After a busier than normal December, home sale in the Kitchener Waterloo region have cooled off slightly. Sales were down in January compared to January of 2014, with 290 residential properties being sold last month. A 9.9 percent decrease compared to the same month last year. This isn’t unexpected as the winter months are typically not as active leading up to the busy spring market.
January’s residential sales included 188 detached homes (down 9.6 percent compared to January 2014) 57 condos (down 24 percent), 18 semis (up 5.9 percent), and 25 freehold townhouses (up 31.6 percent).
The average sale price of all homes sold in January was $318,075, a decrease of 1.6 percent compared to the same time last year. Single detached homes sold for an average price of $357,018, a decrease of 4.6 percent compared to January 2014.
In the condominium market the average sale price in January was $230,216, a 6.6 percent increase compared to the same month a year ago.
With the recent interest rate cuts and the positive economic predictions for the region by a number of outside sources, this should continue to draw people looking to live and invest in Waterloo Region. The general consensus is that the spring market will again be a very active one.
If you have any questions or are thinking of buying or selling this spring please give me a call and we can discuss how to get started.
Have a great family day weekend everyone!
February 9, 2015 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: condo buying, condo in kitchener, condos in kitchener, first time home buyer, home buying, home staging, home value, interest rate, january, kitchener, market update, real estate, realty, Remax, selling your home, spring market, twin city, waterloo | Leave a comment
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.
December 3, 2012 | Categories: Buyers, Local Kitchener Waterloo, Sellers | Tags: condo, condo buying, fall market, first time home buyer, home buying, home value, inventory levels, kevin baker, Kitchener waterloo, kwhometeam, kwrealestatelife, loft, lofts in kitchener, market update, real estate, real estate investing, Remax, spring market, summer market, waterloo ontario, westvale, when is the best time to sell, winter market | Leave a comment