Top stories from last week

What’s happening with…

In this episode of “What’s happening with…”  we look at 4 bedroom, 2 garage homes in Colonial Acres/East Bridge. The ongoing inventory shortage is leading to higher and higher prices.

Canadian Homes Valued at Over $1M Expected to Grow by 7.5% in 2021

A number of major Canadian real estate markets saw unprecedented demand for homes priced over $1 million in 2020. On a national level, expect homes in Canada priced over $1 million to grow in value by 7.5% in 2021. This growth will be driven by low-interest rates, along with a growing number of expatriates returning to Canada amidst global uncertainty.

What’s happening in Waterloo Region Rural Real Estate Year-to-date statistics of listings and sales

There have been 64 homes sold year-to-date in the rural towns and townships through the Kitchener-Waterloo Real Estate Board

The average list price for homes sold in Rural Waterloo Region year-to-date was $802,586

The average sold price for homes sold in Rural Waterloo Region year-to-date was 878,255 (12.67% over list price) with an average square footage of 2104.

The average days on market for these sales was 45

The median list price for homes sold in Rural Waterloo Region year-to-date was $699,900

The median sold price for homes sold in Rural Waterloo Region year-to-date was $777,500 (14.84% over list price) with an average square footage of 1705.

The median days on market for these sales was 6

3 Pandemic-Fueled Housing Trends to Watch

1 Buyer competition.

2 First-time buyers increase.

3 Suburbs and vacation homes grow in appeal.

Kitchener-Waterloo Real Estate 7-Day Market Update

New listings: 124

Homes sold: 106

Conditional Sales: 21

Average days on market: 23

Median days on market: 8

Average list price: $586,945

Average close price: $678,827

Average SP/LP: 115.84%

Median list price: $572,450

Median close price: $686,000

Median SP/LP: 119.29%

Bonus: Blast from the Past — Looking for a small advantage

In this video, I take a deep dive into my spreadsheet and discover what might be a small advantage when competing for that perfect home!

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