar milestone. The average sale price of all residential properties sold in 2017 increased 20.7 per cent to $467,513 compared to 2016. Detached homes sold for an average price of $549,046, an increase of 21.5 per cent compared to 2016. During this same period, the average sale price for an apartment style condominium was $271,940 for an increase of 18.3 per cent. Townhomes and semis sold for an average of $353,692 (up 23.6 per cent) and $378,275 (up 25.9 per cent) respectively.
The median price of all residential properties sold last year increased 21.1 per cent to $429,900, and the median price of a detached home during the same period increased 22 per cent to $495,000. With the continued influence of GTA buyers migrating to Waterloo region last year, 2017 was a great year if you were selling your home, but not so fun for those who were in the purchasing position. The quality of life enjoyed living in Waterloo Region has always been at the top compared to many other communities, even though our historical home prices have been relatively affordable. I think this secret is out now, and the activity of buyers from the GTA last year certainly demonstrates this.
While the frenzied buying activity has cooled under the multitude of newly-imposed government regulations, looking ahead we expect the demand to continue to be greater than the supply. While the balance is shifting, we do not believe there will be any decreases in property values and if anything, the correction for Waterloo Region was watching it increase. Of course, this will continue to put pressure on affordability for many would-be homebuyers.
The new stress test that just came into effect on January 1 is going to push some buyers out of the market and force others to purchase homes at a lower price point than they want as it reduces their ability to borrow.
If you have any questions on our local real estate market or if you are thinking of buying or selling a home or condo in 2018 please don’t hesitate to give me a call at 519-497-4646 or email to kevinbakerrealestate@gmail.com We can grab a coffee and discuss how I can help.
The trend continues here in the Kitchener Waterloo housing market as well as many other urban centers in Ontario. It was another record breaking month for homes sales in the region mostly due to the lack of inventory.
Home sales through the Multiple Listing System (MLS® System) totaled 535 last month, an increase of 27.1 percent compared to November of 2015, marking another record breaking month for residential properties sold. November’s sales included 352 single detached homes (up 34.4 percent compared to November 2015) and 118 condominium type units (down 22.9%) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 32 semi-detached homes (up 45.5 percent) and 28 freehold townhouses (down 20 percent).
Record breaking sales are also being tallied on a year-to-date basis with 6,352 residential transactions compared to 5,341 during the same period in 2015, representing an increase of 18.9 percent. “Year-to-Date Sales to the end of November have now exceeded any previous end-of-year totals on record.
In 2007, sales to the end of the year exceeded 6,000 units for the first time, and haven’t hit that high-water mark again, until now, an entire month earlier. Inventory levels on the other hand, remain stubbornly low. In their October release, the Canadian Real Estate Association stated that, “the tight balance between housing supply and demand in Ontario’s Greater Golden Horseshoe region is without precedent (including the GTA, Hamilton-Burlington, Oakville-Milton, Guelph, Kitchener-Waterloo, Cambridge, Brantford, the Niagara Region, Barrie and nearby cottage country).” As of the end of November, the KWAR’ MLS® System only had 565 active residential listings on the market, down 23.1 percent compared to the previous month, and 60.8 percent below the same period last year.
The average price of all residential properties sold in November was $411,602 a 15.5 percent increase over 2015. Detached homes sold for an average price of $473,104, an increase of 13.9 percent compared to November 2015. During this same period, the average sale price for an apartment style condominium was $209,360, a decrease of 8 percent. Townhomes and semis sold for an average of $310,151 (up 14.8 percent) and $330,534 (up 27.7 percent) respectively.
With a notable shortage of inventory, many properties are selling above list price and this is because you have many buyers competing for fewer properties, and this is pushing up the average price. The median price of all residential properties sold in November increased 18 percent to $377,500, and the median price of a detached home during the same period increased 16.4 percent to $425,000.
In my opinion those are some staggering numbers and there is no sign of it slowing down in the near future.
If you have any questions on the information or are thinking of buying or selling your home now or in the spring please give me a call and we can sit down and discuss the best options and strategies for you and your family.
It was another healthy month here in Waterloo region for home sales with prices continuing to rise and many Buyers being left to wonder if they will ever be able to finally buy that elusive home. The Multiple offers continue to show up everywhere. Demand is certainly far outweighing supply at this point. A strong appetite for home ownership combined with slimmer inventory levels means it’s a sellers market and its here to stay for the foreseeable future.
Here are some stats:
Last month a total of 577 residential properties sold in KitchenerWaterloo and area though the Multiple Listing System (MLS®), an increase of 24.4 percent compared to October of 2015, and an all-time high for the month. October’s sales included 359 single detached homes (up 18.9% compared to October 2015) and 130 condominium type units (up 28.7%) which include any property regardless of style. Sales also included 41 semi-detached homes (down 105 percent) and 39 freehold townhouses (up 2.6 percent).
Record breaking sales are also being tallied on a year-to-date basis with 5,818 residential transactions compared to 4,920 during the same period in 2015, representing an increase of 18.3 percent. Conversely, inventory levels are low with only 729 active residential listings on the market to the end of October, a decline of 11 percent compared to the previous month, and 53.9 percent below the same period last year.
The average price of all residential properties sold in October was $408,067 a 12.7 percent increase over 2015. Detached homes sold for an average price of $478,685, an increase of 14.3 percent compared to October 2015. During this same period, the average sale price for an apartment style condominium was $225,221, an increase of 5.6 percent. Town homes and semis sold for an average of $307,294 (up 17.6 percent) and $329,966 (up 23.9 percent) respectively.
The median price of all residential properties sold in October increased 17.2 percent to $375,000, and the median price of a detached home during the same period increased 16.8 percent to $438,000.
New measures by the federal government which introduced a mortgage rate “stress test” on all new insured mortgages took effect on October 17, 2016. While the overall impact of these changes is yet to be fully understood, It is likely that some first-time homebuyers rushed to purchase prior to the stress test coming into effect.
If you have been thinking of selling or have any questions on things give me a call and we can sit down and discuss some different options and strategies for your family to be competitive in the new housing market that we are experiencing.
You can contact me at 519-497-4646 or email direct to kevinbaker@kwhometeam.ca
It is another fantastic month for Real Estate here in the Waterloo Region. The Region had another record setting month with 740 properties sold in Kitchener-Waterloo and area in the month of June. This represents a 13.1% increase compared to the June of 2015, and ranks as the most active June on record. Honestly in my 15 years as a Realtor I have not seen a market like this one.
During the first half of 2016, there were 3,519 home sales, 18.0% above last year’s total for the same period and 22.8% above the 5-year year-to-date average. That would make the highest number of home sales we have ever recorded in the first half of the year.
On a monthly basis, home sales were 29.7% above the 5-year average for the month of June. As sales continue their upward trend, active residential listings continue to remain depressed in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of June sat at 1,199, which is 33.9% lower compared to same period last year. This translates to 51.4% fewer available listings on the market today than the same time last year. That means the market needs more sellers to keep up with the high demand of buyers that are looking in the area. With some of the prices that homes have been selling for, now is a great time to get your home up on the market.
June’s sales included 485 single detached homes (up 13.6%) and 145 condominium type units (up 2.1%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 46 Semi-detached homes (up 9.5%) and 54 freehold townhouses (up 42.1%).
The average sale price of all residential sales in June increased 11.2% to $390,144 compared to June 2015. With fewer listings on the market combined with an increased interest in people wanting to live in the Region, we’re seeing upward pressure on home prices.
Single detached style homes sold for an average price of $451,289 an increase of 10.7% compared to last year. The average sale price for an apartment style condominium was $232,999, an increase of 8.0%. Townhomes and semis sold for an average of $277,672 (up 14.5%) and $296,572 (up 10.6%) respectively.
If you have been tossing around the idea of selling your home, give me a call and we can sit down and look at the best options for you and your family.
All I have to say is WOW!!!! What an incredible month for the Kitchener Waterloo and Cambridge Real Estate Markets. The market is on fire with many homes selling over list price in multiple offer situations. The buyers seemed to be lined up out the door if you have a property under the 430k mark in certain neighborhoods of town.
Here are some of the stats from the past month. There were 752 properties sold in KW and area which represents a 19.6% increase compared to May of 2015, and a 27.7% increase compared to the 5-year average for the month of May.
This is the first time since 2007 that residential sales in May exceeded seven hundred units. Year-to-date sales for 2016 also hit an all-time high with 2,776 homes sold in the first five months of the year, 19.2% above last year’s total for the same period and 21.0% above the 5-year average.
Active listings however are down in comparison from last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of May is at 1,283 which are 26.1% lower compared to same period last year. This translates to 35.2% fewer available listings on the market today than the same time last year.
So what does that mean? If you are thinking of selling your home now is a great time to do it. Unfortunately you may also wish to buy and that could prove challenging with the lower than usual inventory buyers often find themselves competing with other buyers, for the same property.
With steady interest rates expected into the later part of 2016 and early 2017, and steady employment growth, the region is poised to continue the demand for housing and we should see balanced market conditions return for the foreseeable future in Waterloo Region.
May’s sales included 474 single detached homes (up 15.6%) and 166 condominium type units (up 37.2%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 47 Semi-detached homes (down 11.3%) and 56 freehold townhouses (up 27.3%). The average sale price of all residential sales increased 7.3% to $378,248 compared to May 2015. Single detached style homes sold for an average price of $438,708 an increase of 9.8% compared to last year. The average sale price for an apartment style condominium was $221,073, a decrease of 1.2%. Townhomes and semis sold for an average of $277,355 (up 1.1%) and $296,751 (up 10.2%) respectively.
If you have any questions on the stats or are thinking of making a move in the near future, please give me a call and we can sit down, grab a coffee and look at your options.
It was another Fantastic Month for Home Sales here in Waterloo Region with 584 properties sold in the Kitchener Waterloo area.
This represents a 16.3% increase compared to the March of 2015, and ranks as the highest March on record since 2010. That is just incredible.
During the first quarter of 2016, there were 1,350 home sales, 23.9% above last year’s total for the same period and 17.8% above the 5-year quarterly average and the highest quarter on record since 2010. On a monthly basis, home sales were 16.6% above the 5-year average for the month of March. The mild weather has brought the buyers out in droves and the spring market is well underway!
March’s sales included 383 single detached homes (up 11.2 %) and 110 condominium type units (up 26.4%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 38 Semi-detached homes (down 2.6%) and 42 freehold townhouses (up 50.0%).
The average sale price of all residential sales increased 5.8% to $371,733 compared to March 2015. Single detached style homes sold for an average price of $428,495 an increase of 9.2% compared to last year. The average sale price for an apartment style condominium was $211,117, a decrease of 11.9%. Townhomes and semis sold for an average of $284,226 (up 9.7%) and $276,562 (up 0.6%) respectively.
Sales activity in the $350,000 – $399,999 range increased significantly in the month of March with 98 homes sold in that range, a 78.2% increase from the same time last year. Yes I said 78.2%!! That is clearly evident with all the multiple offers that we have been involved in over the past month.
Year-to-date residential sales in the $300,000-$399,999 remain most popular with 490 sales to date accounting for 36.3% of all residential sales. Pushing the average sales price up for the month were increased sales in the $500,000 – $749,999 range, which posted a 31.6% increase in units sold, compared to March 2015
All in all, Kitchener Waterloo is still showing that we have a vibrant economy and home values are continuing to show strength.
If you have any questions on the information above or are interested in buying or selling in the coming months feel free to give me a call at 519-497-4646 or email to kevinbaker@kwhometeam.ca
Happy New Year! I hope you are enjoying the winter weather that has finally arrived.
It was another strong finish for the Residential Real Estate market here in Waterloo Region in 2015.
A total of 5,563 sales were processed through the Multiple Listing Service (MLS®) which was an increase of 4.9% percent compared to sales in 2014 . Unlike 2014, which remained slow almost half the year, 2015 only lagged behind in home sales for the first two months of the year. With relatively normal winter weather and no ice storm or polar vortexes, the spring market did not experience the same delay seen in 2014.
Residential sales finished this year with 293 home sales in December compared 262 the same time last year in Kitchener-Waterloo and area. This equates to an 11.8% increase in the number of sales for the month. This month there were 168 detached homes (down 4.5%), 80 condominiums (up 53.8%), 20 townhomes (up 33.3%) and 23 semi-detached (up 21.0%) sold, with the average price of all homes sold this month coming in at $367,121 (up 8.2%).
Overall It’s been a fantastic year for home sales in the Region, which speaks volumes about the economy, the opportunities and innovation taking place in Waterloo Region.
Total residential sales in 2015 included 3,576 single detached homes (up 4.9% from 2014), 409 semi-detached (up 4.6%), 398 townhomes (up 2.3%) and 1,180 condominium units (up 5.9%). The average sale price of all residential sales in 2015 increased 3.9 percent to $348,888 in comparison to 2014. Single detached homes sold for an average price of $400,456 (up 3.5%), semi-detached for $268,400 (up 3.4%), townhomes for $301,005 (up to 4.1%) and condominiums sold for an average of $237,735 (up 7.3%).
Locally, Waterloo Region remains a strong and stable housing market. The excitement around the area from the ION, the burgeoning tech sector, the rural and urban blend position Waterloo Region as a highly desirable place to live and invest.
If you have any questions regarding the local Real Estate market, thinking of buying or selling this spring or know of someone that is, please let me know. I am always happy to help and provide advice where ever I can.
Realtors and Home owners here in Waterloo Region and across Ontario have spoken and the Minister of Municipal Affairs and Housing has heard our outrage. The Minister confirmed this week that the government will not give the municipalities the ability to charge the Municipal Land Transfer Tax.
This is fantastic news for everyone in the region!!!
Now that this bullet is dodged, here in Waterloo Region it was another good month of home sales with a total of 413 residential properties sold last month compared to 376 in November last year. This number included 254 single detached homes (up 10.0% from last November), 22 semi-detached (down 45%), 33 townhomes (down 15.4%) and 99 condominium units (up 37.5%).
Average prices also increased 8.2% to an average price of $412,581 for single detached homes. Condo’s were up 7.3% with an average of $225,341, while townhomes and semis sold for an average of $313,015 (up 13.8%) and $257,995 (down 1.9%) respectively. Average sale price of all residential sales through the Kitchener Waterloo MLS system increased to $350,703 up 6.7%
With 2015 drawing to a close shortly we have had another outstanding year for homes sales in Waterloo Region. CMHC is forecasting steady mortgage rates and stronger employment in the Region for 2016 and that means continued demand for housing. Comparing our prices here against our neighbors in the GTA, Waterloo Region still remains very affordable.
If you are looking to make a move in the spring and would like to have a better idea of what your home is worth click here now. Whether buying or selling give me a call and let’s sit down for a coffee and discuss how we can help make the move to a new home a smooth one for you and your family. I can be reached at 519-497-4646 or email to kevinbaker@kwhometeam.ca
People of Ontario get ready. The provincial government is talking about giving each municipality the power to implement its own Land Transfer Tax in addition to the federal one that we all pay for purchasing a new property. It’s a tax realtors have never stopped fighting in Toronto since it was introduced seven years ago, and now our worst fears may be coming true.
The Ontario Real Estate Association (OREA) insisted Tuesday the governing Liberal party is going ahead with plans that will allow municipalities to follow Toronto’s lead and implement their own land transfer tax. Ontario government officials deny anything has been decided. The plans were revealed by the Toronto Sun Tuesday.
Picture this, buyers in Toronto purchasing a $1 million home get slapped with a $32,200 tax to transfer property, $15,725 of which is the city of Toronto’s portion.
We have seen an influx of people moving west of the GTA to purchase homes in the Waterloo Region, due in part to prices as well as avoiding the Double Taxation in Toronto.
I have little doubt that once the province allows the tax to proceed, municipalities will take advantage of it. Once one starts I believe they will all fall like dominoes. This means that the Ontario home buyers will pay the highest land transfer tax in North America.
When Toronto implemented the double tax, they saw lower prices equal to if not greater than the amount of the tax. The problem is that it is just not one tax, but every purchase after that as well.
So what does that mean for the Residents of Waterloo Region? If the tax does come into effect it could be a major factor in deciding between buying or waiting. The effect on prices and availability of homes could certainly be affected. With the economy here in the region still very strong and housing prices showing no signs of any significant slow down, this may not be the news that we want to hear. We will just have to wait and see what the result will be if the plan does move forward.
If you have any questions on any real estate related topic feel free to shoot me an email at kevinbaker@kwhometeam.ca or give me a call at 519-579-4110.
Its been another strong month of home sales here in the Waterloo Region. With a total of 459 sold through the Multiple Listing System (MLS®). The month of August did post a 2.1% decrease in home sales compared to the same month last year across Kitchener-Waterloo and area. However, home sales in the month of August were 9.5% percent above the 5-year average for the month.
This strong sales activity helped bring year-to-date total sales to 3,991, a 6.1% increase compared to the same time last year, and 6% above the 5-year average. Year-to-date sales were also the highest on record since 2008. There was strong residential sale activity this summer season and with recording setting year-to-date sales it’s clear that buyers remain confident about the value of homes in Kitchener-Waterloo and area.
Residential sales in August included 284 single detached homes (down 2.1% from last year), 35 semidetached (up 2.9%), 29 townhomes (down 17.1%) and 107 condominium units (down 0.9%). The average sale price of all residential sales through the KWAR’s MLS® System increased 6.6% percent last month to $347,057 compared to August 2014. Single detached homes sold for an average price of $401,533 an increase of 6.2% percent compared to last year. The average sale price for a condominium was $241,508, an increase of 7.7% percent and the average sale price for a freehold townhome was $300,546, an increase of 2.9% percent from the same time last year.
Overall these numbers show that the real estate sector here in the Kitchener Waterloo is showing no signs of slowing down and points to a long term stability and strength.
If you have any questions on any of the information provided above or would like to discuss your specific real estate needs please give us a call or email to kevinbaker@kwhometeam.ca
Its been a very busy home buying and selling season in June for the residents of Kitchener Waterloo and Waterloo Region. There were 626 homes sold through the Multiple Listing System (MLS® System). This represents a 9.4% increase compared to June of 2014, and 15.8% above the 5 year average for the month June.
Residential sales in the first half of 2015 totaled 2,949, an 8.1% increase compared to the same time last year, and 2.7% above the 5-year average. This marks the highest number of homes sold in the first half of the year since 2010.
On a year-to-date basis, the average sale price of all residential sales (KW and area) increased 2.6% to $347,105 compared to 2014. Single detached homes sold for an average price of $396,191 an increase of 1.3% compared to last year. The average sale price for a condominium units sold in the first half of the year was $235,081, an increase of 5.3 per cent over 2014. The housing market in Kitchener-Waterloo continues to show strength Buyers have confidence in Waterloo Region, that combined with low mortgage and interest rates should continue to support home sales in 2015.
Sales for the month of June in KW and area included 407 single detached homes (up 7.1 %), 137 condominium units (up 24.5%), 42 semi-detached (up 7.7%) and 35 freehold townhouses (down 12.5%). Across KW and area the average sale price of all residential sales through the Kitchener Waterloo MLS® System increased 0.2% to $351,259 compared with June 2014.
Looking at transactions strictly in the cities of Kitchener-Waterloo residential sale prices increased 3.2 percent to $344,405 compared to the same time last year. Single detached homes sold in June across KW and area had an average price of $408,569 an increase of 0.9% compared to last year. Condominium market prices were up 4.2%, with the average condo unit selling for $225,390.
If you have any questions or would like more specific neighborhood information about your home please feel free to give me a call 519-497-4646 or email direct at kevinbaker@kwhometeam.ca
It was another fantastic month for the local real estate market here in Waterloo Region .There were 553 home sales in Kitchener-Waterloo and surrounding area through the Mls system.
This represents an 8.4% increase compared to May of 2014, and 9.6% above the 5 year average for the month May. With a total of 2,926 home sales occurring through the Kitchener Waterloo Real Estate Board, year-to-date sales are 3.3% above the five year average.
Although sales numbers in Kitchener-Waterloo are higher in comparison to May of last year, they are on par with the month of April, at 1.7% above last month’s residential sales numbers, a difference of nine home sales. It’s been a very busy but typical spring market. Low mortgage interest rates and a diverse local economy continue to support home buying in Waterloo region.
Much like the month of April, sales activity in the $300,000 – $349,999 posted a healthy increase in the month of May with 126 homes sold in that range, a 24.8% increase from the same time last year. Sales in the $400,000 – $499,999 also increased with 81 sold in this price range, a 28.6% increase.
Sales in KW included 355 single detached homes (up 4.7 %), 113 condominium units (up 28.4%), 44 semi-detached (up 2.3%) and 40 freehold townhouses (up 8.1%). The average sale price of all residential sales through the Mls, increased 1.6 percent to $343,750 compared to May 2014. Single detached homes sold for an average price of $390,704 an increase of 1.1% compared to last year. Condominium market prices were up 7.1%, with the average condo unit selling for $237,649.
If you have any questions or are thinking of buying or selling in the coming months feel free to give me a call.
It was another solid month of home sales in March here in Waterloo Region. Residential property sales through the MLS system continued to climb month over month with 619 properties sold. This represents a 15.1 percent increase compared to the March of 2014 which was the second lowest March on record since 2006.
During the first quarter of 2015, there were a total of 1,343 home sales, 3.6 percent above last year’s total for the same period and 8.4 percent below the 5 year quarterly average, which is again great news and shows continued strength of our local housing market.
Sales activity in the $300,000 – $349,999 increased significantly in the month of March with 151 homes sold in that range, a 49.5% increase from the same time last year. Pushing the average sales price up for the month were increased sales in the $500,000 – $749,999 range which posted a 61.5% increase equating to 63 sales compared to 39 in March 2014.
March’s sales included 436 single detached homes (up 25.3 %), 95 condominium units (down 2.1 %), 41 semi-detached (down 8.9) and 41 freehold townhouses (down 6.8%).The average sale price of all residential sales increased 7.4 percent to $347,722 compared with March 2014. Single detached homes sold for an average price of $384,635 an increase of 4.0 percent compared to last year. In the condominium market prices were up 12.1%, with the average condo unit selling for $238,846.
Overall the market is still moving forward and prices remain stable. We are expecting another busy spring market which seems to be well underway at this point.
If you have any questions about the local market or would like more information on home prices for your neighborhood, please feel free to give me a call or email direct at kevinbaker@kwhometeam.ca
The Stats are in and it was another GREAT year for the Waterloo Region housing market.
More homes were sold in 2013 than in the previous two years, and the 6,366 residential sales processed through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) this past year were above the 10-year average.
In a year when troubling news concerning one of the region’s largest employers dominated not only headlines, but the hearts and minds of many, the Kitchener-Waterloo housing market fared remarkably well.
“Throughout last year we saw the fate of Waterloo region called into question by those who didn’t fully grasp the depth of our region’s overall economy,” said Lynn Bebenek, President of the KWAR. “While the strength of our housing market is only one economic indicator, this past year demonstrated the confidence buyers and sellers have in Kitchener-Waterloo’s real estate market.”
Sales of homes got off to a slow start in 2013 before heating up in May and stayed strong through to the end of the third quarter. In December, following two months of slower activity, a total of 279 residential properties sold, representing an increase of 3 percent over the same month last year.
The dollar volume of sales in 2013 increased 6.5 percent over last year, totalling $2,057,707,041 and surpassing the “2 billion” dollar mark for the first time in the KWAR’s history.
Close to half of all residential properties (47%) sold above $300,000 in 2013 compared to 43% in 2012. The average price of all residential properties sold in 2013 increased 4 percent to $323,335. Single detached homes sold for an average price of $366,907 in 2013, an increase of 3.7 percent. In the condominium market the average sale price in 2013 was $216,866, an increase of 1.5 percent compared to the previous year.
Home sales in 2013 included 4,241 detached homes (up 4.2 percent from 2012), 1,151 condos (down 3.9 percent), 505 semis (up 3.7 percent), and 399 townhouses (down 0.3 percent)
KITCHENER-WATERLOO, ON (November 5, 2013) –– Residential property sales through the Multiple Listing System
(MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in October were down 4.0 percent
compared to October of last year.
A total of 481 residential properties were sold compared to 501 the same time last year. Year-to-date sales are
up 3.3 percent with 5,620 homes trading hands so far this year. That stands 2.2 percent above the 5-year
average and up 3.2 percent from the same time in 2012. Residential sales in September included 313 single
detached homes (down 2.8% from last October), 44 semi-detached (down 8.3%), 36 town homes (up 9.1%) and
85 condominium units (down 7.6%).
“On a monthly basis the number of sales in October was in line with the average of the past 5 years,” says
Dietmar Sommerfeld, President of KWAR. “Looking at year-to-date figures, homes sales are the highest they’ve
been compared to the last five years.”
Sommerfeld says he is confident about the local economy and the region’s housing market, pointing to a
recent Canadian Mortgage Housing Corporation (CMHC) report (Fall 2013) that states steady mortgage rates
combined with stable/increasing employment in the Region will continue to keep housing demand strong
moving into early 2014.
Single detached homes sold for an average price of $352,807 an increase of 3.6 percent compared to last
year. The average sale price for a condominium was $214,226 a decrease of 0.7 percent compared to
October of last year. The average sale price of all residential sales through the KWAR’s MLS® System increased
3.3 percent to $312,785 compared to October 2012.
If you ever have any questions on the information provided or specific pricing of your home feel free to give me a call to discuss. I am always happy to help.
Closing Day is fast approaching and one of the most important things is to make sure you have planned for all the closing costs that come up when you are buying or selling a home. Have a look at the video I did to learn why this is a very important step in the process.
So Closing day is only days away, the packing is still going on, you have boxes filling every room in the house. Your agent calls and asks if you would like to do a final walk through of the home. Even though you are crazy busy it is still a necessary and important part of the process. Have a look at the video to why…
Eastbridge is a newer subdivision of Waterloo. With fairly new schools, close to Rim Park, hiking trails, the Grey Silo golf course http://www.greysilo.com , this neighborhood boasts many high end homes and leads the way as one of the higher priced neighborhoods in Waterloo. Check out my video on the sales results since January 1, 2010. Also go to to see more on Eastbridge http://www.eastbridge.info/
KITCHENER WATERLOO HOMES ONLINE.com 