Strong residential demand and low MLS resale inventory combined to create brisk activity on Kitchener Waterloo power of sale properties in January. Ten properties sold under power of sale for an average of 99% of the asking price with many attracting multiple offers. This equalled the 10 power of sales properties sold in December. The average days on the market ...
Posted by Jeff Gingerich
on February 15, 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
Residential power of sale activity on the Kitchener Waterloo MLS in November was relatively quiet. Active listings under power of sale on December 15th declined to 14 from mid-November's 15. Of note, 13 are in Kitchener with 1 power of sale in Waterloo. Six of the Kitchener power of sales are condominiums and the bulk of the properties are under $300,000. I'll ...
Posted by Jeff Gingerich
on December 18, 2010
While November has a reputation for dismal weather, real estate sales in the Twin Cities this past month were bright and sunny. Residential MLS sales for Kitchener-Waterloo totalled 365 in November versus 413 for November 2009. For those keeping track, this represents a 12 per cent decline. However, it's interesting to note that in November, ...
Posted by Jeff Gingerich
on December 2, 2010
Million dollar residential sales continue to set new records in Kitchener Waterloo in 2010. Luxury home sales over 1 million dollars on the Kitchener-Waterloo Multiple Listing Service total 11 year-to-date. The average sale price of these homes is a lofty $1,502,545. The average days on the market for these sales has soared to 130 days or over 4 months versus 39 days ...
Posted by Jeff Gingerich
on November 22, 2010
In sharp contrast to era of "foreclosure-gate" in the United States, residential power of sale activity in Kitchener Waterloo continues to represent a small percentage of the market. Active listings under power of sale on the Kitchener-Waterloo MLS totalled 15 as of mid-November which equalled October's total. Of note, 93% are in Kitchener and 7% in ...
Posted by Jeff Gingerich
on November 16, 2010
Regular readers of this blog will know by now that this monthly update is designed to answer the frequently asked question "How's the market?". The residential real estate market in Kitchener Waterloo continues to be a sellers market. Active residential listings on the K-W MLS at the end of October stood at 1251. Of this total, 403 were new homes and 848 were resale properties. ...
Posted by Jeff Gingerich
on November 2, 2010
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
The 4 month trend showing year-over-year monthly declines was broken in September as the 371 residential MLS sales in K-W were virtually identical to September 2009 results of 369. The average days on market for September sales was 43 versus 41 in September '09. The list-to-sale price ratio was 98% off slightly from the 98.2% a year earlier. The median ...
Posted by Jeff Gingerich
on October 5, 2010