KITCHENER – WATERLOO CONDOS & LOFTS FOR SALE

Posts tagged “home energy

Strong Condo sales in Kitchener Waterloo and Cambridge for July

Hope you had a wonderful long holiday weekend. The weather was absolutely perfect and looks like its going to be a hot one for August as well.

Here are the stats from the July market here in Waterloo Region and it continues to stay strong. There were 586 residential properties sold in July, representing an increase of 15.1 per cent compared to the same month last year.

Home sales in July included 322 detached (up 16.4 per cent), and 62 condominium apartments (down 6.1 per cent). Sales also included 148 townhouses (up 45.1 per cent) and 42 semi-detached homes (down 22.2 per cent). On a year-to-date basis we’re seeing sales have increased slightly over last year.

The average sale price of all residential properties sold in July increased by 9.3 per cent to $521,101 compared to July 2018. Detached homes sold for an average price of $613,244 (an increase of 5.4 per cent compared to July of last year. During this same period, the average sale price for an apartment-style condominium was $339,137 for an increase of 15.9 per cent. Townhomes and semis sold for an average of $414,062 (up 17 per cent) and $434,136 (up 11.9 per cent) respectively.

The median price of all residential properties sold last month increased 10.8 per cent to $489,450 and the median price of a detached home during the same period increased by 8.8 per cent to $575,750

There were 844 residential properties listed in K-W and area last month, an increase of 12.8 per cent compared to July of 2018, and an increase of 10.4 per cent in comparison to the previous ten-year average for the month of July The total number of homes available for sale in active status at the end of July totaled 863, a decrease of 8.7 per cent compared to July of last year, and well below the previous ten-year average of 1,467 listings for July. Months Supply of Homes for sale stood at 1.7 months in July, which is 15 percent lower than the same period last year.  That is still making it a tight market for buyers and sellers.

There is still strong consumer demand that is making for a busier than normal market for the middle of summer.

The average days it took to sell a home in June was 22 days, which is the same number of days it took in July 2018.

Historical Sales By Property Type

Months Supply of Homes for Sale

Historical Median Sales Price – By Property Type

Historical Average Sales Price – By Property Type

Historical Sales – By Price Range

Average Days on Market

If you have any questions or have been thinking of making a move this summer or into the fall, give me a call or text at 519-497-4646 or shoot me an email to kevinbaker@kwhometeam.ca and lets sit down, grab a coffee and plan out a strategy that is best suited for your families needs.

Have a great August!

Kevin

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Energy Efficient Home Insurance Rebate – Get 10% of your Premium Refunded! – Kitchener Waterloo Condo and loft

Energy Efficient Home Insurance Rebate – Get 10% of your premium refunded!

CMHC-Green-Home Refund

Genworth Energy Rebate Form

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)
Total Premium $7,425

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)
Total Premium $7,425

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 kevinbaker@kwhometeam.ca or Tracy at tracy.bennett@bennettcapital.ca  January 25, 2013