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 in January for these properties was just 31. Apparently there are a number of buyers looking for "handyman specials" as keep in mind these properties generally require work.
Active power of sale listings continued to trend lower with just 8 active listings in mid-January versus 10 and 14 in mid-December and mid-November respectively. As previously indicated, there aren't many bargain properties currently for sale in Kitchener Waterloo. If you're looking for a "fixer upper" and would like a list of active power of sales, just call or send me a quick email and I'll be happy to provide it.
Century 21 Home Realty Inc. Brokerage
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