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It is certainly a seller’s market.
With the supply of homes at its lowest level of the year, over the past three weeks, homes have been selling well about list price and the prevalence of bully offers has never been greater.
November is the fifth consecutive month of record home sales in the Kitchener-Waterloo area.
There were 575 residential homes sold in November, another record-breaking month!
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Low Supply and Interest Rates Lead to High Home Prices. The average sale price at $607,250 for October, an increase of 15.2%
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How’s the Kitchener-Waterloo real estate market?
The LP/SP ratio is at about 110.5% and Days on Market is averaging about 10.5 days.
The Supply is back under one month’s supply
All this means that it is solidly a still Seller’s Market.
October’s home sales represented an increase of 28% compared to the same month last year, and a decrease of 9.6% compared to the previous month.
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August sales statistics released by the Canadian Real Estate Association show the national average sale price for a house in Canada has gone up…
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Will October surprise us and slow down, calm down? September a repeat of August? In this month’s episode of ‘How’s the market’ I show…
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Year to date sales are 2.6% higher than last year. Paused May market more than made up for already
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I’ve noticed a trend with homebuyers this year. Homebuyers are less willing to view properties that they don’t think they would be interested in buying. Browsing is over. Listings get few showings but on offer night, offers come in and come in high, often without conditions. With open houses being discouraged and with Covid-19 protocols being in place for viewings, there is only one other thing KW Realtors could do a lot better to help keep the home buying public safe — We could price homes a little closer to market price. What is the point of listing a home 20% below market price and bringing 30 homebuyers and their agents out to view it? It’s irresponsible. And off trend. And unnecessary.
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National home sales and listings continued to climb in housing markets across the country this August, as some of the pressure from pent-up demand was released this summer when pandemic restrictions eased. Buyers returning to the market did so with refocused housing priorities; a growing number began looking to suburban and rural markets in search of greater square footage relative to what’s available in denser urban centres.
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