KITCHENER-WATERLOO, ON (September 6, 2012) –– There were a total of 495 home sales through the
Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August,
a decrease of 4.4 percent compared to the 518 homes sold in the same month last year.
On a year-to-date basis, residential home sales remain on par with last year – with a total of 4,492
sales recorded.
August’s residential sales included 322 detached homes (down 7.7 percent), 35 semi-detached (up
6.1 percent), 37 townhouses (up 32.1 percent), and 97 condominium units (down 4 percent).
The average sale price of all residential properties sold in Kitchener-Waterloo and area rose 7.3
percent in August to $314,623, up from $293,303 one year ago. Condominium units increased 9
percent to $231,654, up from $212,513 a year ago. Single detached homes sold for an average price
of $354,064, a 7.6 percent increase compared to a year ago.
“While sales were down in August, we saw fairly strong price gains last month, says Sara Hill, president
of the KWAR. “This was helped along by the fact that 3 residential properties sold for over 1 million
dollars in August, compared to no sales in that price range last August.”
Also putting pressure on August’s average residential sale price was the increase in the number of
homes that sold for more than $400,000. 96 homes were reported sold that came in over $400,000,
representing an increase of 37 percent compared to the 70 homes that sold above that mark in
August 2011.
Information taken from Kitchener Waterloo Real Estate Board.
Coming into a fall market it is more important than ever to price your home properly get maximum dollar and so that it doesn’t become stale in the buying public eyes. Have a listen to hear my thougths as to some things to look for when setting a price for you next home sale
Last week the government mortgage rule changes came into effect. There were 2 major changes that are going to effect people and the amount that they will be able to borrow. Have a listen to the video to hear my thoughts.
KITCHENER-WATERLOO, ON (June 5, 2012) –– Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were steady last month, keeping in line with the previous 5 year average for May.
Members of the KWAR sold 650 residential properties in May, a decrease of 3.4 percent compared to May of last year. On a year-to-date basis this brings the total number of sales recorded through the MLS® System of the KWAR to 2,844 a 2.7 percent increase compared to 2011.
May’s sales included 440 detached homes (down 1.1%), 117 condominium units (down 10.7%), 50 semi-detached (up 16.7%) and 38 townhouses (up 26.7%).
The average sale price of all residential sales increased 0.5 percent to $312,219 compared with May 2011. Single detached homes sold for an average price of $353,368, which is on par with May of last year. The average price of condominium units sold in May was $206,063 a 2.9 percent decline compared to last year.
The dollar volume of all home sales in May was $202,942,505, down 2.9 percent from year-ago levels.
“Sales in May demonstrate continued strength in the Kitchener-Waterloo housing market”, says Sara Hill, President of KWAR. “What we saw last month is a steady stream of homes sales, combined with an excellent selection of listings on the market, which helped to moderate price gains.”
The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®.
If you are thinking of buying a condo there are 3 types to choose from. Here I talk about the differences between new construction condo’s vs condo conversions and the resale condo market.
I shot this video over a year ago and i think its does a good job of explaining the differences between listing “exclusively” or “Privately” vs the MLS system. Have a look to hear my thoughts on my experience with both.
Are you thinking of downsizing to a condo but stuck on what to do with all that extra stuff? Well you’re not alone. The downsizing population has enjoyed living in their large spacious homes that offer plenty of storage options. Over the years we can certainly collect a lot of things that don’t serve any purpose today. The biggest step for most of us is to be able to emotionally detach ourselves from our collection!
When moving to a condo you know that you will be able to live a lifestyle of freedom from all that hard outdoor work. So with that in mind you can easily step into your garage to target those snow shovels, snow blower, lawnmower, and collection of tools and trinkets that are adorning the shelves. Imagine the relief of purging all that extra stuff by donating or selling all the unneeded items.
Next is your basement, I am sure it has seen its collection of boxes and totes filled with different items that more than likely only serve as a reminder that you need to dust again.
Do we really need that second set of living room furniture? The extra end tables or set of 6 chairs from the old kitchen set? Let it go… it will be happy that it’s in a new home where it will be loved and used. The great feeling of donating to the less fortunate is another gratifying feeling of downsizing.
Have a garage sale, stop by the donation centres or pass it down to your children.
The magazine Style at Home offers 10 great tips for downsizing. Here are the Top 5
1. Write a list of all the items you love and can’t live without
2. Start thinning out your belongings at least three months before the move.
3. Get a feel for the size of your new rooms by comparing them to rooms of similar dimensions in your present home.
4. Heavily edit areas with items that don’t have as much sentimental value.
5. Don’t throw anything in the garbage. Recycle, reuse,
So whether you are just thinking of downsizing or have already purchased that condo and getting ready for the upcoming move, hopefully these tips will save you time and stress!
Closing Day is fast approaching and one of the most important things is to make sure you have planned for all the closing costs that come up when you are buying or selling a Condo. Have a look at the video I did to learn why this is a very important step in the process.
When buying that new Condo and you are meeting with the lawyer to get all the final paperwork signed please be sure you understand what you are signing and if you don’t, take the time to get your lawyer to explain it too you. Click on the video link to hear more.
So Closing day is only days away, the packing is still going on, you have boxes filling every room in the house. Your agent calls and asks if you would like to do a final walk through of the home. Even though you are crazy busy it is still a necessary and important part of the process. Have a look at the video to why…
Hey Everyone, I attended a CMCH housing forecast last week and then on Tuesday of this week I listened to Craig Alexander, Sr. V.P. and Chief Economist for TD Bank give his predictions on where the housing market is going for 2012. Have a listen and hear my brief synopsis on the info I gathered.
So you have found the right condo…. now its offer time, but what price to offer. Here is where a Realtor can help. Knowing what fair market value of a home is extremely important in determining what to offer on the condo of your dreams. You don’t want to overpay for something based on emotion. Watch the video to hear my thoughts on why this is an important consideration in your next home purchase
The buying process can be a confusion one at the best of times and its easy to forget things with all the stress of looking, doing offers etc. Make sure you make a list of wants, needs and the important things you are looking for in a new home. Have a look at the video to hear my thougths on some of the important ones.
Before you start your home buying search a great first step is to get a mortgage preapproval from your bank or mortgage broker. There are a few key reasons as to why. Have a look at this video to hear some helpful advice.
Part 2 in my series on what buyers should be aware of when looking for a new place. Make sure you put together a great group of professionals to help you with the process. Have a look at the video to hear my thoughts….
Waterloo Region house sales gained momentum in October
WATERLOO REGION — House sales in Waterloo Region picked up steam in October, with the real estate boards in Kitchener and Waterloo, and Cambridge both reporting marked increases in the number sales compared to a year earlier.
Prices, meanwhile, remained stable, with slight year-over-year.
In Kitchener and Waterloo, the 470 residential sales in October represented a 4.9 per cent increase over the 448 sales in the same month last year.
The average price for all residential properties that sold in the Kitchener and Waterloo area was $304,379, up 0.7 per cent from a year earlier. Single-detached homes sold for an average of $332,358, up 0.9 per cent from the same month last year.
In Cambridge, 217 residential units were sold in October, up 8.5 per cent from the 200 homes that sold in the same month last year. The average price of all residential properties was $284,515, a 2.2 per cent increase compared to last October.
On a year-over-year basis, 5,574 residential units have sold in the Kitchener and Waterloo area in the first 10 months of the year, down two per cent. In Cambridge, 2,488 homes have changed hands so far this year, up 6.6 per cent from last year.
In the region as a whole, 8,062 residential units were sold in the first 10 months of the year. That represents an increase of about 1.9 per cent compared to the same period in 2010.
The strong sales in October point to a stable housing market in the area, said George Patton, president of the Kitchener-Waterloo Association of Realtors.
“Although all marketplaces are subject to month to month fluctuations, it is obvious that we have a strong, stable market in our region,” he said in a news release. “People have confidence in investing in the housing market in this area.”
Val Brooks, president of the Real Estate Board of Cambridge, said the sustained strength of the market “reflects the consumer confidence in the region.”
Recently I went to a seminar on the new bylaw that is coming for the city of Waterloo covering the licensing of Landlords renting out their units/buildings. The Bylaw comes into effect on April 1, 2012 and is something to pay attention to if you currently rent out a unit or building in Waterloo or are thinking of buying a property. Have a look at the video to hear my thoughts.
Yesterday I spoke with a friend of mine at 375 King street N, Waterloo and he was telling me about the board of his building trying to change the policies and making it student free. They still have to get 80% of the unit owners to agree but have a look at the video and hear some thoughts on why its important to read the condo documents before you buy.
KITCHENER-WATERLOO (OCT 5th, 2011) – Residential sales to the end of the 3rd quarter of 2011 are behind last year by 2.9%. A total of 4,975 homes have sold to date this year through the Multiple Listing Service (MLS*) of the Kitchener – Waterloo Association of Realtors, compared with 5,126 during the same period last year.
Overall residential sales brought the dollar volume of $1,493,498,796, an increase of 0.8 % compared to a year ago. While sales have been slightly behind last year’s results for most dwelling types, the condo market has been the notable exception.
There have been 953 condo sales year-to-date, a 2.8 % increase compared to a year ago. Stronger demand for condo’s has helped push up the average price up to 5% on a year to date basis. The average price of a detached home has increased 3.7% to $341,222. Home sales were down last month by 4.7% over last year at this time.
Interest rates continue to be low and its a great time for buyers who are entering the market for the first time, or those wishing to transition into a different kind of home, whether its trading up or downsizing.
If you are in the process of buying your first home or moving up to a larger one… make sure you read the mortgage documents before signing. See the video to hear my thoughts…..
The month of April showed a slow down in activity vs. the previous year. Keep in mind the weather has been terrible and we are still competing with the brisk PRE-H.S.T. market of 2010. See below for the report from the Kitchener-Waterloo Real estate board. If you have any questions please feel free to contact me at 519-579-4110 or email direct to kevinbaker@kwhometeam.ca
KITCHENER-WATERLOO, ON (May 4, 2011) –Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were slower than usual for April.
There were a total of 614 residential properties sold last month, a 14.4 percent decrease compared to April of last year, and 47 sales shy of the previous five year’s average.
“Given the record breaking wet weather that dominated this past April, it is probable that this had the effect of slowing the start of the spring selling season,” says George Patton, President of KWAR. “Add to this the distraction of the royal wedding and people’s attention being given to the federal election and you have ample reasons for buyers lowering their home searching priority.”
April’s sales included 416 detached homes, 120 condominium units, 45 semis and 30 townhouses.
“Once again we are noting a shift in where the activity is taking place on the price scale,” says Patton. “Last April 35% of the homes sold for more than $300,000, this past April the number of homes selling above that price point made up 43% of the total homes sold.
The average sales price of all residential sales increased 5.6 percent to $310,704 compared with April 2010. While single detached homes sold for an average price of $350,442, an increase of 4.9 percent compared to last year. In the condominium market the average sale price in April increased 11.3 percent to $214,113 compared to the same month a year ago.
SOLID HOME SALES ACTIVITY IN FEBRUARY KITCHENER-WATERLOO, ON (March 3, 2011) –Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) continued their steady pace in February.
There were a total of 491 residential properties sold last month, a 32.7 percent increased compared to January’s results, and a 6.7 percent decrease compared to February of last year.
“These are above average numbers for February”, says KWAR President George Patton. “Keeping in mind that this time last year we had an unusually active February, setting a record for home sales in that month.”
Residential home sales last month included 308 detached homes (down 11.3 percent from 2010), 104 condominium units (up 19.5 percent from 2010), 46 semis (down 4.2 percent from 2010), and 31 freehold townhouses (down 26.2 percent from 2010).
While the most popular price range selling in February of last year was in the $300,000 to $350,000 category with 76 sales, there were almost the same number of homes (72 units) selling in the $250,000 to $275,000 price range last month.
“Vigorous activity for condos and homes in the mid price ranges was reflected in the slight decrease in the average overall residential sale price,” says Patton.
The average sales price of all residential sales decreased 0.8 percent to $288,404 compared with February 2010. While single detached homes sold for an average price of $331,027, an increase of 1.1 percent compared to last year. In the condominium market the average sale price in February decreased 2.4 percent to $196,213 compared to the same month a year ago.
KW Condos and Lofts.com 