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 December 2011 and compares it with the same month in the previous year. This information is for Single Detached All Areas.

Please view this video I did about the Kitchener Waterloo Real Estate board statistics for Dec 2011:

Single Family Detached Homes in All Areas

TOTAL RESIDENTIAL  (Year-To-Date)

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

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

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 Dec 2011

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

KITCHENER-WATERLOO, ON (January 5, 2011) ––   The 329 residential sales through the Multiple Listing Service (MLS®) of the Kitchener‐Waterloo Association of REALTORS® (KWAR) in December mirrored sales from the previous year. December’s results bring the total number of residential homes sold by REALTORS® through the KWAR MLS® System in 2011 to 6,252, a 2.1 percent decrease compared to 2010.

The total dollar volume of all residential properties sold last year increased 1.8 percent to $1,881,532,761, reflecting the steady price gains, and ongoing demand for homes in the higher price ranges.

The average price of all residential properties sold in 2011 increased 4 percent to $300,949. Single detached homes sold for an average price of $342,659 in 2011, a 3.9 percent increase relative to 2010. In the condominium market the average sale price in 2011 was $205,354, a 3.5 percent increase over the previous year.

“2011 was a great year for home buying and selling,” says Sara Hill, president of the KWAR.  “Waterloo region continues to be a desirable place to live with a strong local economy. Low interest rates certainly continued to support buyers while sellers benefited from steady gains in home prices.”

Home sales in 2011 included 4,118 detached homes (down 0.3 percent from 2010), 1,200 condos (down 1.7 percent from 2010), 497 semis (down 1.4 percent from 2010), and 372 townhouses (down 21.5 percent from 2010).

Looking back at 2011, the president of the KWAR observed that the beginning of the year started with slower sales activity and that by June, sales started to gain momentum.

“Moderate demand in early 2011 was likely the result of the many buyers who purchased in the latter part of 2009 and early 2010 to avoid anticipated higher mortgage rates, and the HST,” says Hill.  “Then, when adjustments to the rules for government-backed insured mortgages were implemented in March of 2011, this may have further impacted the ability for some to enter the housing market, particularly first-time buyers.” First-time buyers are an important segment of the KW real estate market, according to the president of the KWAR, “because the population of KW is younger than the provincial average.”

See full report: http://www.kwar.ca/stats/December_2011_Media_Release.pdf

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

By Warren McNeil

The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of November 2011 and compares it with the same month in the previous year. This information is for Single Detached All Areas.

 Please view this video I did about the Kitchener Waterloo Real Estate board statistics for Nov 2011:

Single Family Detached Homes in All Areas

TOTAL RESIDENTIAL (Year-To-Date)

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

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 Nov 2011

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

By Warren McNeil

The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of October 2011 and compares it with the same month in the previous year. This information is for single detached only in all areas.

Single Family Detached Homes only

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

OCTOBER RESIDENTIAL SALES UP

KITCHENER‐WATERLOO, ON (Nov 3rd, 2011) –– The number of residential real estate sales through the Multiple Listing Service (MLS®) of the Kitchener‐Waterloo Association of REALTORS® (KWAR) increased to mark a gain over October 2010 of 4.9 percent.

There were a total of 470 residential sales, with a total dollar volume of $143,058,192, representing a 5.6 percent increase over results recorded in October 2010. “Although all marketplaces are subject to month to month fluctuations it is obvious that we have a strong, stable market in our region,” said George Patton, President of the KWAR. “We are seeing that people have confidence in investing in the housing market in this area.” Year‐to‐date, there have been 5,574 residential units sold, a decline of 2 percent compared to the same period last year. Home sales last month included 309 detached homes (up 6.6 percent from October 2010), 98 condominium units (up 3.2 percent from October 2010), 31 semis (down 11.4 percent from October 2010), and 26 townhouses (on par with October 2010). Price increases were stable in October; the average price for all residential properties last month was $304,379, a 0.7 percent increase compared to a year ago.
Similarly, the average price of a single family detached home sold in October increased a slight 0.9 percent to $332,358. “Those wishing to enter the housing market can still take advantage of low interest rates,” says Patton. “Buyers can feel confident that they are purchasing in what is a healthy local housing market.”

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a REALTOR®.

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 Oct 2011

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

By Warren McNeil  

The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of May 2011 and compares it with the same month in the previous year. This information is for single detached only in all areas.

Single Family Detached Homes only

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

APRIL SHOWERS WASH AWAY SOME OF THE BUYERS

KITCHENER-WATERLOO, ON (June 3, 2011) – Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) returned to typical numbers after a slower than usual start to the year.

There were a total of 667 residential properties sold last month, a 4.5 percent increase compared to May of last year, and the third highest on record.

“While May might have been the wettest on record, that didn’t dampen the enthusiasm of buyers or sellers,” says George Patton, President of KWAR. “Spring always brings people out, and last month’s MLS® activity was on par or better than most years.”

May’s sales included 441 detached homes, 130 condominium units, 60 semis and 29 townhouses.

“There was increased activity on almost all types and price points of homes. The average sale price was pulled up by some strong higher end sales including 15 sales of residential properties between $750,000 and $1,00,000” says Patton. “We’re continuing to see lots of interest and activity in higher priced properties which is also a barometer of the local economy.”

The average sales price of all residential sales increased 2.8 percent to $310,003 compared with May 2010. While single detached homes sold for an average price of $353,058, an increase of 3.2 percent compared to last year. In the condominium market the average sale price in May increased 4.1 percent to $210,098 compared to the same month a year ago.

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Those requiring specific information on property values should contact a REALTOR®.

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 May 2011

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