By Warren McNeil  

The Table below shows the most relevant Kitchener Waterloo real estate data for the year  2010 and compares it with the previous year. This information is for single detached only in all areas.

Single Detached only

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.

KITCHENER-WATERLOO, ON (January 6, 2010) –The 6,388 homes sold by REALTORS® through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) last year marked the second highest total annual sales in the association’s history. Last year’s activity was strongest in the first half of the year, particularly March and April when the sale of residential properties were setting monthly records.

According to George Patton, President of the KWREB, a number of factors contributed to the early spring surge. “The federal government announced tighter mortgage rules, buyers were rushing to beat the introduction of the HST, and the central bank was forecasting higher interest rates.”

Dollar volume of all residential real estate sold last year jumped 9.3 percent to $1.8 billion compared with 2009, reflecting continued confidence in the local real estate market. The year finished on a strong note, with 326 home sales last month, a 4.1 percent decrease compared to December 2009, but still well above the previous 10 year average of 225. Sales of homes in all price categories above $250,000 were up in 2010 compared to 2009, with the greatest rise occurring in the number of homes selling above $750,000, which experienced triple-digit increases.

“The explosion of sales in the highest price ranges was reflected by the 9.3% increase in the average sale prices of detached homes,” says Patton. The average sale price of detached homes was $329,797 last year, whereas the average sale price of all residential real estate sold for $289,338, an increase of 8.6 percent.

The 2010 year was marked by continued consumer demand for condominium style homes, with a total of 1,221 sales, an increase of 8.6 percent relative to year-end results in 2009, and representing nearly 20 percent of the overall residential market share in terms of unit sales by type.

Other housing types showed small decreases relative to the previous year: 4,127 detached homes (down 0.3 percent from 2009), 506 semis (down 1.9 percent from 2009), and 474 townhouses (down 6.1 percent from 2009).

As for the year ahead, the president of the KWREB predicts that the first three months of 2011 will be relatively flat with a very busy March, April and May with which to look forward. Continued Patton, “Whatever your real estate plans are in 2011, be sure to consult with your REALTOR® first. A REALTOR® is your best ally in the purchase or sale of real estate.”

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 6, 2010) –The 6,388 homes sold by REALTORS® through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) last year marked the second highest total annual sales in the association’s history. Last year’s activity was strongest in the first half of the year, particularly March and April when the sale of residential properties were setting monthly records.

According to George Patton, President of the KWREB, a number of factors contributed to the early spring surge. “The federal government announced tighter mortgage rules, buyers were rushing to beat the introduction of the HST, and the central bank was forecasting higher interest rates.”

Dollar volume of all residential real estate sold last year jumped 9.3 percent to $1.8 billion compared with 2009, reflecting continued confidence in the local real estate market. The year finished on a strong note, with 326 home sales last month, a 4.1 percent decrease compared to December 2009, but still well above the previous 10 year average of 225. Sales of homes in all price categories above $250,000 were up in 2010 compared to 2009, with the greatest rise occurring in the number of homes selling above $750,000, which experienced triple-digit increases.

“The explosion of sales in the highest price ranges was reflected by the 9.3% increase in the average sale prices of detached homes,” says Patton. The average sale price of detached homes was $329,797 last year, whereas the average sale price of all residential real estate sold for $289,338, an increase of 8.6 percent.

The 2010 year was marked by continued consumer demand for condominium style homes, with a total of 1,221 sales, an increase of 8.6 percent relative to year-end results in 2009, and representing nearly 20 percent of the overall residential market share in terms of unit sales by type.

Other housing types showed small decreases relative to the previous year: 4,127 detached homes (down 0.3 percent from 2009), 506 semis (down 1.9 percent from 2009), and 474 townhouses (down 6.1 percent from 2009).

As for the year ahead, the president of the KWREB predicts that the first three months of 2011 will be relatively flat with a very busy March, April and May with which to look forward. Continued Patton, “Whatever your real estate plans are in 2011, be sure to consult with your REALTOR® first. A REALTOR® is your best ally in the purchase or sale of real estate.” For more information visit: http://www.howrealtorshelp.ca/

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

Just got back from vacation! We went to Orlando Florida and went to Disney World. We spent about 4 days going to the different theme parks. We visited Hollywood Studios, Epcot and Magic Kingdom. For the last few days of our vacation we went over to Daytona Beach for a little downtime. We needed a vacation from our vacation. Disney was really intense!! We had a terrific time!! The only low-light, I broke my toe!

I think the Kitchener Waterloo real estate market will be relatively balanced this year. According to the recent press release from the KWREB, the board predicts that the real estate market will be flat for the first 3 months of the year and then really pickup steam in the spring market. I don’t think we’ll see the same fluctuation that we did last year after the HST was implemented.

Looking forward to connecting with many new clients in 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,

Over the past couple of weeks we have met with a few people thinking about selling their house. One of the questions that they ask us is about selling the house in December. “Is Selling Your House in December a Good or Bad Idea?”. The answer to this question depends on how busy you think your holiday season will be. If you think it will be too difficult for you to work around the showings, than I think that it might be better to list after the holidays. However if you want or need to sell and are able to work around showings and offers then selling in December could work well for you. The nice thing about listing your house in December is there is less competition and the buyers who are looking are usually pretty serious. At least the buyers we work with. I am sure there are some people who might be just in the preliminary stages but most are serious buyers. Another thing is that the house is all decorated with lights and look really nice for prospective buyers.

Here is a video I did selling in December.

httpvh://www.youtube.com/watch?v=NqP9E5jeKVI

http://www.TeamMcNeil.com

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 2010 and compares it with the previous month and the previous year, (previous month) October 2010 and (previous year) November 2009, respectively. This information is for single detached only in all areas.

November sales show balanced market in Kitchener-Waterloo

KITCHENER-WATERLOO, ON (December 3, 2010) –Home sales moved comfortably in November, with a total of 484 homes reported sold through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB). This is within the traditional range for November sales over the past five years.

The condominium property class had a notable increase in November, as the only residential property type to see an increase in the number of units sold compared to last year. There were 122 condominium units sold last month, an increase of 22 percent over November 2009.

The most popular price range in November was for home selling between $200,000 and $225,000, whereas over the last two years, the greatest number of homes has sold in the $225,000 to $250,000 price range.

“Consumers favoured more modestly priced homes in November, however on a year-to-date basis, it is amazing how the higher priced properties are driving much of the local real estate market,” says George Patton, President of the KWREB.

The strength of this residential market has resulted in a record breaking dollar volume of sales through the KWREB’s MLS® System, with year-to-date results for 2010 currently showing a total of $1,753,664,113, a 9.6 percent increase over the same period last year, and easily surpassing the previous record posted in 2007 of $1,619,377,742.

“In terms of total dollar volume, 2010 is poised to go down in history as our best year ever,” notes Patton.

These numbers represent more than just what’s happening in the residential market adds the president, citing a study by Altus Group published in 2009 which found the typical MLS® home sale and purchase between 2006 and 2008 produced $46,400 in spin-off spending, including renovation and the purchase of furniture.

The average price of all residential properties sold through the MLS® System of the KWREB last month was $282,629, a 0.4 percent decrease compared to November 2009. Detached homes sold for an average price of $322,839 last month, a 0.6 percent decrease relative to one year ago.

Condominiums sold for an average of $209,094 in November, a 5.5 percent increase compared to the same month last year.

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