Real Estate

Kitchener-Waterloo Real Estate Market Report – Less than one month’s supply of home available

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The total number of homes available for sale in active status at the end of February was 447, a decrease of 39.4% compared to February 2019.

This is 62% below the previous ten-year average of 1,179 listings for February.

The number of Months Supply (also known as absorption rate) in February was just 0.9 months, 40% per cent below the same period last year.

The previous ten-year average supply of homes for February was 2.55 months, and in the past 5 years the average supply for February was 1.76 months.

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How’s the Market? From FOMO to FONFAH. Kitchener-Waterloo home sellers are waiting for spring to list.

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In this edition of “how’s the market” we visit the updated spreadsheet showing what’s been listed and sold for clients so far in 2020. Now that we are at the end of February, the data shows that list price to sale price ratio is edging up a little.
We start off with some acronyms:
DOM
LP/SP
LOL
FOMO
FOSC
FONFAH — that’s what is my clients are feeling!!

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How’s the KW real estate market? February 10, 2020. Where are the high-priced homes?

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Six weeks into the year and there is either a lot of activity or not much happening depending on your budget range.

The key takeaways from this update:
1) Homes are selling for an average of 10% over list price
2) 10% of the homes selling are not waiting for offer night. They are instigating BULLY OFFERS
3) High priced homes and mid priced homes are slow to come to the market.

Other takeaways:
1) Almost everything that was listed in January is now already sold.
2) The LP/SP ratio rose by 2%. But that can be explained by seasonality.

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