Market Update for Kitchener Waterloo July 2013 – Homes Condos and lofts for sale
Hey Everyone, Here are the stats for the Waterloo Region and it looks like another great month. With a solid July we are now in positive territory for the year on Sales Volume, while prices remain up from last year which is great news for home sellers. If you have any questions or need any advice on buying or selling please feel free to give me a call at 519-579-4110 or email to kevinbaker@kwhometeam.ca
HOME SALES CONTINUE UPWARD TREND
KITCHENER-WATERLOO, ON (July 4, 2013) –– Residential property sales through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) half way through
the year are up 1.4 per cent compared the same time last year. Residential sales totaled 3,511, 2.2
per cent ahead of the previous 5-year average of residential sales year-to-date.
In the month of June 648 residential properties were sold compared to 607 in June of last year,
representing a 6.8 per cent increase in sales volume.
“Residential sales in Kitchener-Waterloo continue to perform well” says Dietmar Sommerfeld,
President of KWAR. “We’re seeing a slow and steady upward trend in sales which is exactly what we
like to see, stable and steady growth.”
June’s sales included 422 single detached homes (up 9.9 % from last year) 122 condominium units
(down 7.6 %), 58 semi-detached (up 9.4 %) and 35 freehold townhouses (up 6.1 %). Year-to-date
residential sales display a similar distribution with 2,367 single detached homes (up 3.6 %) 605
condominium units (down 9.4 %), 283 semi-detached (up 6.0 %) and 218 freehold townhouses (up 0.5
%).
On a year-to-date basis, the average sale price of all residential sales increased 4.6 per cent to
$327,569 compared to 2012. Single detached homes sold for an average price of $371,898 an
increase of 4.2 per cent compared to last year. The average sale price for a condominium units sold
in the first half of the year was $215,219, an increase of 2.7 per cent over 2012.
July 8, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Uncategorized | Tags: condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, market update, mortgage, real estate, realtor, remax, sales reps, tanglewood condo, twin city realty, waterloo | Leave a comment
Kitchener Waterloo Market Update for May 2013 – Condos and Lofts for sale
HOME SALES HEAT UP IN MAY
KITCHENER-WATERLOO, ON (June 4, 2013) –– Residential property sales through the Multiple Listing System (MLS®
System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in May were up 16.1 per cent compared
to the same time last year. Led by strong sales of single detached homes, it’s the first time sales have surpassed
the 700 unit mark in the Month of May since 2007.
A total of 765 residential properties were sold in the month of May compared to 659 the same time last year.
Comparing the 5-year average for the month of May shows a 16.3 per cent jump in activity this past month.
Year-to-date sales are practically on par with the same time last year nudging up by six residential sales.
“Waterloo region’s residential real estate market was alive and well in May, says Dietmar Sommerfeld, President
of KWAR. “On a year-to-date basis, we are seeing sales activity that is right in line with last year’s results and a
little above the 5 year average.”
May’s sales included 528 single detached homes (up 17.9 % from last year) 122 condominium units (up 2.5 %),
59 semi-detached (up 20.4 %) and 45 freehold townhouses (up 18.4 %). Year-to-date residential sales were 3.5
per cent above the 5-year average with a total of 2,860 units to date.
The average sale price of all residential sales through the KWAR’s MLS® System increased 6.9 percent last month
to $333,288 compared with May 2012. Single detached homes sold for an average price of $378,473 an
increase of 7.4 per cent compared to last year. The average sale price for a condominium was $212,638, an
increase of 3.8 percent compared to May 2012.
“The spring home buying season was in full swing in May,” says President Sommerfeld. “This was reflected in the
strong price gains and is a sign of the confidence that homebuyers have in the local housing market and
Waterloo region as a great place to live and invest.
June 12, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Uncategorized | Tags: condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, market update, mortgage, mortgage brokers, new construction, real estate, realtor, remax, twin city realty, update, waterloo | Leave a comment
Carney Says Interest Rates Stay Put – Kitchener Waterloo Homes and Condos for sale
Rates Stay Put in Carney’s Last Announcement
The Bank of Canada is keeping the key policy rate unchanged in the last rate announcement under outgoing Governor Mark Carney. The Bank said that Canadian “growth in the first quarter was stronger than the Bank projected” and that looking ahead “consumer spending is expected to grow at a moderate pace, business investment to grow solidly,” and inflation to remain subdued. The Bank also noted that “growth in total household credit is slowing.”
As we’ve seen in previous announcements, the Bank indicated that our historic low rates “will likely remain appropriate for a period of time” as a result of continued weakness in the economy, but hinting that any future rate move will likely be a modest rate increase.
The prime rate for most lenders should stay at 3%, exactly where it has been for almost three years, since September 2010.
The Bank’s next rate decision is scheduled for July 17.
If you have any questions on rates or the Real Estate market in Waterloo Region feel free to give me a call.
May 30, 2013 | Categories: Buyers, Kitchener Waterloo, Loft Style, Sellers, Uncategorized | Tags: CMHC, condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market update, mortgage, new construction, real estate, remax, twin city realty, update | Leave a comment
Kitchener Waterloo Real Estate Market Update for April 2013
APRIL SHOWERS BROUGHT MAY FLOWERS…AND HOME BUYERS
KITCHENER-WATERLOO, ON (May 6, 2013) –– Residential property sales through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in April were
identical compared to April last year.
Home sales in April were 1.9 percent above the 5-year average for the month. There were a total of
683 residential properties sold in the month of April compared to 683 the same time last year. In
comparison to March, residential sales grew 11.6 percent, continuing the trend of increasing home
sales since the beginning of 2013.
“Low interest rates and a strong local economy continue to make it favourable for people to invest in
homes in the Region,” says Dietmar Sommerfeld, President of KWAR. “This April set a record for dollar
volume of sales compared to the last 10 years.”
April’s sales included 471 single detached homes (up 3.5 % from last year) 117 condominium units
(down 7.9 %), 47 semi-detached (down 14.5 %) and 41 freehold townhouses (down 2.4 %). Year-todate residential sales were only 1.1 percent below the 5-year average with a total of 2,085 units to date.
The average sale price of all residential sales through the KWAR’s MLS® System increased 6.2 percent
last month to $334,777 compared with April 2012. Single detached homes sold for an average price
of $378,936 an increase of 6.1percent compared to last year. The average sale price for a
condominium was $216,209, a decrease of 0.7 percent compared to April 2012.
May 9, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Uncategorized | Tags: CMHC, condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, market update, mortgage, new construction, real estate, realtor, remax, twin city realty, waterloo | Leave a comment
Spring Condo Market Update for Kitchener Waterloo Real Estate – April 2013
Here is the latest report on how the market is doing in Kitchener Waterloo and the region of Waterloo as of the end of march 2013. As always if you have any questions or need any advice as to when a good time to buy or sell is please give me a call at 519-579-4110 or email kevinbaker@kwhometeam.ca
KITCHENER-WATERLOO, ON (April 4, 2013) –– Residential property sales through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were in keeping
with the 10-year historical average for the first quarter.
During the first quarter of 2013, there were a total of 1,397 home sales, 7.6 percent below last year’s
total for the same period.
“Home sales have been affected by tightened mortgage rules,” says Dietmar Sommerfeld, President
of KWAR. “First time buyers are most impacted but at the same time low interest rates should help
foster a healthy upcoming spring market.”
Home sales in the month of March totalled 607 units, 9.4 percent lower than the same month a year
ago and 1.5 percent below the 5-year average. March’s sales included 393 single detached homes
(down 12.1 %), 107 condominium units (down 12.3 %), 58 semi-detached (up 5.5) and 43 freehold
townhouses (up 7.5%).
While sales were down last month compared to the same period a year ago home sales have
increased month over month since January of this year and the average sale price of all residential
sales increased 2.9 percent to $320,229 compared with March 2012. Single detached homes sold for
an average price of $367,714 an increase of 3.4 percent compared to last year. In the condominium
market prices were up 3.6%, with the average condo unit selling for $206,298
April 10, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Uncategorized | Tags: condo, condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, market update, new construction, real estate, realtor, remax, sales reps, twin city realty, update, waterloo | Leave a comment
Kitchener Waterloo Real Estate Market Update for 2013 – Remax Realtor Kevin Baker
I listened to Craig Alexander, Chief Economist for TD Bank speak yesterday on where he see’s the Real Estate market going for 2013. Have a look at the video to hear my thoughts on what he had to say.
January 18, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Video | Tags: condo, condo buying, condo selling, condo units, condo value, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market update, new construction, ontario, real estate, remax, twin city realty, waterloo, waterloo region | Leave a comment
Status Certificates and Why They Are So Important – Kitchener Waterloo Condos and Lofts
If you are in the process of looking to buy a Condo or Loft space its important to make sure that any offer to purchase that you do has a Status Certificate condition in it. Have a look at the video to hear how you can protect yourself from a large and costly bill.
October 29, 2012 | Categories: Buyers, Kitchener Waterloo, Loft Style, New Construction, Sellers | Tags: condo, condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, market update, new construction, real estate, realtor, remax, status, status certificate, twin city realty, waterloo | Leave a comment
Home Inspections are Important Even on Condo’s – Kitchener Waterloo Condos for sale
Please make sure that when you are doing your offer to purchase with your Realtor that you include a clause that allows you the right to do a home inspection, even on a condo . Have a look at the video to hear why this is in important part of any offer.
February 6, 2012 | Categories: Buyers, Kitchener Waterloo, New Construction, Video | Tags: condo, condo buying, condo value, first time buyer, kitchener, waterloo | Leave a comment
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