Top Stories from last week

Top stories from last week

What’s happening with 2-bedroom freehold townhouses in Kitchener?

Bonus: a quick look at the last 30 days of homes priced above $800k 

Condo, Townhouse or Single Family Home, which is best for you?

There are pros and cons to all types of housing. How can you know which one is the best for you? 

Here are some things to consider…

Condo

If you are looking for the most hands-off approach to home ownership, a condo apartment or townhouse might be your best option. Common areas are owned collectively and are maintained by building management for which you pay monthly condo fees. Condos apartments are more affordable than freehold townhouses and single-family homes. 

Freehold Townhouse

A freehold townhouse is a great idea for people looking for a multilevel property with a front and back yard but not the space, commitment and investment of a single family home

Single Family Home

Detached, freehold homes provide the most freedom and privacy to a homeowner. Homes can range from a very small bungalows to massive mansions. Single family homes are great for pets, children and entertaining.

What’s happening with 2 bedroom condo townhouses in Kitchener-Waterloo

(Transcript)

Well hello there. I’m Keith Marshall.

What’s happening with… 

It is time again for a look at what’s happening with… in this case what’s happening with 2 bedroom condo townhouses in Kitchener-Waterloo. 

Kitchener-Waterloo Association of Realtors

What we always like to do is we start with this one. This is the general information on what’s happening in Kitchener-Waterloo Association of Realtors with 2 bedroom condos. 

Average Prices

We like to start with the the big picture and that’s provided through infosparks. We’re going to look at the Kitchener-Waterloo Real Estate Association as a whole for condo townhouses with 2 bedrooms. And we are going to start with average price. So let’s go to last year January 2020 and the average price was $425k and as we went through the year it took a big dip here in April and then after April it just continue to go up and up and up until October where the average price for a two-bedroom condo townhouse was $445k and then it dipped a little bit over November and then in December we ended up the year at $457,832. So the average price at the end of the year for two bedroom condo townhouses in Kitchener-Waterloo Market as a whole was that. Let’s take a look at new listings over the year. In March we are we were climbing of course in April we fell and then we hit a peak of new listings in September with a hundred and twenty one and then the number of new listings dropped and dropped and dropped ending out to December 2020 with only 34 new listings in that month. 

Of course the number of homes for sale also fell starting in June and at the end of the December we had 29 homes for sale. Not a lot.

The number of sales will be reflected in that as well as September was our peak months and then December we only had 43 

Kitchener-Waterloo Real Estate  7-Day Market Update

New listings: 95

Homes sold: 92

Conditional Sales: 19

Average days on market: 20

Median days on market: 7

Average list price: $595,199

Average close price: $691,106

Average SP/LP: 116.8%

Median list price: $550,000

Median close price: $671,550

Median SP/LP: 117.39%

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