It was an awesome August for Kitchener Waterloo real estate as residential resales on MLS rose 16% year-over-year. Prices were up nearly 2% on average over last August. The sold sign went up in 39 days and sellers received 97.6% of their asking price on average. In short, all indicators were more favourable than the same period last year.
So where does the market go from here? Regular readers of this Kitchener Waterloo real estate blog know one of the key indicators of market health is the number of resale properties for sale. Currently, there are just 1010 resales on the Kitchener Waterloo MLS. That equates to less than a 3 month supply which tells us sellers are still in the drivers seat.
If you have questions about where you fit in to the local market, I'll be happy to help. Feel free to call, text or email 519-505-4488 firstname.lastname@example.org.