KITCHENER-WATERLOO REAL ESTATE-HOMES & CONDOS FOR SALE

Posts tagged “sales rep

Home Sales Slip in September here in Kitchener Waterloo


The fall colors are just starting to come out and Oktoberfest festivities are in full swing here in KW. I hope that you have been able to get out and enjoy the beautiful weather that we have been having this Thanksgiving weekend!

The stats are out for the Waterloo region real estate market and I wanted to share the results.  There were 448 homes sold in September, a decrease of 4.7 per cent compared to September of last year. On a year-to-date basis 4,558 residential units have sold compared to 5,345 during the same period in 2017, a decrease of 14.7 per cent.

The stress-test that came into force on all new mortgages at the beginning of the year has taken some of the steam out of home sales activity, meanwhile home prices continue to rise as inventory levels remain rather low. Residential sales in September included 270 detached (down 6.3 per cent compared to September 2017), and 110 condominium units (up 7.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 30 semi-detached homes (down 18.9 per cent) and 30 freehold townhouses (down 18.9 per cent).

The average sale price of all residential properties sold in September increased 10 per cent to $492,398 compared to the same month a year ago. Detached homes sold for an average price of $574,653 an increase of 11.4 per cent compared to September of last year. During this same period, the average sale price for an apartment style condominium was $325,378 an increase of 24.1 per cent. Town homes and semis sold for an average of $377,442 (up 4.7 per cent) and $386,670 (up 4.1 per cent) respectively. The median price of all residential properties sold last month was up 10.5 per cent compared to September of last year at $453,000, and the median price of a detached home during the same period increased 8.8 per cent to $520,000.

There were 824 residential properties listed in K-W and area in last month, a 10 per cent increase compared to September of last year, and 9 per cent above the historical ten-year average of 755. The number of active residential listings on the KWAR’s MLS® System to the end of September totaled 1,005, which is 18.2 per cent higher than September of last year but 522 units short of the previous ten-year average of 1,527 listings for September.

While the mortgage stress was intended to prevent home buyers in overheated markets like Vancouver and Toronto from borrowing more than they could afford, it has had the unintended consequence of putting the goal of owning a home further out of reach for buyers across all housing markets, including in Waterloo region. This is particularly impactful for first time home buyers where every penny counts.

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.

Happy Thanksgiving!

Kevin

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Monthly Home Sales Up in August for first time in 2018 Here in Kitchener Waterloo


Back to school is here and so is the fall market.  I hope you enjoyed your summer and continue to enjoy the great weather we are still having!  August was a fantastic month in Waterloo Region real estate and here are the stats on how things went.

August home sales were down 0.8 per cent compared to last month and up 4.8 per cent compared to August of last year. A total of 505 residential properties sold in August compared to 482 the same time last year.  For the first time this year we saw monthly home sales increase on a year-over-year basis. On a year-to-date basis, we’re still well below last year’s record-breaking number of home sales but still in line with historical averages.

Residential sales in August included 301 detached (up 5.2 per cent compared to August 2017), and 129 condominium units (up 25.2 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 35 semi-detached homes (down 30 per cent) and 33 freehold townhouses (no change).

The average sale price of all residential properties sold in August increased 11.5 per cent to $493,358 compared to the same month a year ago. Detached homes sold for an average price of $583,564 an increase of 13 per cent compared to August of last year. During this same period, the average sale price for an apartment style condominium was $335,827 an increase of 14.1 per cent. Townhomes and semis sold for an average of $350,803 (up 4 per cent) and $401,011 (up 13.6 per cent) respectively. The median price of all residential properties sold last month was up 10.4 per cent compared to August of last year at $458,000, and the median price of a detached home during the same period increased 18.1 per cent to $543,450.

REALTORS® listed 670 residential properties in K-W and area last month, up 12.7 per cent compared to August of 2017, and 3.4% above the historical (2007-2016) average of 648. The number of active listings to the end of August totaled 917, which is 11.5 per cent higher than August of last year but still significantly below the historical (2007-2016) ten-year average of 1,550 listings for August.

More homes selling in the higher prices ranges in August were at least partly responsible for the increase in the average sale price, but strong demand on the buying side combined with low inventory on the listing side is continuing to keep upward pressure on prices.I certainly don’t see interest in Waterloo region as a place to live and work slowing down anytime soon, so we could definitely stand to see some more housing supply hit the market to meet buyer demand. The average days it took to sell a home in August was 28 days, compared to 26 days in August 2017.

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.

Enjoy your weekend!

Kevin


Home Sales down in Kitchener Waterloo but Prices are stable for July 2018


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.

Have a great August long weekend!

Kevin


Another Record Breaking Month for Kitchener Waterloo Home Sales


 

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.

 

Have a wonderful December and Holiday Season!

Kevin


The Strong Housing Market Continues here in Kitchener Waterloo


 

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

Thanks and enjoy the fall weather.

Kevin


Another Hot Month for Kitchener Waterloo Home Sales


Hi there and hope you had a fantastic summer!

The housing market here in Kitchener Waterloo is as hot as the weather has been this past summer!  There were a total of 598 home sales in KitchenerWaterloo and area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August. This represents a 26.4% increase in sales compared to August of 2015. It also ranks as the most active August on record and 37.6% above the 5-year average for the month. That is simply amazing.

Year-to-date sales also climbed to new heights with 4,703 residential sales so far in 2016. Again, this is the highest on record for this period and 23.4% above the 5-year average.

We are still experiencing a lower than normal listing number with active listings almost half of what they were last year at this time. Active listings through the  MLS® System to the end of August sat at 863, which is 46.6% lower compared to same period last year’s 1,616 homes that were on the market. That means we are still experiencing a very tight market in terms of availability of homes which continues to push up home prices in the region.

August’s sales included 353 single detached homes (up 19.7% compared to August 2015) and 151 condominium type units (up 36.0%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 40 Semi-detached homes (up 14.3%) and 49 freehold townhouses (up 69.0%).

The average sale price of all residential sales in August increased 15.2% to $402,000 compared to August 2015.  Its clear that as a result of the strong residential activity  that buyers remain confident about home values here in the region.

Single detached style homes sold for an average price of $487,050 an increase of 20.9% compared to last year. The average sale price for an apartment style condominium was $233,302, an increase of 7.9%. Townhomes and semis sold for an average of $298,148 (up 10.2%) and $299,353 (up 5.5%) respectively.

Overall. the market is extremely competitive and if you are thinking of selling your home now is a great time to take advantage of the strong home prices. If you have any questions or would like to get together for a coffee and discuss how we can help with your housing needs please give me a call or text  at 519-497-4646. You can also email me at kevinbaker@kwhometeam.ca


Kitchener Waterloo Posts Record Number of Sales for First Half of 2016


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.

Have a great July!

Kevin