KITCHENER-WATERLOO REAL ESTATE-HOMES & CONDOS FOR SALE

Posts tagged “fall market

No Signs of Cooling the Hot Kitchener Waterloo Real Estate Market


The trend continues here in Kitchener Waterloo with no signs of cooling. The demand for homes is Hot Hot Hot.

A total of 540 residential properties changed hands in Kitchener Waterloo and area though the MLS® System.  This represents a 29.2 percent increase in sales compared to September of 2015, and is a new record high for the month.

On a year-to-date basis 5,241 residential units have sold compared to 4,456 during the same period in 2015, an increase of 17.6 percent. This is the first time sales have exceed the 5000 unit mark at the end of the third quarter. The demand is strong but the supply of homes still continues to lag well behind. Residential listing inventory  totaled 815, a decline of 51 percent compared to September 2015.

Showing the most traction, were the sales of condominium type units, which include any property regardless of style (i.e. semis, town homes, apartment, detached etc.), increasing 80.6 percent to 130 transactions in September relative to the same month a year ago.

Meanwhile, 333 single detached homes sold last month, an increase of 19.8 percent, compared to last year. September’s sales also included 31 Semi-detached homes (down 18.4 percent) and 33 freehold townhouses (up 22.2 percent).

The average price of all residential properties sold year-to-date was $380,692, a 9.7 percent increase over 2015. The average price of a detached home to the end of the third quarter was $443,554, an 11.8 percent increase over 2015. During this same period, the average sale price for an apartment style condominium was $231,187, an increase of 4.5 percent. Townhomes and semis sold for an average of $281,709 (up 8.3 percent) and $293,167 (up 8.5 percent) respectively.

The median price of all residential properties sold year-to-date increased 9.9 percent to $350,000, and the median price of a detached home during the same period increased 10.9 percent to $400,500. Like many other markets in Ontario, it continues to be a sellers’ market here in Waterloo region. Due to the outweighing demand over supply, its putting upward pressure on prices.

With the new changes by the federal government, introducing the mortgage rate “stress test” on all new insured mortgages, could delay home purchases for some first time home buyers, as they assess what they can afford, and possibly save for a bigger down payment.

I don’t believe that these changes will impact our area to a large degree, the very fact that the government is taking steps could cause a slight cooling of the market.

If you have any questions or are thinking of buying or selling this fall please give me a call and we can discuss some strategies that would work best for you.

Have a great Thanksgiving!

Kevin


September Kitchener Waterloo Home Sales Reach Record High!


All i have to say is WOW!  It was a very busy month in the Kitchener Waterloo Real Estate market.

Here are the numbers…A total of 553 residential properties were sold through the Multiple Listing System (MLS®) in September, marking a new record high for the month on September. Home sales were up 14.3 percent over last year.

On a year-to-date basis 5,210 residential units have sold compared to 5,138 during the same period in 2013.

This confirms my thoughts that due to the traditional slower than usual spring market  was pushed into the summer months because of the brutal winter weather we experienced earlier in the year. It also followed up on a very active month of August.

More sales in the higher price ranges in September contributed to an 8.8 percent increase in the average price of a detached home to $385,780 compared to last year.  The average price for a condominium was $233,321, an increase of 4.8 percent over September 2013. The average sale price of all residential sales increased 7.7 percent to $338,350 over September 2013.

Residential sales in September included 359 single detached homes (up 15.1% from last September), 48 semi-detached (up 6.7%), 35 townhomes (on par with last year) and 108 condominium units (up 27.1%).

The average price of all residential properties sold year-to-date was $337,661, a 4 percent increase over 2013. The average price of a detached home to the end of the third quarter was $383,885, a 4.3 increase over 2013.

This is fantastic news once again for the Kitchener Waterloo Real Estate Market and we are looking forward to another above average month in October.

If you have any questions on the information above or would like to discuss any of your Real Estate needs whether buying or selling, feel free to give me a call at 519-579-4110 or email direct to kevinbaker@kwhometeam.ca

Have a wonderful month

Kevin


Home Sales Remain Strong in Month of August – Kitchener Waterloo Home and Condo Market Update


With the summer over and September and the school season upon us the real estate market is back in full swing. The summer showed very good sales vs previous years with a total of 567 homes sold. The month of august posted a 9.2% increase in the home sales compared to the same month last year.  Homes sales in the month of August were also 9.3% above  the 5 year average for the month and were second highest on record compared to August sales in the last 5 years.

Kitchener Waterloo and the entire region continues to be strong. Higher than average sales activity in August and year-to-date speaks volumes about the confidence consumers have in our local economy and home ownership as an investment.

The breakdown of residential sales included 367 single detached homes ( up 4.9% from last year), 42 semi-detached (up 13.5%) 39 townhomes (up 77.3%) and 115 condominium units (up 11.7%). The year to date numbers are up 2.7 percent compared to the five year average with 4648 homes being sold.

If we look at average sale price of all residential homes sold through the Multiple listing service system, there was an increase of 3.9 percent last month to $329,892 compared to August 2013. Single detached homes sold for an average price of $378,251 and increase of 5.4 percent compared to last year. The average sale price for a condo unit was $225,167 an increase of 1.5 percent and the average sale price for a freehold townhome was $287,369, a decrease of 1.9 percent from the same time last year.

Overall a fantastic month in the Kitchener Waterloo Housing market. We expect the trend to continue in to the fall selling season as well.

If you have any questions or would like more specific pricing on your home or something that you are looking at purchasing please feel free to give me a call at 519-579-4110 or email direct to kevinbaker@kwhometeam.ca


When is the Best Time to Sell? – Kitchener Waterloo Homes for sale


One of the questions I get asked a lot is….”is now a good time to sell my home?  With Christmas and winter just around the corner the answer might be different than you think. Have a look at the video to hear my thoughts.


Home Staging and the Upcoming Fall Market – Kitchener home for sale


With the fall market just around the corner, it’s time to see what you can do to get your home sold if you have been on the market for a while.
Please watch the video and hear my thoughts on the upcoming fall market and the value of home staging.