The surge in power of sale activity witnessed in Kitchener Waterloo in June carried over to July. The Kitchener-Waterloo MLS reported 13 residential sales in July matching the 13 recorded in June. The sales totals for these months represents the highest number of power of sales for any month in 2010. Totals for January to May ranged from 8-12 so perhaps ...
Posted by Jeff Gingerich
on August 21, 2010
Today's post deals with the challenges of buying a home in a seller's market. First, let's look at a bit of recent history. In November of 2008, fear and uncertainty were in the air. Overextended sellers were anxious to unload their properties at a discount. Buyers, following years of a seller's market, were finally in control. Unfortunately for buyers, ...
Posted by Jeff Gingerich
on November 28, 2009
With the real estate market having improved considerably since May, I thought it time to revisit the topic of million dollar home sales reported through MLS in Kitchener-Waterloo. Year-to-date, there have been 2 sales including the one pictured above. It has over 8000 sq ft of living space and sits on 1.5 acres in scenic Hidden Valley. There are currently 18 active listings ...
Posted by Jeff Gingerich
on August 31, 2009
As Realtors, we are certainly thankful for the resurgent real estate market Canada-wide. Low interest rates have been instrumental in increasing affordability to entice first-time buyers into the market. Real estate is local so let's look at a typical scenario in Kitchener-Waterloo. A couple buy a detached home for $250 000 with 5% down and get a 4% mortgage with a 5 year ...
Posted by Jeff Gingerich
on June 25, 2009
The Kitchener-Waterloo Real Estate Board reports 527 residential sales in K-W for May 2009 representing a 9% increase over May 2008 sales. The average price declined year-over-year by 1.4% to $261,628. Right about now you're probably thinking "What about the Recession?" This increase in sales is being driven by low interest rates resulting in increased affordability. ...
Posted by Jeff Gingerich
on June 9, 2009
In a sign of the times, million dollar residential sales in Kitchener-Waterloo are becoming increasingly rare. Currently there are 21 homes for sale in K-W with an asking price exceeding 1 million dollars. It certainly looks like a strong buyer's market as this price bracket has produced only 1 sale through the MLS this year. In 2008, the Kitchener-Waterloo Real Estate Board ...
Posted by Jeff Gingerich
on May 26, 2009
Residential sales in Kitchener-Waterloo for the first 2 weeks of May show a 15% increase over the same period in May 2008. Of note, out of 257 sales recorded by the Kitchener-Waterloo Real Estate Board, 199 were under $300 000. The supply of homes in this price range is shrinking rapidly due to high activity from first-time buyers. Average days on ...
Posted by Jeff Gingerich
on May 21, 2009
There's an old fable about a chicken who thinks the sky is falling because he got hit in the head with a falling acorn. The moral of this fable is to have courage and not to be a "chicken". This "disaster is imminent" message is a common theme in the media today. It appears the residents of Waterloo Region know better.
In what can best be described as a stable market, ...
Posted by Jeff Gingerich
on April 3, 2009
Waterloo's top employer Research in Motion(RIM) defied analyst's expectations today in announcing fiscal 4th quarter profits easily eclipsed last year's results. RIM now has 25 million subscribers and is growing market share in the midst of a sluggish global economy. These results are a huge positive for the local economy and for Wateroo Region real estate. For the full ...
Posted by Jeff Gingerich
on April 2, 2009
An analysis of early March MLS sales activity in Kitchener-Waterloo point to a relatively healthy market. Unit sales for the first 2 weeks of March totalled 151 versus 225 for the same period in 2008 representing a 33% decrease.
However, the average sale price year-over-year declined by less than 1% and the list-price to sale-price ratio was a robust 97.6%. The average days on ...
Posted by Jeff Gingerich
on March 19, 2009