Canadian Real Estate Better Balanced Than A Few Months Ago (and other real estate news and views)

better balanced than a few months ago.

The market is better balanced than the first three months of 2021, but we still have a long way to go. 

Canadian Real Estate Better Balanced Than A Few Months Ago

The market is still extremely tight, but a little pressure is starting to release.

The sales to new listings ratio (SNLR) fell to 72.63% in March, falling closer to balanced. Inventory is still tight compared to home sales, but it’s almost half the record high of 118.53% hit in December. It may not seem that way due to the headlines on home sales, but this is a much more relaxed market.

Home sales are rising primarily due to pent-up and pulled-forward demand.

The pent-up demand is due to restrictions on home sales pushed some buyers into later months. The pulled-forward demand breaks down into two segments.

The first is people motivated to take advantage of record low mortgage rates, and accelerating their buy. The second is people that are being driven by FOMO, and feel they need to buy ASAP, before they’re priced out of the market forever. Both of these trends happening at the same time is a once-in-a-lifetime situation.

7 Times To Offer Over Asking Price On A House Or Else You May Lose Out

1 It’s a seller’s market

2. You know, that there are other offers

3 The house is underpriced

4 You’re competing with cash buyers

5 The seller isn’t motivated

6 It is the perfect home for you and your family.

7 You can afford to pay over asking price

Kitchener-Waterloo Real Estate 7-Day Market Update. Just How Balanced Are We?

New listings: 211

Homes sold: 200

Conditional Sales: 22

Average days on market: 11

Median days on market: 7

Average list price: $659,805

Average close price: $746,708

Average SP/LP: 113.75%

Median list price: $624,950

Median close price: $714,000

Median SP/LP: 113.68%

This time last year…

How’s the KW housing Market? | Coronavirus impacts showings, average sale price, number of listings

In this update of the Kitchener-Waterloo real estate market from May 2020, 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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