The Olympic cauldron and our Canadian athletes weren't the only things on fire in February. Preliminary MLS data from the Kitchener-Waterloo Real Estate Board indicates a strong seller's market in K-W with 382 residential sales. Sellers received a sizzling 98.9 per cent of the asking price on average! Resale homes totalled 341 ...
Posted by Jeff Gingerich
on March 2, 2010
The beginning of 2010 has brought about increased residential power of sale activity in Kitchener-Waterloo. As of February 15th, there were 11 properties listed on MLS on the Kitchener-Waterloo Real Estate Board under power of sale. This marks a significant increase over the 5 power of sale properties active on January 15th. The median asking price was $249,900 and ...
Posted by Jeff Gingerich
on February 20, 2010
While Florida saw snow in January, Kitchener-Waterloo received much less than normal. This relatively mild weather and continuing low interest rates led to an active residential real estate market in K-W in January. Preliminary sales through the K-W Real Estate Board indicate 290 residential sales. This represents a 34% increase over the 217 sales of January ...
Posted by Jeff Gingerich
on February 3, 2010
The headlines are hard to avoid these days as the mainstream media rush to report December real estate sales in Canada at an all-time high. The Canadian Real Estate Association reports that the number of sales nationwide was up 7.7% in 2009 over 2008 and prices were up 5%, on average, versus a drop of 1% in 2008. As I've stressed before, markets are local and ...
Posted by Jeff Gingerich
on January 18, 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
November unit sales in Kitchener-Waterloo were up a sizzling 76% over November, 2008 according to figures released by the Kitchener-Waterloo Real Estate Board. A November record 422 properties changed hands versus 240 in November, 2008. Another November record was set as the median sale price in K-W hit $248,750 versus $234,500 in 2008, an increase of 6%. The return of consumer ...
Posted by Jeff Gingerich
on December 7, 2009
The Kitchener-Waterloo Real Estate Board reports 375 sales in K-W for September 2009 which represents a 15% decline over the 441 sales reported in September 2008. Of note, the end of $0 down and 40 year amortization program was rapidly approaching in September 2008 and sales were artificially high as a result. The median price for September 2009 sales in K-W was a September record ...
Posted by Jeff Gingerich
on October 4, 2009
The Kitchener-Waterloo Real Estate Board has released August 2009 sales data. In K-W, there were 482 sales matching a record set in 2007. The average price declined from August 2008 by slightly more than $10 000 and the median price dipped to $237,200 versus $242,000 in August 2008. Condominium sales were up 67% over August 2008 as record interest rates improved affordability. ...
Posted by Jeff Gingerich
on September 3, 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