As of October 15th, there were 12 active residential MLS listings under Power of Sale in Kitchener-Waterloo. This marks a slight increase over the 11 in September. Of note, 2 were in Waterloo and the remaining 10 in Kitchener.
As for sales, September saw 17 residential properties sold under Power of Sale in K-W through the Multiple Listing Service. This also represents a slight increase over the 16 sold in August. As expected, high demand in the current seller's market has meant that these properties are selling in a relatively short period of time. Of note, 2 sold for full asking price and 3 attracted multiple offers.
In the short-term, expect demand for these properties to continue to be strong. It seems certain low interest rates will continue into 2010. An indicator to watch is the number of new Power of Sales listings coming on the market.
As always, feel free to contact me with comments, suggestions for future posts and your real estate questions Jeff.Gingerich@Century21.ca or 519-505-4488
Century 21 Home Realty Inc. Brokerage