What is really going on with the Kitchener-Waterloo real estate market? What’s happening in Waterloo Rural Real Estate? So many questions. Answers below:
11 weeks of 7-day updates
What is really going on with the Kitchener-Waterloo real estate market
In this short video — “11 weeks of 7-day updates. What is really going on with the Kitchener-Waterloo real estate market” I start a new spreadsheet and try to make scene of what happened in the first three months of 2021. Clearly things have changed and are changing. And the experts think they know where things are going. I hope they are right.
What’s happening in Waterloo Region Rural Real Estate
Statistics of listings and sales
There were 104 homes sold last month in the rural towns and townships through the Kitchener-Waterloo Real Estate Board. The average list price for homes sold in Rural Waterloo Region last month was $726,523. The average sold price for homes sold in Rural Waterloo Region last month was $828,344 (15.67% over list price last month was $828,344 (15.67% over list price). The average days on market for these sales was 8.
Canadians Expect Home Prices to Rise
Six out of 10 Canadians believe the value of their neighbourhood’s real estate will rise over the next six months — Nanos Research Group for Bloomberg News. This is the first time such readings have surpassed 60% since 2008, when polling began. Statistics Canada reported that home sales had risen at their fastest pace in more than three decades in February. New house prices were on the rise in 22 of the 27 census metropolitan areas (CMAs) surveyed, resulting in the national index being pushed up 1.9%. The Canadian Real Estate Association (CREA) recently reported that according to the MLS Home Price Index national home prices increased more than 17% year-over-year.
What is a Comparative Market Analysis?
A comparative market analysis (CMA) is a technique used by real estate agents to estimate the value of a property. We do this by comparing the target property to similar properties that have recently sold in the same neighbourhood.
Factors that influence the price of a home include: location, square footage the number of bedrooms… as well as a number of other things.
Kitchener-Waterloo Real Estate 7-Day Market Update
Average days on market: 11
Median days on market: 7
Median list price: $600,000
Median close price: $705,000
Median SP/LP: 116.89%
This time last year: April 8 2020
How’s the KW real estate market? Covid-19 impacts Bully Offers, Prices and Conditional Sales.
