KITCHENER-WATERLOO REAL ESTATE-HOMES & CONDOS FOR SALE

Posts tagged “seagrams

Home sales had 2nd best November on record here in Kitchener Waterloo


Hope you are having a great week and all ready for the upcoming holiday season.  I wanted to take a moment to bring you up to date on what is happening in the Kitchener Waterloo real estate market. November was a great month here in Waterloo region with the 2nd best home sales on record for November.

Last month a total of 483 residential properties sold in Kitchener-Waterloo and area through the MLS® system.  Home sales were up 14.2 per cent in November compared to the same month last year, and up 19 per cent compared to the previous 10-year November average of 406 sales, making it the second-best November on record.

November’s sales included 265 detached (up 9.5 per cent compared to November 2017), and 152 condominium units (up 52 per cent) which includes any property regardless of style. Sales also included 27 semi-detached homes (down 46 per cent) and 31 freehold townhouses (up 14.8 per cent).  For the second straight month we are reporting stronger than average sales, which is great to see. The prospect of further interest rate increases that were indicated last month could be responsible for the current surge in home sales.

The average sale price of all residential properties sold in November increased 7.6 per cent to $477,526 compared to the same month a year ago. Detached homes sold for an average price of $580,551 an increase of 12.8 per cent compared to November of last year. During this same period, the average sale price for an apartment style condominium was $305,334 an increase of 10 per cent. Townhomes and semis sold for an average of $361,177 (down 2 per cent) and $416,878 (up 10.7 per cent) respectively. The median price of all residential properties sold last month was up 6.3 per cent compared to November of last year at $443,800 and the median price of a detached home during the same period increased 9.5 per cent to $520,000.

Waterloo region continues to be a very desirable place for purchasing a home, and affordability is a concern in Waterloo Region as we continue to see prices increase, especially for detached homes. While we believe this is more a reflection of our region being “discovered” by buyers from the GTA, it is resulting in more entry-level clients pursuing condominiums and townhomes. Combined with an ongoing tight supply of listings buyers are facing continued upward pressure on sale prices in the region.  There were 597 residential properties listed in K-W and area in last month, a 1.1 per cent decrease compared to November of last year, but 18.2 per cent above the historical ten-year average of 505. However, the number of active residential listings on the Kitchener Waterloo MLS® System to the end of November totalled 888, which is 12.8 per cent lower than November of last year and 449 units fewer than the previous ten-year average of 1,337 listings for November.

If you have any questions or are thinking of buying or selling in the coming months, please give me a call and we can sit down for a coffee and talk about some strategies that would work for your family needs. I also want to wish you and your family a wonderful holiday season and all the best for 2019.

Merry Christmas!

Kevin

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Stronger home sales here in Kitchener Waterloo for October


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.

Enjoy your week!

Kevin


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


January Home Sales Snowed Under in Kitchener Waterloo


Hope you are enjoying the winter so far.. I personally can’t wait for the warmer weather of spring to arrive.  Here are the stats on how the Kitchener Waterloo market did in the month of January.
There were 270 residential sales in January through the Multiple Listing System (MLS® System), a decrease of 18 per cent compared to January 2017. On the surface, activity appears to be somewhat sluggish in January, however if we set aside the past two years, it was a very typical January in terms of the number of sales. What is less typical is that listing inventory is still at historic low levels, and we continue to see multiple offers on properties putting upward pressure on prices.
Total residential sales in January included 149 detached (down 23.6 per cent), and 70 condominium units (down 11.4 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 27 semi-detached homes (down 18.2 per cent) and 22 freehold townhouses (up 10 per cent).
The average sale price of all residential properties sold in January increased 9 per cent to $458,750 compared to January 2017. Detached homes sold for an average price of $554,857 an increase of 10.7 per cent compared to January of last year. During this same period, the average sale price for an apartment style condominium was $246,821 for an increase of 4 per cent. Townhomes and semis sold for an average of $371,095 (up 14.5 per cent) and $388,974 (up 9.7 per cent) respectively. The median price of all residential properties sold last month increased 6.8 per cent to $431,143, and the median price of a detached home during the same period increased 4.2 per cent to $495,000.
While the tougher mortgage rules that came into play on Jan. 1 have sidelined some home buyers, the reality is we’re still experiencing more demand than supply right now, there were  486 residential properties listed in K-W and area last month, an increase of 10.45 per cent compared to January of 2017. The number of active residential listings  the end of January totaled 588, which is 56 per cent more than January of last year, but still well below the previous ten-year average of 1507 listings for January. Months of inventory continues to track at a low 2 months.
The average days it took to sell a home in January was 32 days, compared to 23 days in January 2017. While the majority of MLS® System activity is properties for sale, REALTORS® also represented landlords and tenants in 51 residential leases in January, an 18.6 per cent increase compared to January 2017. There is no question that the expansion of the stress test on mortgages is going to be hard on consumers. For those entering the market, the stress test combined with higher borrowing costs is going to push some buyers out of their desired market. Some home buyers will be looking to other areas, and more affordable housing types, which is a vicious circle. For some home hunters, Waterloo region is still seen as one of the more affordable markets.
If you have any questions on the stats or are thinking of buying or selling a property in the coming months please give me a call and we sit down, grab a coffee and discuss the best strategy to fit your families needs. Give me a call at 519-497-4646 or email direct to baker_kevin@rogers.com
Have a great Valentines Day!
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


Exceptional Loft in Uptown Waterloo. – Kitchener – Waterloo condos for sale


Location, location, location.  The ultimate urban lifestyle awaits you at the historic Seagram’s Lofts.  In the heart of Uptown Waterloo steps to dining, shopping, town square, theatres, transportation, Perimeter Institute, Centre for International Governance and Innovation, Balsillie School of International  Affairs  and more.

This rare ground floor unit offers a delightful private terrace with water feature and  is lovingly landscaped for three season enjoyment.  Some commercial possibilities for in home business make this an attractive option for the entrepreneur.

The open concept main floor offers a dramatic arrangement of two    storey windows, original brick architectural  accents, open kitchen with breakfast bar, stainless steel appliances, hardwood flooring, vintage fireplace mantle and a versatile floor plan to accommodate your   furnishings.

Upper floor luxury sized master bedroom that can easily accommodate a king sized bed  overlooks the magnificent great room for a light an airy effect.

Other features include, upper floor laundry, walk in closet, two baths, main floor second bedroom or den, custom UV window blinds, curtains, highly   desirable garage plus an additional parking space.

Amenities include, on site superintendent,  storage locker, fitness centre, guest suites, bike storage, billiard room,  roof top and ground level barbeque areas.

Contemporary, sophisticated yet comfortable with the ease of the  condominium lifestyle, the perfect place to call home.

If you have any questions please feel free to email at kevinbaker@kwhometeam.ca or call 519-579-4110. For pictures please visit http://www.kwhometeam.ca/Waterloo/Ontario/Homes/Uptown/Agent/Listing_31468294.html