419 homes sold in Kitchener-Waterloo in May 2020, a decrease of 40.5% compared to May 2019.Read More
How’s the market? More listings and more sales. The market has corrected and we are on our way up again. In this video, we…Read More
In this Kitchener-Waterloo real estate market update, I show that
average list prices are down
average sale prices are going up relative to list price
we have incidences of Bully offers occurring again
overall activity is increasing again
May is very different than April, which was different than March
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
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.Read More
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.
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.
Kitchener-Waterloo Real Estate Market Report January 2020 — Consumers can’t buy what’s not there. For the third consecutive month, the number of sales was…Read More
How’s the Kitchener Waterloo Real Estate Market, January 27, 2020? We have one trends developing…Read More
How’s the 2020 Kitchener Waterloo Real Estate Market? A problem with inventory is one for buyers!
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.
The trend in Canadian housing starts was up, with 219,047 units in November 2019, compared to 218,253 units in Oct. 2019, according to the…Read More