May 2014 Update for Kitchener Waterloo Condo Market
The nice weather looks like it is finally here to stay which is great news for the local Kitchener Waterloo Real Estate Market. Over the past months we have been experiencing a slight slow down in sales mostly due to the abnormally cold weather we have been having. The weather man is promising nicer weeks ahead and a warm summer so that is great news.
Although sales in April are up over March of this year, we are down year over year approximately 6%. The condo market here is Kitchener Waterloo is growing at a fast pace with many new building projects underway but the sales there have remained flat.
The great news is that prices are still climbing. Average price is up 2.9% or almost $344,000. That means that even with the low inventory levels that we have been experiencing the buyers are still out there and willing to pay to get the home of their dreams.
For a complete rundown on the stats you can read them below. If you have any questions on the market in general or specific pricing of your home feel free to give us a call. We would be happy to come over.
APRIL HOME SALES UP OVER MARCH, DOWN YEAR-OVER-YEAR
KITCHENER-WATERLOO, ON (May 6, 2014) – There were fewer residential property sales through the
Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS®
(KWAR) in April compared to the same month last year.
A total of 652 residential properties sold in the month of April compared to 691 the same time last
year, a decrease of 5.6 percent. In comparison to March, residential sales grew 21 percent,
continuing the trend of monthly increases in home sales since the beginning of this year.
“We’re continuing to see increasing sales activity month after month,” says Lynn Bebenek President
of the KWAR. “Persistently bad weather seems to have delayed decision to buy or sell homes, but the
combination of increasing monthly sales, lower mortgage rates and some sun should drive increases
in the months ahead.”
April’s sales included 445 single detached homes (down 6.1 % from last year) 121 condominium units
(on par with last year), 38 semi-detached (down 19.1 %) and 41 freehold townhouses (down 2.4 %).
Year-to-date residential sales were 6.6 percent below last year with 1,948 residential homes sold thus
far.
While sales were a little slower this month the average sale price of all residential sales through the
KWAR’s MLS® System increased 2.9 percent to $343,839 compared with April 2013. Single detached
homes sold for an average price of $387,130 an increase of 2.2 percent compared to last year. The
average condominium price was up 9.8 percent selling for $237,008, partially due to the sales of
higher end condominium townhomes alongside traditional condos.
May 6, 2014 | Categories: Buyers, Kitchener Waterloo, Loft Style, Sellers | Tags: CMHC, condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, mortgage, mortgage brokers, new construction, real estate, realtor, remax, twin city realty, update, waterloo region | Leave a comment
April Real Estate Update for Kitchener Waterloo – A Slower March to Spring
KITCHENER‐WATERLOO HOME SALES ‐ A SLOWER MARCH TO SPRING
KITCHENER‐WATERLOO, ON (April 3, 2014) –– Residential property sales through the Multiple Listing System
(MLS® System) of the Kitchener‐Waterloo Association of REALTORS® (KWAR), were down 12 percent last month,
compared to March 2013. There were 536 residential sales reported during the month of March, 23 percent more
than in February.
Looking at the first quarter of 2013, there were a total of 1,293 residential sales, a decrease of 7.3 percent
compared to last year’s 1,395 sales.
“As everyone knows, we’ve just come off of one of the harshest winters on record”, says Lynn Bebenek, president of
the KWAR. “Anecdotally speaking I’ve heard from several business operators who say they’ve experienced a
slowdown this winter because of extreme cold and snow, and our residential real estate market was no different.”
Bebenek adds, “On the bright side, everyone has buyers waiting and hopes are resting on a busy spring.”
Home sales in March 2013 included 347 detached homes (down 13 percent), 98 condominium units (down 4.9
percent), 44 semi‐detached (down 24.1 percent), and 43 townhomes (on par).
The dollar volume of residential sales in the first quarter of 2014 came in at $423,915,584, a 5.9 percent decline
compared to the same period last year.
Single detached homes sold through the KWAR’s MLS® System in March went for an average price of $368,896,
virtually unchanged from the same month last year when the average price was $368,706. On a year‐to‐date basis,
the average price of a single detached home sold for $377,711, a 3.4 percent increase.
The average sale price of all residential sales also increased a negligible 0.1 percent to $322,833 last month
compared to the same month last year. On a year‐to‐date basis, the average price edged up a little higher to
$327,854, representing a 1.6% increase over 2013.
If you have any questions or would like a Pricing Analysis on your home please give me a call at 519-579-4110
April 4, 2014 | Categories: Buyers, Kitchener Waterloo, Sellers, Uncategorized | Tags: condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft buying, loft selling, market update, mortgage, new construction, real estate, realtor, remax, twin city realty, update, waterloo region | Leave a comment
February Real Estate Update for Kitchener Waterloo – Condo’s Leading The Way
With the cold weather still keeping its grip on us here in Kitchener Waterloo, the Residential Real Estate market is starting to show signs of life. Even though the volume of sales are down about 4% the prices are still rising steadily. Condos are leading the way for another month in a row up 6.3%.
Have a look at the entire Media release from the Kitchener waterloo real estate board and if you have any questions please don’t hesitate to give me a call.
HOMES SALES STEADY IN FEBRUARY
KITCHENER-WATERLOO, ON (March 5, 2014) –– Residential sales through the Multiple Listing System (MLS®) of the
Kitchener-Waterloo Association of REALTORS® (KWAR) were down 4.0 percent in February compared to the
same month last year and up 34 percent compared to January’s results which were hampered by extreme
cold and snow.
A total of 431 residential properties were sold compared to 449 the same time last year. Residential sales in
February included 274 single detached homes (down 8.7% from last February), 33 semi-detached (down
13.2%), 28 townhomes (down 3.4%) and 93 condominium units (up 16.3%).
“February sales showed a healthy increase compared to January,” stated Lynn Bebenek, President of the
KWAR. “Low interest rates and a diverse and vibrant regional economy will continue to support a stable market
for the Kitchener-Waterloo area.”
Single detached homes sold for an average price of $387,288 an increase of 5.1 percent compared to last
year. The average sale price for a condominium was $233,657 an increase of 6.8 percent while townhomes and
semis sold for an average of $281,636 (down 0.7%) and $246,171 (down 3.0%) respectively. The average sale
price of all residential sales through the KWAR’s MLS® System increased 3.0 percent to $335,217 compared to
February 2013.
“Following up on what has been one of the coldest winters on record I expect we will see home buyers and
sellers out in full force come the spring time,” said Bebenek.
March 5, 2014 | Categories: Buyers, Kitchener Waterloo, Loft Style, New Construction, Sellers, Uncategorized | Tags: condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft buying, market, market update, mortgage brokers, new construction, real estate, realtor, remax, twin city realty, update, waterloo | Leave a comment
The Stats Are In! Another Great Year for Kitchener Waterloo Real Estate – Market Update
The Stats are in and it was another positive year for the Kitchener Waterloo Real Estate Market.
More homes were sold in 2013 than in the previous two years, and the 6,366 residential sales processed through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) this past year were above the 10-year average.
In a year when troubling news concerning one of the region’s largest employers dominated not only headlines, but the hearts and minds of many, the Kitchener-Waterloo housing market fared remarkably well.
“Throughout last year we saw the fate of Waterloo region called into question by those who didn’t fully grasp the depth of our region’s overall economy,” said Lynn Bebenek, President of the KWAR. “While the strength of our housing market is only one economic indicator, this past year demonstrated the confidence buyers and sellers have in Kitchener-Waterloo’s real estate market.”
Sales of homes got off to a slow start in 2013 before heating up in May and stayed strong through to the end of the third quarter. In December, following two months of slower activity, a total of 279 residential properties sold, representing an increase of 3 percent over the same month last year.
The dollar volume of sales in 2013 increased 6.5 percent over last year, totalling $2,057,707,041 and surpassing the “2 billion” dollar mark for the first time in the KWAR’s history.
Close to half of all residential properties (47%) sold above $300,000 in 2013 compared to 43% in 2012. The average price of all residential properties sold in 2013 increased 4 percent to $323,335. Single detached homes sold for an average price of $366,907 in 2013, an increase of 3.7 percent. In the condominium market the average sale price in 2013 was $216,866, an increase of 1.5 percent compared to the previous year.
Home sales in 2013 included 4,241 detached homes (up 4.2 percent from 2012), 1,151 condos (down 3.9 percent), 505 semis (up 3.7 percent), and 399 townhouses (down 0.3 percent)
January 6, 2014 | Categories: Buyers, Kitchener Waterloo, Loft Style, New Construction, Sellers, Uncategorized | Tags: CMHC, condo, condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, market update, mortgage brokers, new construction, real estate, remax, twin city realty, update, waterloo, waterloo region | Leave a comment
November 2013 Real Estate Market Update for Kitchener Waterloo
HOME SALES DOWN IN NOVEMBER, UP ON YEAR-TO-DATE BASIS
KITCHENER-WATERLOO, ON (December 4, 2013) –– Homes sales through the Multiple Listing System (MLS®) of the
Kitchener-Waterloo Association of REALTORS® (KWAR) in November were down 8.2 percent compared to
November of last year. Residential sales have totalled 6,080 on a yearly basis which represents a 2.3 percent
increase over last year, and also a year-to-date record for total units sold since 2007.
A total of 459 residential properties were sold compared to 500 the same time last year. Residential sales in
November included 295 single detached homes (down 9.2% from last November), 41 semi-detached (up
20.6%), 30 townhomes (up 7.1%) and 90 condominium units (down 15.1%).
“Looking back on 2013 as it winds down, we’ve had a strong and stable year of homes sales” says Lynn
Bebenek, newly elected President of KWAR. “The strength of our local economy and low interest rates continue
to support housing demand in Waterloo Region.”
Single detached homes sold for an average price of $370,068 an increase of 3.0 percent compared to last
year. The average sale price for a condominium was $214,932 an increase of 3.4 percent while townhomes and
semis sold for an average of $268,194 (up 2.3%) and $240,645 (up 1.7%) respectively. The average sale price of
all residential sales through the KWAR’s MLS® System increased 3.1 percent to $320,591 compared to November
2012.
“November’s housing sales demonstrate that Waterloo region continues to be a desirable place to live and
work,” says President Bebenek, “With local job creation expected to outpace losses next year, and barring any
drastic changes in lending rates, Waterloo region should continue to enjoy a healthy housing market in 2014.”
December 4, 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 selling, market, market update, mortgage brokers, real estate, realtor, remax, sales reps, twin city realty, update, waterloo, waterloo region | Leave a comment
Carbon Monoxide Detectors Become Mandatory in Ontario Homes – Kitchener Waterloo
A new Bill has passed. Nearly five years after a Woodstock family was killed by carbon monoxide poisoning, provincial politicians have passed a bill that mandates all Ontario homes have CO detectors. I think this is a fantastic idea.
For more info visit
Rosie Del Campo has the latest: http://bit.ly/1igsCR2
November 28, 2013 | Categories: Buyers, Kitchener Waterloo, Sellers, Uncategorized | Tags: carbon monoxide, condo buying, condo selling, condo units, first time buyer, government, kevin baker, kwhometeam, loft apartments, loft buying, loft selling, ontario, remax, twin city realty, waterloo | Leave a comment
City Centre Condo in Downtown Kitchener set to start construction
November 10, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Uncategorized | Tags: city centre, condo, condo buying, condo units, downtown, first time buyer, kitchener, kwhometeam, loft, loft apartments, loft selling, lofts, new construction, real estate, remax, sales reps, twin city realty, update, waterloo, waterloo region | Leave a comment
Five Ways to Prepare for Higher Mortgage Rates – Kitchener Condos and Lofts for sale
Five ways to prepare for higher mortgage rates
Mortgage rates on the rise? No need to panic; what you need is some smart strategies to prepare. Here are our top 5 tips:
1. Don’t take the money. If you’re buying a new home, don’t be tempted to borrow the maximum amount your lender will allow.
2. Do more than the minimum.If you have a variable-rate mortgage, build in some wiggle room by setting your payments higher than required.
3. Plan to pre-pay. Find out what your pre-payment privileges are and pay whatever you can.
4. Conduct a reality check.Find out what your mortgage balance will be at renewal and use our online mortgage calculator to project what your payments could be if you renewed at a higher rate. Start to ease up to your new payment level so at renewal, it’s like a merge lane!
5. Watch your bad debt. Be cautious about any credit card or other high-interest debt.
Getting prepared for higher rates is not about panicking, it’s about being prudent.Give me a call if you have any questions.
October 2, 2013 | Categories: Buyers, Kitchener Waterloo, Loft Style, Sellers | Tags: CMHC, condo buying, condo selling, condo units, condo value, downsizing, first time buyer, kevin baker, kwhometeam, loft, loft apartments, loft buying, market update, mortage rates, mortgage, mortgage brokers, mortgage news, mortgage rates, remax, twin city realty, update, waterloo | Leave a comment
Blackberry and What it Means for Kitchener Waterloo Real Estate – Re/max Twin City
I have been getting alot of questions on how the state of Blackberry is going to affect the local Real Estate Market here in Kitchener Waterloo. Have a look at the video to hear my thoughts on what the future holds..
September 24, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Video | Tags: blackberry, condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft selling, market update, mortgage | Leave a comment
Prime Rate Remains Unchanged – Kitchener Waterloo Condos and Lofts
Today in Stephen Poloz’s first policy decision since he replaced Mark Carney as the Bank Governor he has kept the prime rate or the benchmark rate unchanged. This rate has held steady at 3% since September of 2010.
Today’s announcement noted that there will be a continuation of steady rates “as long as there is significant slack in the Canadian economy, the inflation outlook remains muted, and imbalances in the household sector continue to evolve constructively.”
The prime rate for most lenders should stay at 3%, great news for variable rate holders. In regards to fixed rates, that market is in a state of flux. With bond prices dropping of the past month that has put upwards pressure on yields which in turn raise interest rates. If you have any questions on what to do or who to call to get a great rate locked in before your next home purchase please give me a call and I am happy to help.
July 17, 2013 | Categories: Buyers, Kitchener Waterloo, Sellers, Uncategorized | Tags: CMHC, condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, market update, mortgage, mortgage brokers, mortgage news, mortgage rates, real estate, realtor, remax, sales reps, twin city realty, waterloo | Leave a comment
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
Bank of Canada keeps Benchmark Interest Rate Unchanged!
Key Interest Rate Stays Put
With a lower growth forecast, the Bank of Canada is once again keeping its key policy rate unchanged, noting that our historic low rates “will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required.” With a weaker second half of 2012, the bank projects that growth in Canada will regain some momentum through 2013, with the economy “reaching full capacity in mid 2015 – later than anticipated.”
The prime rate for most lenders should stay at 3%, now unchanged since September 2010.
The Bank’s next rate decision is scheduled for May 29.
As for fixed rates, we continue to enjoy historically low rates for those looking to purchase or refinance, perfect for the spring market!
| Terms | Posted Rates | Our Rates |
| 6 MONTHS | 4.00% | 3.95% |
| 1 YEAR | 3.00% | 2.65% |
| 2 YEARS | 3.04% | 2.69% |
| 3 YEARS | 3.70% | 2.65% |
| 4 YEARS | 4.64% | 2.85% |
| 5 YEARS | 5.24% | 2.84% |
| 7 YEARS | 6.35% | 3.49% |
| 10 YEARS | 6.75% | 3.69% |
| Rates are subject to change without notice. OAC E&OE | ||
| CURRENT PRIME RATE IS | 3.00% |
| PRODUCT | RATE |
| 5 YEAR VARIABLE: | 2.60% |
April 17, 2013 | Categories: Buyers, Kitchener Waterloo, Sellers, Uncategorized | Tags: CMHC, condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft buying, loft selling, market update, mortgage, mortgage brokers, mortgage news, mortgage rates, real estate, remax | 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
Mortgage Pre-Approvals vs Mortgage Approval and why they are different – Kitchener Waterloo condos for sale
Thinking of buying a home? A great first step is to talk to the bank or a mortgage broker to find out how much you can afford. Keep in mind though that getting pre-approved is very different then getting actually approved. Have a look at this video where I explain the differences.
March 26, 2013 | Categories: Buyers, Kitchener Waterloo, New Construction, Video | Tags: CMHC, condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, mortgage, mortgage brokers, real estate, remax, twin city realty, 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
Hiring a Realtor to Sell Your Condo – Kitchener Waterloo Remax Twin City Realty
With availability of information, mobile phones and websites it is even more important to hire a Realtor based on what they can do for you to get the home sold quickly, efficiently and for the most amount of money. Have a look at this video to hear my thoughts on what you should be looking for when interviewing your Realtor.
December 12, 2012 | Categories: Kitchener Waterloo, New Construction, Sellers, Video | Tags: agent, condo buying, condo selling, condo units, downsizing, first time buyer, hiring a realtor, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft selling, market update, real estaet, real estate, realtor, remax, sales rep, sales representative, selling my condo, twin city realty, waterloo | Leave a comment
When is the Best Time To Sell My Condo? – Kitchener Waterloo Condos and lofts for sale
One of the questions I get asked a lot is….”is now a good time to sell my condo? 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, Kitchener Waterloo, Sellers, Video | Tags: condo buying, condo selling, condo units, downsizing, fall market, first time buyer, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, market update, real estate, realtor, remax, summer market, twin city realty, update, waterloo, winter market | 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
Commission Free May Not Always Be the Best Option. – Kitchener Waterloo Private Sale
If you have been thinking about Selling your condo and loft on your own here is a great video of one families experience with the process and how eventually they have to hire a Realtor to get the house Sold.
October 17, 2012 | Categories: Buyers, Kitchener Waterloo, Sellers, Video | Tags: condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, ktichener, kwhometeam, loft, loft apartments, loft buying, loft selling, market update, mortgage, new construction, real estate, realtor, twin city realty, update, waterloo | Leave a comment
Assessment Value vs Market Value – Kitchener Waterloo Condos and Lofts for sale
The new assessment numbers are coming out in the Kitchener Waterloo Region and I am getting asked is that what my condo is really worth? Have a listen to the video to hear my thoughts on the differences.
October 15, 2012 | Categories: Buyers, Kitchener Waterloo, New Construction, Sellers, Video | Tags: assessment, assessment value, condo buying, condo selling, condo units, downsizing, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market, market update, market value, real estate, remax, twin city realty, update, value, waterloo | Leave a comment
How Long Will It Take My House to Sell? – Kitchener Waterloo Condos and Lofts for sale
How long will it take my condo to sell? I get that question a lot from people thinking about putting up their unit on the market. Have a look at the video to hear my thoughts as to how long and to why.
September 20, 2012 | Categories: Buyers, Kitchener Waterloo, Loft Style, Sellers, Video | Tags: condo buying, condo selling, condo units, days on market, first time buyer, kevin baker, kitchener, kwhometeam, loft, loft apartments, loft buying, loft selling, market update, real estate, remax, twin city realty, update | Leave a comment
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