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
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
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
As of September 15, 2009 there were 11 active listings under Power of Sale in K-W. This represents a significant decline over the 19 in mid-August. Of note, all 11 were in Kitchener. As expected, the active market resulted in the sale of 16 Power of Sale properties in August versus 9 in July. The low level of homes for sale will continue to mean Power ...
Posted by Jeff Gingerich
on September 18, 2009
Real estate sales have defied expert predictions as evidenced by Vancouver sales rocketing ahead 117% year-over-year http://tinyurl.com/lmpz9g However, markets are local in nature so let's look at the Kitchener-Waterloo market year-to-date and where the market is heading in the months to come.
Year-to-date MLS sales to the end of August '09 totalled 3422 ...
Posted by Jeff Gingerich
on September 16, 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 ...
Posted by Jeff Gingerich
on September 3, 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
Fortune Magazine has named Waterloo's Research in Motion(RIM) as the fastest-growing company in the world. RIM makes the popular Blackberry mobile communication devices. Companies outside of the U.S. were included in the magazine's annual list for the first time. Their criteria include profit, turnover and return on investment. Of note, Saskatchewan's ...
Posted by Jeff Gingerich
on August 18, 2009
Beginning today, I'll report mid-month on the MLS power of sale activity in Kitchener-Waterloo. We can use this information as one indicator of the health of the local market. As of August 15, 2009, there are 19 active MLS listings under power of sale in the Twin Cities. Of note, 18 are in Kitchener and 1 in Waterloo. July saw 488 residential ...
Posted by Jeff Gingerich
on August 16, 2009
Residential real estate in June 2009 provided a bit of sunshine in an otherwise gloomy economy. Kitchener-Waterloo shows approx. 569 sales through the Multiple Listing Service which surpassed June 2008's total of 564. Of note, 75% of sales were under $300 000 and new construction accounted for only 6% of the totals. The average days on the market ...
Posted by Jeff Gingerich
on July 3, 2009