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
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
KITCHENER-WATERLOO, ON (Oct 5th, 2011) – Residential sales to the end of the third quarter of 2011 are behind last year by 2.9 percent. A total of 4,975 homes have sold to date this year through the Multiple Listing Service (MLS®) of the Kitchener-Waterloo Association of REALTORS®, compared with 5,126 during the same period last year.
Overall residential sales brought the dollar volume to $1,493,498,796, an increase of 0.8 percent compared to one year ago.
While sales have been slightly behind last year’s results for most dwelling types, the condominium-class property has been the notable exception. There have been 953 condominium sales year-to-date, a 2.8 percent increase compared to a year ago.
Source: Kitchener Waterloo Real Estate Board
Thanks for reading!
Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Here is the press release below about August home sales in Kitchener Waterloo. I think low interest rates are playing a big part in the increase in sales. Bank of Canada announced that they will be leaving the interest rate at 1.00%. I think we are going to have a strong fall real estate market hear in Kitchener Waterloo!
KITCHENER-WATERLOO, ON (Sept. 7th, 2011) – There were a total of 507 home sales through the Multiple Listing Service (MLS®) system of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August. This represents a 7.2 percent increase in residential sales compared to the same month last year. Sales in the month of August included 341 detached homes, 32 semis, 27 townhomes and 100 condominium units.
The average sale price of all residential properties sold in Kitchener-Waterloo and area rose 4.3 percent to $293,149, up from $280,985 one year ago. Condominium units increased 3.2 percent in August compared to last year to $208,238. Similarly, the average sale price of detached homes rose 3.3 percent to $330,561 over August 2010.
Despite this increase in August sales compared to 2010, overall residential sales are down on a year-to-date basis from 4,615 to 4,476 units which signify a 3.0 percent decrease in transactions. Residential sales are also down from the month of July by 2.3percent which recorded 519 residential sales.
“There were a lot of positive numbers this August compared to the same month last year,” said George Patton, President of KWAR. “Sales were brisk; we had a good amount of multiple offers reported. The $300 to $350,000 price range was definitely the most popular with buyers in August, representing 14 percent of all sales for the month.”
Homes priced above $350,000 also saw significant activity and accounted for another 23 percent of sales in the month of August. “The cooler weather signifies the beginning of the fall market – always a busier time for real estate sales,” notes Patton.
Consumers uncertain about current market conditions should work with a REALTOR® to develop an effective selling strategy. If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step. A REALTOR® understands the local market and must, by law, look after your best interests.
Kitchener Waterloo Real Estate Board Statistics for May 2011
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.
Kitchener Waterloo Real Estate Board Statistics for May 2011
Single Family Detached Homes only
WATERLOO REGION (ALL Areas, Single-Detached Only)
May 2011
May 2010
%CHANGE 10/11
Apr 2011
%CHANGE Apr/May
UNITS SOLD
445 SOLD
427 SOLD
+4.2%
418
+6.5%
AVERAGE PRICE SOLD
$353,532
$342,146
+3.3%
$350,140
+1.0%
AVERAGE DAYS ON MARKET
41 DAYS
37 DAYS
+10.8%%
42
-22.6%
MEDIAN SALE PRICE
$315,000
$300,000
+5.0%
$326,000
-3.4%
SALE PRICE TO LIST PRICE RATIO
98.3%
98.3%
0%
98.8%
-0.5%
The above information is believed to be correct errors and ommissions accepted
Here is the Kitchener Waterloo Real Estate Board’s press release for May.
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®.
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 May 2011
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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wmcneil @ December 5, 2011 3:08 pm
Here is the press release below about August home sales in Kitchener Waterloo. I think low interest rates are playing a big part in the increase in sales. Bank of Canada announced that they will be leaving the interest rate at 1.00%. I think we are going to have a strong fall real estate market hear in Kitchener Waterloo!
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