Preliminary sales figures for February 2009 point to mixed results. The Kitchener-Waterloo Real Estate Board saw 290 residential sales which paled by comparison to the 405 sales in February 2008. This equates to approx. a 28% decline in unit sales making it the lowest total recorded in this decade.
However, in my opinion, the glass is half full. Active listings ...
Posted by Jeff Gingerich
on March 3, 2009
Preliminary figures from the Kitchener-Waterloo Real Estate Board show residential unit sales in January 2009 totalled 217. This figure represents a decline of approx. 28% from January 2008's total of 301. Active residential listings in Kitchener-Waterloo total 1240 or almost a 6 month supply. This would indicate a buyer's market.
However, to put our local real estate ...
Posted by Jeff Gingerich
on February 3, 2009
Over the last number of years, veteran market watchers(those over age 40) always wondered when the local real estate boom would end. My answer was "when the rates go up considerably or the jobs disappear." As recent job losses and layoffs have unfolded, we've once again discovered real estate markets are cyclical. The local market has shifted and a buyer's ...
Posted by Jeff Gingerich
on February 3, 2009
Preliminary sales figures indicate that 2008 sales were the 3rd highest on record for the K-W Real Estate Board. The 4966 sales trailed record-setting totals for 2007 with 5546, a decline of approx. 10%. The sales for 2008 were more in line with the 2005 and 2006 sales of 4988 and 4905 respectively.
Of note, the 4th quarter sales from Oct. 1-Dec. 31, 2008 were 766 compared ...
Posted by Jeff Gingerich
on January 6, 2009
Preliminary sales results from the Kitchener-Waterloo Real Estate Board indicate unit sales fell in December by approx. 25% year-over-year. In December 2008, there were 171 sales of single family homes versus 229 for December 2007. Approx. 60% of sales were under $250 000 and approx. 10% of sales were over $400 000.
There are currently 1044 active residential listings.
Check ...
Posted by Jeff Gingerich
on January 6, 2009
Preliminary results of unit sales in November 2008 indicate a market shift has occurred. In Kitchener-Waterloo, 240 residential properties changed hands. This represents a 40% decline over November 2007 when 400 properties were sold. There are currently 1330 properties for sale which equates to approximately a 5 1/2 month supply.
Posted by Jeff Gingerich
on January 6, 2009