How’s The Market? Kitchener Waterloo Real Estate Board Statistics for March 2013

How’s The Market? Kitchener Waterloo Real Estate Board Statistics for March 2013

By Warren McNeil

How’s the market? We get asked that question all of the time. The answer: It all depends. It is different if you are looking to buy, sell or invest. Knowing the market information is key to knowing when the best time to buy, sell and invest.

The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of March 2013 and compares it with the same months in the previous year. This information is for Single Detached All Areas.

kitchener waterloo real estate board statistics

Kitchener Waterloo Real Estate Board Statistics for March 2013

Single Family Detached Homes in All Areas

 


March 2013

WATERLOO REGION (ALL Areas, Single-Detached) March 2013 March 2012 %CHANGE 12/13 February 2013  %CHANGE Feb 13/Mar 13  %Change 12/13
UNITS SOLD 397 SOLD 447 SOLD -11.2% 301 31.9% -6.8%
AVERAGE PRICE SOLD
$367,824
$355,628
+3.4%
$368,727
-0.2% +2.5%
AVERAGE DAYS ON MARKET (Resale Homes) 48 DAYS 44 DAYS  +9.1% 51 -5.9% +4.1%
MEDIAN SALE PRICE $336,000 $328,000 +2.4% $327,000 +2.8% +2.4%
LIST TO SALE PRICE RATIO 98% 98.2% -0.2% 97.7% +0.4% -0.2%

The above information is believed to be correct errors and omissions accepted


TOTAL RESIDENTIAL  (Year-To-Date – March 2013)

Total unit sales year to date for all single family detached and single family-all other (Semis, freehold towns etc)

YTD 2013 YTD 2012  %Change
938 SOLD 1006 SOLD -6.8%

The average price YTD (March 2013) is $364,727 vs $355,984(2012)

The above information is believed to be correct errors and omissions accepted


 

My personal observation this month is that there doesn’t seem to be enough inventory for the buyers. There seems to be a lot of pent up demand and I think it has to do with the colder temperatures.  As things warm up and we shift into high gear  I think it will become a busy spring market. We just need to see more listings!! 

 


What is Median Sale Price? (Reference Wikipedia)


The median home price is one of the most common measurements used to compare real estate prices in different markets, areas, and periods. It is said to be less biased than the mean (average) price since it is not as heavily influenced by small number of very highly priced homes.

If we take 7 houses that were sold and sort their prices from lowest to highest in 1000s of Canadian Dollars.

225, 250, 275, 280, 300, 330, 350

Median price is 280, because it is right in the middle of the range – there are 3 prices that are lower and 3 prices that are higher.

How median price is different from average price?

To calculate average price we have to sum all of the prices and then divide by the number of units sold, therefore

Average price = (225 + 250 + 275+ 280 + 300 + 330 + 350) / 7 = approximately 287

What median price shows?

It shows who rules the market in a certain place (suburb or area) at certain time (i.e. 3 or 6 months or a year): if there are more people buying expensive houses than cheap ones, it will go up, but if there are more people buying cheap property than expensive – it will go down.

Kitchener Waterloo Real Estate Statistics March 2013


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks
email Email Team McNeil twitter Team McNeil on Twitter rss Team McNeil's Blog youtube Team McNeil on Youtube linkedin Team McNeil on LinkedIn
Facebook: www.facebook.com/TeamMcNeilRemax

websites: www.TeamMcNeil.com, www.ClickThatHouse.com,
www.KitchenerLofts.com,
www.ElmiraRealEstate.ca

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Delayed Spring Real Estate Market in Kitchener

It has been a little while since I have done a video. I apologize for the gap between my last video. I just wanted to make sure I had something good to talk about.

It is an interesting time right now in Kitchener Waterloo. I believe that the weather has caused a delay in the spring market. Just this morning we had about an inch of snow fall and the temperatures are still below zero. As a matter of fact, the temperature is currently -4degC!!! It is April 3!! This might not be that unusual but it seems like it is.

Here is the video.


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks
email Email Team McNeil twitter Team McNeil on Twitter rss Team McNeil's Blog youtube Team McNeil on Youtube linkedin Team McNeil on LinkedIn
Facebook: www.facebook.com/TeamMcNeilRemax

websites: www.TeamMcNeil.com, www.ClickThatHouse.com,
www.KitchenerLofts.com,
www.ElmiraRealEstate.ca

Bookmark and Share
wmcneil Filed under: Video Blogs — Tags: , , , , , , — wmcneil @ April 3, 2013 8:36 pm

[FOR SALE] 94 Porchlight Drive, Elmira

94 Porchlight Drive, Elmira Just move in! Don\’t miss this lovely 3 bedroom, 3 bath home backing onto greenbelt. Features include open concept layout, lots of natural light, carpet free throughout, walkouts to upper and lower decks. Inviting master bedroom with gas fireplace. Professionally finished w/out basement with gas fireplace, 3 pc. bath and 25\’ x 24\’ deck with newer salt water hot tub and fire pit. Other features are tile and laminate floors, oak staircase, central vac, rounded corners, c/air. A must see! – View Listing

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Re/Max Twin City Magazine profiled us this month!

About two weeks ago Melanie and I met with Michael Warrington from the Re/Max Twin City magazine and did an interview with us. It was a great meeting and here is the article he wrote about us. We think he did a really good job profiling us..

 

Click the image below to read the article:

 

Alternatively you can click this link to read the article in PDF form.


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks
email Email Team McNeil twitter Team McNeil on Twitter rss Team McNeil's Blog youtube Team McNeil on Youtube linkedin Team McNeil on LinkedIn
Facebook: www.facebook.com/TeamMcNeilRemax

websites: www.TeamMcNeil.com, www.ClickThatHouse.com,
www.KitchenerLofts.com,
www.ElmiraRealEstate.ca

Bookmark and Share
wmcneil Filed under: kitchener real estate — wmcneil @ October 31, 2012 8:37 pm

Real Estate Investment Seminar – Oct 3, 2012

We are hosting a real estate investment seminar Oct 3, 2012. If you are thinking about real estate as an investment save the date and plan to attend. We look forward to seeing you!

 

Date: Wednesday October 3

Time: 7:00 pm

Location: Re/Max Twin City

901Victoria Street North, Kitchener

RSVP : September 28 to guarantee your spot (melanie@teammcneil.com)

Wine & cheese to follow

 

Our guest speakers will include:

Lawyer

Mortgage Specialist

Home inspector

Financial Advisor

Realtor


Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks
email Email Team McNeil twitter Team McNeil on Twitter rss Team McNeil's Blog youtube Team McNeil on Youtube linkedin Team McNeil on LinkedIn
Facebook: www.facebook.com/TeamMcNeilRemax

websites: www.TeamMcNeil.com, www.ClickThatHouse.com,
www.KitchenerLofts.com,
www.ElmiraRealEstate.ca

Bookmark and Share
wmcneil Filed under: kitchener real estate — Tags: , , — wmcneil @ September 5, 2012 12:24 pm


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