statistics

How’s the KW housing Market? | Coronavirus impacts showings, average sale price, number of listings and a whole lot of other indicators…

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In this update of the Kitchener-Waterloo real estate market, we look at Coronavirus and it’s impact on:
1. Number of showings,
2. Average sale price
3. Number of new listings
4. Number of houses for sale
5. Number of homes sold
6. Days on Market
7. Supply of homes
8. List price to sale price ratio

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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 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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How’s the 2020 Kitchener-Waterloo real estate market. January 14 2020

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How’s the 2020 Kitchener Waterloo Real Estate Market? A problem with inventory is one for buyers!

Key takeaways:
1) Single family homes priced below $600,000 are selling fast. Often in less than five days.
2) Bully offers are the rule not the exception as buyers don’t want to wait till offer night.
3) The list price to sale price ratio of homes that have sold so far this year (on my list) are selling for 8% over list price.

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