Hope you had a chance to enjoy the great weather we had on the weekend. It seemed like a very long winter but summer is just around the corner.
Home sales were up in April and we hit an all time high for the Kitchener Waterloo Real Estate Market average home prices which is very big news!!!
There were 623 residential sales in April, an increase of 1.1 per cent versus the same month last year, and up 2.2 per cent compared to the previous ten-year average for April.
Total residential sales in April included 394 detached (up 15.2 per cent), and 75 condominium apartments (up 1.4 per cent). Sales also included 113 townhouses (down 28.9 per cent) and 41 semi-detached homes (no change).
While sales of detached homes did jump a fair bit compared to the same month last year, they were actually on par with the previous 10-year average for April, which means we are getting back to some better market conditions for both buyers and sellers.
The average sale price of all residential properties sold in April increased by 10.9 per cent to $529,800 compared to April 2018. Detached homes sold for an average price of $611,803 an increase of 7.6 per cent compared to April of last year. During this same period, the average sale price for an apartment style condominium was $339,426 for an increase of 14.3 per cent. Townhomes and semis sold for an average of $405,013 (up 5.3 per cent) and $433,949 (up 7.7 per cent) respectively.
Average sale prices hit an all-time high in April. These are the highest sale prices we’ve ever posted in a single month. It’s only the third time the overall residential sale price has exceeded half a million, and for the first time, the average price of a detached home climbed over the 600-thousand-dollar mark.
Likewise, median prices reached an all-time high in April. The median price of all residential properties sold last month increased 11.4 per cent to $490,000, and the median price of a detached home during the same period increased by 11.1 per cent to $568,500
There were 913 residential properties listed in K-W and area last month, a decrease of 6.9 per cent compared to April of 2018, and a decrease of 1.6% in comparison to the previous ten-year average for the month of April. The total number of homes available for sale in active status at the end of April totaled 884, a decrease of 6.1 per cent compared to April of last year, but still well below the previous ten-year average of 1,485 listings for April. Months Supply of Homes for sale stood at 1.8 month in April a decrease of 5.3 per cent compared to last year.
It’s still very much a seller’s market for anyone who is looking for a home under six hundred thousand. In these challenging market conditions, i believe consumers should always seek the expert advice of a local REALTOR®.
If you have any questions or have been thinking of making a move this spring, give me a call or text at 519-497-4646 or shoot me an email to firstname.lastname@example.org and lets sit down, grab a coffee and plan out a strategy that is best suited for your families needs.
Have a wonderful Mothers Day to all the mom’s out there.
May 7, 2019 | Categories: Buyers, Kitchener Waterloo, Loft Style, New Construction, Sellers, Uncategorized | Tags: agent, agents, april, arrow, assessment, banks, bauer, Buyers, cambridge, city center, city centre, closing costs, CMHC, condo, condo prices, condominiums, condos, condos for sale, contribution, days on market, downsizing, downtown, fall, first time buyer, for sale, home, home buying, home energy audit, home maintenance, home prices, home sales, home selling, home value, house, house prices, housing grants, kaufman, kevin baker, kitchener, Kitchener Waterloo, land transfer tax, landlord, landlords, license, loft, lofts, mansion, market, market update, market value, mls, momentum, mortage rates, mortgage, mortgage brokers, mortgage news, mortgage rates, mortgages, ontario, open house, park, prices, prime rate, rates, real estate, real estate agent, real estate investment, realtor, realty, remax, rrsp, rules, sale, sales representative, sales reps, Sellers, selling your home, status, tax refund, TD Bank, to do list, twin city, update, updated, updates, value, waterloo, winter | Leave a comment
Energy Efficient Home Insurance Rebate – Get 10% of your Premium Refunded! – Kitchener Waterloo Condo and loft
Consumers can receive a 10% refund of their mortgage insurance premiums as well as their extended amortization surcharge if they their amortization is more than a 25 years.
Mortgage Insurance Premium Refund 25 years:
|$300,000 mortgage @ 95% LTV||Premium Payable*|
|Standard Premium (95% LTV = 2.75%)||$8,250|
|Energy-Efficient Premium Refund (10%)||($825)|
Mortgage Insurance Premium Refund 30 years:
|$300,000 mortgage @ 95% LTV||Premium Payable*|
|Standard Premium (95% LTV = 2.95%)||$8,850($600) surcharge refund|
|Energy-Efficient Premium Refund (10%)||($1425)|
The following chart will give you an idea in Ontario for the rating required for the year you purchased. You will need to have the rating from the builder or qualfied energy advisor.
* Depending on the closing date of your purchase, the Natural Resources Canada (NRCan) Energy-Efficiency Rating required differs:
|For purchases with a closing date…||EnerGuide Rating Required|
|On or after January 1st, 2013||82|
|From April 1st, 2010 to December 31st, 2012||80|
|From July 27st, 2005 to March 31st, 2010||77|
In order to make an application for a refund you will need to fill out one of the attached forms and send it to your insurer along with and EnerGuide report showing your house rating. The supporting documents cannot be older than five years or a new energy efficiency evaluation will be required. If you renovate your existing home to increase it’s EnerGuide rating by at least 5 points(to a minimum of 40) you can apply for the refund as well.
I have applied and received funds for those that fit the requirements when my clients have bought a house that meets the guidelines. Please contact me if you are looking to purchase an Energy Efficient Home in 2013 that is 82 or higher. At Bennett Capital, we will get you the best rate and apply for the refund for you at closing.
Information provided by Tracy Bennett of Bennett Capital. For More information please contact myself email@example.com or Tracy at firstname.lastname@example.org January 25, 2013
January 28, 2013 | Categories: Buyers, Kitchener Waterloo, Loft Style, New Construction, Sellers, Uncategorized | Tags: CMHC, condo buying, condo selling, condo units, downsizing, first time buyer, home energy, home energy audit, home insurance rebate., kevin baker, kitchener, loft apartments, market update, mortgage, mortgage brokers, new construction, real estate, realtor, remax, twin city realty, waterloo | Leave a comment