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How did we get here?
In this month’s episode of ‘How’s the market’ we look back at 2020, especially the last four months of 2020 to show how we got here. Essentially early January + Lockdown = Lack of supply of homes available for sale. I’ve never seen such a lack a inventory, ever!
There were 6,492 residential homes sold in 2020, an increase of 9% compared to 2019. The average sale price increased by 16.1%.
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Predictions, forecasts and best guesses for 2021, Canadian real estate forecast, Ontario real estate predictions, Kitchener-Waterloo best guesses, design trends, mortgage rates, luxury real estate, lockdown
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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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Year to date sales are 2.6% higher than last year. Paused May market more than made up for already
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