Hope you had a wonderful weekend. Back to school is here and I am sure all the kids have settled in and got the new school year underway. August was another great month for Waterloo region real estate and here are the stats to keep you right up to date.
There were 459 residential properties sold through the MLS® in August, a decrease of 9.1 per cent compared to the same month last year.
Home sales in August included 267 detached (down 11.9 per cent), and 56 condominium apartments (down 13.8 per cent). Sales also included 97 townhouses (down 4.9 per cent) and 39 semi-detached homes (up 11.4 per cent).
The number of homes sold last month was below the average for August; however, we continue to see strong price gains across all property types.
The average sale price of all residential properties sold in August increased by 6.4 per cent to $524,482 compared to August 2018. Detached homes sold for an average price of $615,568 (an increase of 5.4 per cent compared to August of last year. During this same period, the average sale price for an apartment-style condominium was $324,778 for a decrease of 3.1 per cent. Townhomes and semis sold for an average of $420,239 (up 18.3 per cent) and $441,802 (up 10.2 per cent) respectively.
The median price of all residential properties sold last month increased 8.1 per cent to $495,000 and the median price of a detached home during the same period increased by 2.8 per cent to $560,000.
There were 574 residential properties in K-W and area last month, a decrease of 14.5 per cent compared to August of 2018, and a decrease of 13 per cent in comparison to the previous ten-year average for the month of August. The total number of homes available for sale in active status at the end of August totalled 734, a decrease of 17.3 per cent compared to August of last year, and well below the previous ten-year average of 1,426 listings for August. Months Supply of Homes for sale stood at 1.5 months in August, which is 16.7 percent lower than the same period last year.
The average days it took to sell a home in August was 26 days, which is two days fewer than it took in August 2018.
We’re noting differences in market balance depending on the price range, for homes priced under $600 thousand, it is still a strong seller’s market, whereas above $600 thousand, it is a more balanced situation.
One this to look at is the month’s supply of homes, also known as the absorption rate. For homes priced at more than $600,000, the months of supply stood at 3.4 in August, compared to 0.9 months for homes prices under that amount. Months supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. The previous ten-year average months supply across all price ranges has been just over 3 months.
It all comes down to what the buyers can find in their price range, homes in Kitchener-Waterloo are definitely in high demand, and there is strong competition among buyers trying to find one that will suit them.
If you have any questions or have been thinking of making a move this summer or into the fall, give me a call or text at 519-497-4646 or shoot me an email to email@example.com and lets sit down, grab a coffee and plan out a strategy that is best suited for your families needs.
Have a great September!
September 9, 2019 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Uncategorized | Tags: advertising, appraisal, arrow, assessment, August, backyard, basketball, bauer, being social, blogging, board of education, brokerage, cambridge, canadian, city center, closing costs, commission, condo, condos, district, downsizing, downtown, due diligence, exclusive, facebook, fall, for sale, goal setting, government, green homes, guelph, home, home buying, home inspection, home maintenance, home ownership, home prices, home sales, home selling, homes, homes for sale, house, house for sale, houses for sale, hst, investment, january, kaufman, kitchen cabinets, kitchener, landlord, lawyer, lawyers, lexington, licensing, loft, lofts, mansion, market update, marketing, mls, mortgage, Mortgage News, Mortgage Rates, mortgages, networking, new construction, newspaper, online advertising, ontario, open house, open houses, opportunity, painting, price, prices, private, rates, real estate, real estate investing, real estate market, real estate team, realtor, realty, red, region, Remax, rental, sale, sales, saving money, september, stanley park, summer, tax credit, teamwork, tech savvy, to do list, transit, waterloo, wellesley | Leave a comment
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 firstname.lastname@example.org
Have a wonderful Holiday Season with your family!
December 4, 2015 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: Bank of Canada, condo, condo documents, condo in kitchener, condos in kitchener, eastbridge, facebook, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, land transfer tax, loft, lofts in kitchener, MLLT, Mortgage News, real estate, real estate investing, Remax, sales rep, selling your home, twin city, waterloo, waterloo ontario, waterloo region school board, westvale | Leave a comment
Getting Your Home Ready For Fall
It’s that time again, the kids are heading back to school, the leaves are beginning to change, and the hockey season is finally about to begin. Here are some great tips for getting your home ready for the fall:
Home Exterior: It is recommended that you check your home siding for cracks and holes; clean all debris from your gutters. If you have a fireplace that you use regularly, it might be a good idea to have it checked as well. If you don’t want to do any of these tasks yourself, there are professional services that you can hire to do them.
Thermostat: Programmable thermostats have become more popular among home owners. Raise or lower the temperature remotely and program settings for the temperature to automatically lower during the night. A Programmable thermostat can not only increase your enjoyment of your home, it can save you money as well.
Drafts: You don’t want heat to escape during the colder months of the year. Check for drafts to ensure your home is as efficient as possible.
Organize: As the summer winds down, take some time to clean and organize your summer furniture, tools, etc. This will make your life far easier come next spring/summer. If you are already organizing in your garage, it may be a good time to do a clean or purge while you are there.
Roof: Before every fall and winter you should at least do a visual check of your roof. Has there been significant wear since last year? Look for missing, damaged, or loose shingles. If your roof is flat, it is recommended you remove debris from your roof.
Landscape: Check trees to ensure there are no damaged limbs that could fall on your home or power lines during a strong wind or snow storm. Trim back shrubs, flowers, and bushes in your yard. If you plan on planting bulbs for next spring, the fall is the time to do so. You can also fertilize your lawn, this will help to prevent damage to it over the course of the winter.
Proper maintenance of your home enhances the appeal and value of your home. Also, it can prevent critical emergencies from taking place, which are typically more expensive, time-consuming, and stressful when they occur. Ensure that when the cold weather arrives, your home is ready.
If you have any questions at all or thinking of selling this fall please don’t hesitate to give us a call for a Free Market Evaluation of your home
Have a great day!
August 31, 2015 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Sellers, Uncategorized | Tags: condo, condo buying, condo documents, condo in kitchener, condos in kitchener, facebook, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, kitchener, Kitchener waterloo, kwhometeam, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, Remax, sales rep, waterloo ontario, waterloo region school board | Leave a comment
Do you find that all those, computer, phone, monitor cords etc are a real pain to look at everyday? Do you wish you had a great idea to hide them from sight?
Well here is a great blog post I found on how just to do that. Have a look and have fun with the project
December 15, 2013 | Categories: Buyers, Local Kitchener Waterloo, Random thoughts, Uncategorized | Tags: condo, condo buying, facebook, first time home buyer, full time realtor, home buying, home value, inventory levels, Kitchener waterloo, kwhometeam, loft, lofts in kitchener, market update, real estate, Remax, sales rep, waterloo ontario, waterloo region school board | Leave a comment
With availability of information, mobile phones and websites it is even more important to hire a Realtor based on what they can do for you to get the home sold quickly, efficiently and for the most amount of money. Have a look at this video to hear my thoughts on what you should be looking for when interviewing your Realtor.
December 12, 2012 | Categories: Local Kitchener Waterloo, Sellers, Video Blogs | Tags: brokerage, commission, condo, facebook, first time home buyer, full time realtor, home value, kevin baker, Kitchener waterloo, kwhometeam, loft, lofts in kitchener, marketing, price, real estate, realtor, realty, Remax, sales rep, sales representative, twin city, waterloo ontario, westvale | Leave a comment
If you have been thinking of selling your home yourself here is a great video on one families experience and how they ended up using a Realtor to get the home Sold.
October 17, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: assessment, facebook, first time home buyer, full time realtor, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, real estate, real estate investing, Remax, waterloo ontario, westvale | Leave a comment
Hey Everyone, I attended a CMCH housing forecast last week and then on Tuesday of this week I listened to Craig Alexander, Sr. V.P. and Chief Economist for TD Bank give his predictions on where the housing market is going for 2012. Have a listen and hear my brief synopsis on the info I gathered.
January 27, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Video Blogs | Tags: Bank of Canada, condo, facebook, first time home buyer, home buying, home value, inventory levels, kevin baker, kitchener, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, market update, Mortgage News, Prime rate, real estate investing, Remax, waterloo ontario, waterloo region | 2 Comments