By Warren McNeil,

I know I just posted the stats a couple of days ago but I felt compelled to mention these particular details. October 2009 set a record for the total number of sales by the end of the month. The number was 579 units which is approximately 40.5% more then last October. This is great news with all the exchange that is going on. I expect we will see more of the same and am optimistic that 2010 will be a record breaking year!

Here is the media release fromt he Kitchener Waterloo Real Estate board…. 

MLS® HOME SALES REACH MONTHLY HIGH FOR SECOND CONSECUTIVE MONTH IN OCTOBER

KITCHENER-WATERLOO, ON (November 4, 2009) – A new record for residential sales was set in October as MLS® homes sales to the end of October reached 579 units. That’s a 40.5 percent increase from October 2008 and the second consecutive month that sales set a monthly record.

“October was an especially busy month for local REALTORS®,” according to Karen Shartun, President of the Kitchener-Waterloo Real Estate Board (KWREB). “Last month’s results represent the largest month-over-month increase we’ve seen all year, and now overall residential unit sales have practically caught up to 2008 figures on a year-to-date basis.”

Year-to-date, there have been 5,545 residential units sold, which is just 1% shy of the 5,596 units sold to-date this time last year.

Home sales last month totalled $149,717,233 (up 37.5 percent from October 08) and included 355 detached homes (up 35.5 percent from October 08), 114 condominium units (up 25.3 percent from October 08), 53 semis  (up 165 percent from October 08), and 53 townhouses (up 43.2 percent from October 08).

The average price of all residential properties sold through the MLS® System of the KWREB last month sold for an average price of $258,579 a 2.1 percent decrease from October 2008. Similarly, the average price of a single family detached home sold in October decreased 2.5 percent to $300,360.

In the condominium market the average sale price in October was $171,810 a 2.8 percent increase over October 2008.

“There continues to be strong demand for homes in Kitchener-Waterloo and area,” says Shartun. “And that is being driven by low interest rates, the desire for homeownership, and general confidence in real estate as a wise investment.

 In a nutshell, looks like the Kitchener-Waterloo real estate market is hot!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com  

By Warren McNeil
 

     The Table below shows the most relevant real estate data for the month of Oct 2009 and compares it with the previous month and the previous year, Sept 2009 and Oct 2008, respectively. This information is for single detached only.

Thanks for reading!

By Warren McNeil

It’s amazing how quickly you can get up to speed with this social networking stuff. I have been blogging for over a year now but only recently started to use Facebook.  I think this is really useful for staying in touch with friends and business relationships. So far my experience has been a positive one with my new Facebook page. I like to write blogs on my website and then post them to my Facebook page. That way I can get the word out to more people regarding what I am blogging about. I might even get a Twitter account.

My goal is to provide useful information from time to time about real estate market in Waterloo Region. Whenever I find something useful I plan on publishing it to both my blog and my Facebook page.

Anybody who is a fan of our Real Estate Fan Page will receive the blog updates.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com  

By Warren McNeil

The Record did a really nice article for our new construction project in Drayton. See the attached pdf file Montgomery Home Advertising Feature in The Record Oct 31, 2009

For more information about our new home construction in Drayton, see

The Foxhaven Model Home - $399,900

The Conestoga – $299,900

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com  

By Warren McNeil

Searching for a condo or loft in Kitchener,Waterloo or Cambridge? Here are a few options to consider if you are in the market.

The Kaufman Lofts are built by Andrin Homes. As of this writing, there are currently 10 lofts for sale ranging in price from, 174,900 (600 sq.ft) to 289,900 (1120 sq.ft). There is also a 570 sq.ft unit available for 1,195 per/month lease.

These beautiful condos are located in the east end of downtown Kitchener attached to the Kitchener Farmers Market (aka Your Kitchener Market). The developer is the Barrel Works who also built the Seagrams lofts in Waterloo. These condos are open concept in design, hardwood floors, modern kitchens with granite countertops and maple cabinetry. In-suite laundry, underground parking and use of a quiet court for get togethers with friends or family.

There are units currently for sale between $194,900(864 sq.ft) to $269,900 to (1294 sq.ft).

Next is a Waterloo condo development which was also developed by the Barrel Works Group along with Terra View Homes and Kiwi Newton Construction. At a cost of over 25 million to develop, there are a total of 103 loftstyle condomiums that take up a site area of over 2.3 acres. Before the buildings were built, the site was used as a distillery warehouse, housing upto 17,000 barrels of whiskey.

Seagram Lofts is adaptive reuse of a brownfield site, which created residential property in the heart of Waterloo’s downtown core from two, heritage,  whisky-barrel warehouses. As part of downtown Waterloo’s revitalization, the project was the subject of much public interest.The project created 103 loft-style condominium units with high ceilings and large windows. Complementing these features are original brick walls and barrel-wood, evoking the old  warehouse feel.” source CMHC Case Study Waterloo Seagrams Lofts case study.

There is currently only one unit for sale that is priced at $359,000 and is 1260 sq.ft.

Sources: CMHC Case Study Waterloo Seagrams Lofts
CMHC Case Study Waterloo Seagrams Lofts

 A new development situated in Uptown Waterloo is the Bauer lofts. These modern lofts feature 10 foot ceilings and 8 foot high door entrances. Units range in size between 600-1200 sq.ft and larger.  The Bistro-style kitchen features centre island and stylish modern cabinetry. This development blends the old with the new .  All the units are almost sold out with the exception of one unit that is currently listed at $339,900 for 1265 sq.ft. They are leasing units between $1500 to $2850.

For more information about these or any other loft or condo in Kitchener-Waterloo area, please contact us.

Thanks for reading!

We are a full-time real estate team in Waterloo Region, Woolwich & Wellesley Townships. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo, Cambridge, Elmira, Wellesley, Wilmot, Drayton and everywhere in between. If you would like us to help you with your home search, please check out our brand-new free search website or if you are thinking of selling, get a free market evaluation.

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 Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca