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.
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.
In this episode of ‘How’s the market?’ we look back at the last ten weeks of hyperactivity, an increasing List Price to Sales Price ratio and spend a bit of time looking at average winning Bully Offers.
686 residential homes were sold in August, the most ever recorded for the month. August’s home sales represent an increase of 48% compared to the same month last year. The previous ten-year average number of residential sales for August is 470.
It has been an exciting and interesting year in the Kitchener-Waterloo real estate market. If I had to sum up what has happened in the past ten weeks, I would say that the spring market arrived late and is still here.