With a long winter behind us, Kitchener Waterloo home buyers were out in full force in March. Preliminary numbers from the Kitchener Waterloo MLS show residential sales of 457 properties in Kitchener Waterloo. Of those, 36 were brand new and 421 were resales. For comparison, in the pre-HST buying spree of March 2010, there were 546 March sales with 69 new and 479 resales. For ...
Posted by Jeff Gingerich
on April 4, 2011
The new year is always an exciting time in real estate and as I survey the year to come, 2011 will be no exception. First, let's look back and see how we did with last years forecast. My Kitchener-Waterloo Real Estate Sales Forecast 2010 called for a return to a more traditional market where 2/3 of the buying and selling was done between January and June. The ...
Posted by Jeff Gingerich
on January 10, 2011
Residential real estate sales in Kitchener Waterloo remained robust in 2010 with 4794 MLS sales. This represented a slight decrease over 2009 sales of 4913. Sales activity was particularly strong in the early months of 2010. Buyers and sellers scrambled to beat the introduction of the Harmonized Sales Tax on July 1st. Spring market activity was further heightened by ...
Posted by Jeff Gingerich
on January 5, 2011
September saw improved residential sales results in Kitchener Waterloo and this was reflected in the MLS power of sale activity. There were 11 residential sales under power of sale on the K-W MLS versus 8 in August. Of note, 3 were in Waterloo and 8 in Kitchener. The property shown above attracted multiple offers and sold under power of sale at a signifiicant premium to the ...
Posted by Jeff Gingerich
on October 23, 2010
As reported previously, August saw diminished residential unit sales and power of sale activity in Kitchener Waterloo was no exception. Eight properties sold under power of sale on MLS in August, 2010 versus 13 in each of the previous 2 months. The property shown above is located in the desirable Uptown Waterloo area. In spite of being described ...
Posted by Jeff Gingerich
on September 22, 2010
The Kitchener Waterloo real estate market continued to moderate in August. Residential MLS sales for August 2010 totalled 371 versus 472 in August of 2009, a decline of 21%. One bright spot was the median price for August sales rose to $254,000 from $238,500 last August. You'll recall from previous posts that the Government of Canada through the Bank of Canada and the ...
Posted by Jeff Gingerich
on September 4, 2010
Power of sale activity on the Kitchener-Waterloo Real Estate Board rocketed higher in June 2010. Active MLS residential listings in mid-July totalled 18. This represents a sharp increase over the 13 and 10 active listings in mid-June and May respectively. Of note, 17 are located in Kitchener and 1 in Waterloo and the great majority of listings are concentrated under ...
Posted by Jeff Gingerich
on July 16, 2010
Real estate sales in Kitchener-Waterloo continued a strong surge as April's 539 residential MLS sales represented an 11%increase over the 487 sales in April 2009. The average sale price of $285,643 spiked nearly 10% over last April's average of $259,802. The market still favours sellers as they received, on average, 98.7% of their asking price. The average days on market was ...
Posted by Jeff Gingerich
on May 14, 2010
Forecasting the weather or anything else is always tricky and residential real estate sales in Kitchener-Waterloo are no exception. My predictions for 2009 were for a buyer's market by spring, MLS sales of 3725 properties and declining prices of 10-15%. As detailed in my previous post, thankfully none of this came to pass due to government stimulus and low interest rates. An ...
Posted by Jeff Gingerich
on January 4, 2010
There has been a great deal of talk in the mainstream media recently surrounding the possibility that Canada is in a housing bubble. First, what is a housing bubble? According to Answers.com, a housing bubble is "a run-up in prices fuelled by demand, speculation, and a belief that recent history is an infallible forecast of the future." It begins with an increase in demand ...
Posted by Jeff Gingerich
on January 2, 2010