August 4, 2010
Kitchener Waterloo Home Sales Surpass Billion Dollar Mark In First Half Of 2010!
Kitchener Waterloo Home Sales are doing really well for the first part of the year. Although there were 97 less unit sales then the first half of 2007 the Kitchener Waterloo Real Estate board reports that sales have surpassed the billion dollar mark for the first half of 2010. This is really good news and just shows how strong the Kitchener Waterloo Real Estate market really is here. The average sale price for a single-detached home is $331,359. That’s an increase of 11.7% on a year-to-year basis. See the full report below for more information.
Kitchener Waterloo Home Sales Surpass Billion Dollar Mark In First Half Of 2010!
KITCHENER-WATERLOO, ON (July 6, 2010) – During the first half of the year, the number of residential properties sold through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) increased 16 percent.
While the 3,633 homes sold during the first six months of the year are 96 units shy of 2007’s record breaking first half, the total value of those sales broke the one billion dollar mark for the first time to the end of June.
“The residential real estate market is alive and kicking in Waterloo Region,” says Ted Scharf, President of the KWREB. “Consumers continue to have a strong sense of confidence in the value of home ownership in the region, and I expect the market will remain steady and healthy for the remainder of the year.”
The increase in home sales occurred predominantly in the top half of the price range spectrum: There were 2,093 sales of residential properties for more than $250,000 to the end of June, compared to 1,446 for the same period in 2009, an increase of almost 45 percent.
In the upper end of the market, this trend was even more prominent, with an 84% increase in homes selling for more than half a million dollars relative to one year ago for a total of 205 sales.
The average sales price of all homes sold between January and June 2010 jumped 10.7 percent to $291,702, and the average price of detached homes was $331,359, an increase of 11.7 percent on a year-to date basis.
Residential property sales in June were down 12.1 percent compared to the same month last year, but were practically on par with May sales. Last month, there were a total of 634 homes sales in Kitchener-Waterloo and area, compared with 721 in June 2009.
“Considering the especially early spring market that started in March this year, June was surprisingly strong,” says Scharf. “This further illustrates the strength of our local market and is a reflection of our region’s strong economy.”
REALTORS® believe that healthy communities depend on a strong economy, safe neighbourhoods, a clean environment, access to housing and the protection of rights of property owners. The KWREB recognizes the need to support and enhance the Quality of Life enjoyed by residents of Waterloo region.
To find out more information about Kitchener Waterloo Homes Sales, check out our Kitchener Waterloo Real Estate Board Statistics section of, our blog.
I am expecting the fall market in Kitchener-Waterloo to really pick up. In just the past week we have seen increased showing requests and buyer activity. I am optimistic that Kitchener Waterloo Home Sales for the remainder of the year will continue to be strong.
Thanks for reading!
July 29, 2010
Kitchener Waterloo Real Estate Board Statistics for June 2010
By Warren McNeil
The Table below shows the most relevant Kitchener Waterloo real estate data for the month of June 2010 and compares it with the previous month and the previous year, (previous month) May 2010 and (previous year) June 2009, respectively. This information is for single detached only in all areas.
Kitchener Waterloo Real Estate Board Statistics June 2010
WATERLOO REGION
(ALL Areas) |
(June 10)
|
(June 09) |
%CHANGE
09/10 |
(May 10)
|
%CHANGE
May/June |
| UNITS SOLD |
426
SOLD
|
469
SOLD
|
-9.2% |
427
SOLD
|
-0.2% |
| AVERAGE PRICE SOLD |
$325,870
|
$303,358
|
+7.4% |
$342,146
|
-4.8% |
ACTIVE LISTINGS
(END of PERIOD) |
1653
ACTIVE
|
1538
ACTIVE
|
+7.5% |
1636
ACTIVE
|
+1.0% |
| AVERAGE DAYS ON MARKET |
36 DAYS
|
57 DAYS
|
-36.8% |
37 DAYS
|
-2.7% |
SALE PRICE TO
LIST PRICE RATIO |
98% |
98.3% |
-0.3% |
98.3% |
-0.2% |
As you can see from the above table, sales were really good in June. Last year there were more units sold but the average house price went up and the average days on market went down 36.8% this year over last year. Houses are selling faster. Sellers were trying to beat the HST so some were buying earlier in the year. Overall, residential sales in Kitchener Waterloo area are up 16% for the first 6 months of the year. This is good news and I expect the rest of the year to remain solid. The late-summer – fall market should be pretty strong.
The above Kitchener Waterloo Real Estate Board Statistics are believed to be correct errors and ommissions accepted.
Thanks for reading!
June 8, 2010
By Warren McNeil
The Table below shows the most relevant real estate data for the month of May 2010 and compares it with the previous month and the previous year, (previous month) April 2010 and (previous year) May 2009, respectively. This information is for single detached only in all areas.
WATERLOO REGION
(ALL Areas) |
(May 10)
|
(May 09) |
%CHANGE
09/10 |
(Apr 10)
|
%CHANGE
Apr/May |
| UNITS SOLD |
432
SOLD
|
478
SOLD
|
-9.6% |
485
SOLD
|
-10.9% |
| AVERAGE PRICE SOLD |
$338,209
|
$304,009
|
+11.2% |
$331,305
|
+2.1% |
ACTIVE LISTINGS
(END of PERIOD) |
1629
ACTIVE
|
1649
ACTIVE
|
-1.2% |
1397
ACTIVE
|
+16.6% |
| AVERAGE DAYS ON MARKET |
37 DAYS
|
49 DAYS
|
-24.5% |
43 DAYS
|
-14% |
SALE PRICE TO
LIST PRICE RATIO |
98.3% |
97.8% |
+0.4% |
98.5% |
-0.2% |
The above information is believed to be correct errors and ommissions accepted.
From the above graph you can see that the market is slowing a bit. Unit sales are down 10.9% over the same month last year. However the average house price is up 13% YTD for single detached houses in Kitchener-Waterloo.
Thanks for reading!
Thanks for reading!
May 21, 2010
By Warren McNeil
The Table below shows the most relevant real estate data for the month of April 2010 and compares it with the previous month and the previous year, (previous month) March 2010 and (previous year) April 2009, respectively. This information is for single detached only in all areas.
WATERLOO REGION
(ALL Areas) |
(April 10)
|
(April 09) |
%CHANGE
09/10 |
(Mar 10)
|
%CHANGE
Mar/Apr |
| UNITS SOLD |
482
SOLD
|
417
SOLD
|
+15.6% |
432
SOLD
|
+11.6% |
| AVERAGE PRICE SOLD |
$331,366
|
$289,948
|
+14.3% |
$326,930
|
+6.4% |
ACTIVE LISTINGS
(END of PERIOD) |
1373
ACTIVE
|
1722
ACTIVE
|
-20.3% |
1291
ACTIVE
|
+11.1% |
| AVERAGE DAYS ON MARKET |
43 DAYS
|
59 DAYS
|
-27.4% |
39 DAYS
|
+10.3% |
SALE PRICE TO
LIST PRICE RATIO |
98.5% |
97.5% |
+1.0% |
98.1% |
+0.3% |
The above information is believed to be correct errors and ommissions accepted.
So the spring/early summer market is just steaming along. Things are still really busy. From the above graph, the number of unit sales increased by 15.6% over the same month last year. Average house price is also up 14.3%. Keep in mind this is based on same month last year. The average YTD sale price is $325,788 and last years (2009) YTD was $285,464 which is a 14.1% increase! Not too bad for sellers trying to maximize their sale price. Average days on market haven’t changed much.. Houses are selling quickly..
I expect things will cool a bit in July and then pick back up again in September. This is just my speculation. May and June will be busy months.
Thanks for reading!
Thanks for reading!
May 17, 2010
April Home Sales Continue to Set Records
KITCHENER-WATERLOO – The sale of residential homes set a new record for April, surpassing the previous level set in 2007. Residential property sales through the Multiple Listing System (MLS®) of the Kitchener‐Waterloo Real Estate Board (KWREB) recorded 724 transactions, edging above the previous record set in 2007 of 711.
The 724 homes sold in April represent an increase of 12.6 percent relative to April 2009 results. In March there were 738 sales.
“April was a continuation of the spring surge which began a little earlier than usual this year with a record breaking March, “said, Ted Scharf, President of the Kitchener‐Waterloo Real Estate Board. “Buyers and sellers had an added sense of urgency this spring with the impending HST implementation and threat of rising interest rates.”
April’s sales included 482 detached homes (up 15.6 percent from 2009), 128 condominium units (up 18.5 percent from 2009), 46 semis (down 13.2 percent from 2009) and 62 townhouses (down 3.1 percent from 2009).
More homes selling in the higher price ranges was a notable trend last month notes Scharf. In April 2009 it was the lower priced residential homes driving the market out of the recession, now however; we are seeing a significant increase in the number of homes being sold above the $250,000 mark. 58% of the homes sold last month went for more than $250,000, compared to 43% in April 2009.
Stronger sales in the upper end of the residential market resulted in a 12.9 percent increase in the average residential price in April to $289,017, as compared with one year ago. Detached homes saw an average sale price of $331,366 a 14.3 percent increase relative to April 2009.
During the first four months of the year, there has been a 38.2 percent increase in the number of residential sales, with 2,437 residential sales compared to 1,763 in the same period one year ago.
REALTORS® believe that healthy communities depend on a strong economy, safe neighbourhoods, a clean environment, access to housing and the protection of rights of property owners. The KWREB recognizes the need to support and enhance the Quality of Life enjoyed by residents of Waterloo region.
Thanks for reading!
Thanks for reading!
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Kitchener-Waterloo Real Estate — Tags: consumer confidence, 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 @ 9:33 pm
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