How’s The Market? Kitchener Waterloo Real Estate Board Statistics for Dec 2011
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:
Kitchener Waterloo Real Estate Board Statistics for Dec 2011
Single Family Detached Homes in All Areas
WATERLOO REGION (ALL Areas, Single-All Areas)
Dec 2011
Dec 2010
%CHANGE 10/11
Nov 2011
%CHANGE Nov/Dec
UNITS SOLD
221 SOLD
207 SOLD
+6.8%
293
-24.6%
AVERAGE PRICE SOLD
$345,773
$329,134
+5.1%
$344,037
+0.5%
AVERAGE DAYS ON MARKET (Resale Homes)
53 DAYS
59 DAYS
-10.2%
51
+3.9%
MEDIAN SALE PRICE
$320,000
$300,000
+6.7%
$315,000
+1.6%
SALE PRICE TO LIST PRICE RATIO
97.2%
97.7%
-0.5%
97.6%
-0.4%
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)
YTD 2011
YTD 2010
6253 SOLD
6389 SOLD
-2.1%
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
Kitchener Waterloo Real Estate Board Statistics for Nov 2011
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:
Kitchener Waterloo Real Estate Board Statistics for Nov 2011
Single Family Detached Homes in All Areas
WATERLOO REGION (ALL Areas, Single-All Areas)
Nov 2011
Nov 2010
%CHANGE 10/11
Oct 2011
%CHANGE Oct/Nov
UNITS SOLD
293 SOLD
304 SOLD
-3.6%
319
-8.2%
AVERAGE PRICE SOLD
$344,404
$321,747
+7.0%
$353,063
-2.5%
AVERAGE DAYS ON MARKET
56 DAYS
59 DAYS
-5.1%
52
+7.7%
MEDIAN SALE PRICE
$315,000
$286,000
+10.1%
$305,000
+3.3%
SALE PRICE TO LIST PRICE RATIO
97.6%
97.7%
0.0%
97.4%
+0.2%
TOTAL RESIDENTIAL (Year-To-Date)
5921 SOLD
6062 SOLD
-2.3%
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
KITCHENER-WATERLOO, ON (December 5, 2011) –– There were a total of 450 residential sales through the Multiple Listing Service (MLS®) of the Kitchener‐Waterloo Association of REALTORS® (KWAR) in November, with a total dollar volume of $134,889,762, a decrease of 1.7 percent relative to results in November 2010.
Sales of residential properties to the end of November were down 7.8 percent compared to results one year ago, but on par with the previous 5-year average for units sold in the month of November.
“November’s home sales were on par with expectations and previous year’s activities, and we are pleased to report that the residential real estate market continues to demonstrate its stability in Waterloo Region,” said Sara Hill, President of the KWAR.
Year-to-date, there have been 5,921 residential units sold, a decline of 2.3 percent compared to the same period last year.
Home sales last month included 292 detached homes (down 3.3 percent from November 2010), 89 condominium units (down 28.8 percent from November 2010), 37 semis (up 2.8 percent from November 2010), and 26 townhouses (up 18.2 percent from November 2010).
The average price of all homes sold last month increased 6.6 percent to $299,755. Sales of detached homes contributed the most significant increase with a jump of 7 percent in November to $344,404, relative to one year ago. The next biggest increase came from the freehold Townhouse category which increased 6.1 percent to $257,142. Decreased demand for condominium sales in November was reflected by the 0.3 percent decrease in the average price to $207,697 from November 2010.
“The Waterloo Region housing market is on solid footing,” says President Hill, “contrary to some recent international headlines suggesting a slump in the so-called global housing market. This simply reinforces the importance for consumers to talk to a local REALTOR® to understand what’s really happening at the local level, as housing markets often differ from national or even international trends.”
Thanks for reading!
Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Here is a video I did about the unit sales for single-detached houses and condominiums in the Kitchener Waterloo area. This information is useful for people who live in these areas as well as those who are looking to buy or sell and want to know what the top selling areas are. If you would like me to report any other statistical information, please feel free to leave a comment below.
Here is a breakdown of the stats that I used in the video.
Unit Sales
Single-Detached
Condominiums
Total Unit Sales
826
355
Waterloo West
179
73
Waterloo East
166
50
Kitchener West
337
171
Kitchener East
144
61
Top 3 selling areas for Single-detached
Laurention/Country Hills - 74 sales
Forest Heights – 46 sales
Forest Hill – 43 Unit sales
Top Selling Age Ranges for Single-Detached
6-10 Years – 35 unit sales
31-40 years – 36 unit sales
41-60 years – 32 unit sales
Top Selling areas for Condominiums
Laurention/Country Hills – 41 units sold
Top selling age Ranges for Condominiums
Less then 5 years – 13 unit sales
Thanks for reading!
Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
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kitchener real estate statistics,Kitchener-Waterloo Real Estate,KW Real Estate Board Statistics — Tags: Kitchener board stats, kitchener real estate, kitchener real estate statistics, kitchener waterloo active listings, kitchener waterloo average days on market, Kitchener Waterloo home sellers, kitchener waterloo real estate board, Kitchener Waterloo real estate statistics, kitchener waterloo unit sales, Kitchener-Waterloo Real Estate, kitchener-waterloo real estate agent, KW Real Estate, KW Real Estate Board Statistics, kwreb board statistics, month of march, Waterloo Real Estate, waterloo real estate statistics, Waterloo Region —
wmcneil @ January 11, 2012 1:37 pm
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