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 Real Estate Board Statistics for Oct 2011
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.
Kitchener Waterloo Real Estate Board Statistics for Oct 2011
Single Family Detached Homes only
WATERLOO REGION (ALL Areas, Single-Detached Only)
Oct 2011
Oct 2010
%CHANGE 10/11
Sept 2011
%CHANGE Sept/Oct
UNITS SOLD
317 SOLD
291 SOLD
+8.9%
325
-2.5%
AVERAGE PRICE SOLD
$352,864
$346,499
+1.8%
$332,358
+6.2%
AVERAGE DAYS ON MARKET
52 DAYS
51 DAYS
+2.0%
48
+8.3%
MEDIAN SALE PRICE
$305,000
$309,000
-1.3%
$307,000
-0.7%
SALE PRICE TO LIST PRICE RATIO
97.5%
97.7%
-0.3%
97.7%
-0.3%
The above information is believed to be correct errors and ommissions accepted
Here is the Kitchener Waterloo Real Estate Board’s press release for Oct 2011.
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®.
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 Oct 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 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
Kitchener Waterloo Real Estate Board Statistics for April 2011
By Warren McNeil
The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of April 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 April 2011
Single Family Detached Homes only
WATERLOO REGION (ALL Areas, Single-Detached Only)
Apr 2011
Apr 2010
%CHANGE 10/11
Mar 2011
%CHANGE Mar/Apr
UNITS SOLD
280 SOLD
341 SOLD
-17.9%
265
+5.7%
AVERAGE PRICE SOLD
$354,906
$328,859
+7.9%
$345,336
+2.8%
AVERAGE DAYS ON MARKET
53 DAYS
43 DAYS
+25.6%%
43
+25.6%
MEDIAN SALE PRICE
$324,000
$295,000
+9.8%
$305,000
+6.2%
SALE PRICE TO LIST PRICE RATIO
98.8%
98.5%
+0.3%
98.4%
+0.3%
The above information is believed to be correct errors and ommissions accepted
April sales were down and it could have been related to buyers being pre-occupied with the Federal Election, Royal Wedding and the wet weather. We will have to see what the rest of May brings. The weather so far has been great and we are getting busier with our clients. We will have to see how the rest of the month goes.
Here is the Kitchener Waterloo Real Estate Board’s press release for April.
APRIL SHOWERS WASH AWAY SOME OF THE BUYERS
KITCHENER-WATERLOO, ON (May 4, 2011) –Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were slower than usual for April.
There were a total of 614 residential properties sold last month, a 14.4 percent decrease compared to April of last year, and 47 sales shy of the previous five year’s average.
“Given the record breaking wet weather that dominated this past April, it is probable that this had the effect of slowing the start of the spring selling season,” says George Patton, President of KWAR. “Add to this the distraction of the royal wedding and people’s attention being given to the federal election and you have ample reasons for buyers lowering their home searching priority.”
April’s sales included 416 detached homes, 120 condominium units, 45 semis and 30 townhouses.
“Once again we are noting a shift in where the activity is taking place on the price scale,” says Patton. “Last April 35% of the home sold for more than $300,000, this past April the number of homes selling above that price point made up 43% of the total homes sold.
The average sales price of all residential sales increased 5.6 percent to $310,704 compared with April 2010. While single detached homes sold for an average price of $350,442, an increase of 4.9 percent compared to last year. In the condominium market the average sale price in April increased 11.3 percent to $214,113 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 April 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 @ January 11, 2012 1:37 pm
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