What’s really going on with Kitchener-Waterloo real estate? And other news from last week.
byWhat is really going on with the Kitchener-Waterloo real estate market? What’s happening in Waterloo Rural Real Estate? So many questions.
What is really going on with the Kitchener-Waterloo real estate market? What’s happening in Waterloo Rural Real Estate? So many questions.
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%.
Wednesday April 29, 2020, In this weeks Kitchener-Waterloo Real Estate News: days, Covid-19, condo fees, fear, perception, 2020 real estate, virtually selling, home selling issues, number of showings down, home prices, U-shaped recovery
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.
Canada’s housing market improved for the 9th month in a row in November, with strong gains in both sales and price growth – a trend that’s expected to continue into 2020.