This is a question that gets asked almost every day. However the answer is a lot more complicated then just saying “it’s good” or “it’s bad”. Each area of the Kitchener-Waterloo real estate market is different. For example, according to the KW real Estate Board,  condos in Kitchener-Waterloo  had an increase in 2009 of 2.2% over 2008. Freehold condos increased by 2.2% and single detached homes increase was 0.3%.

In order to get a really accurate evaluation of the market, we need to isolate the area that you are most interested in. For example, lets look at freehold condominiums in Waterloo West less then 10 years old.  The next thing we do is pull up all the freehold townhouses that sold within the last year. Feb 1, 2009 – Feb 1, 2010. I get the following information.

units sold 83
average sale price: 249,500
average list to sale price ratio:  98%
average days on market: 38

Now lets do the same comparison for Feb 1, 2008- Feb 1, 2009

units sold: 59
average sale price: $250.439
average list to sale price ratio: 99%
average days on market: 62

As you can see there is quite a bit of difference. Last year, there were 30 more freehold condos sold then in the same period in 2008. The average sale price was pretty much the same. In 2008 the list to sale price was higher then 2009. The average days on market was alot better in 2009 then in 2008.

What’s my point here? Well it’s simple, each area of the market require seperate analysis to get truly accurate data. From now on, my response when somebody asks the question,  “How’s the Kitchener-Waterloo Real Estate Market?” will be, it all depends on what information you are looking for. For Kitchener-Waterloo as a whole, I would say great!

Anyways, thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your home search, please check out our brand-new free search website or if you are thinking of selling, get a free market evaluation.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage (  519.579.4110 ~ 519-498-8118 
8 www.TeamMcneil.com, www.ClickThatHouse.com, www.LoftStyle.ca
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

I put together another video that will be helpful for people who are thinking about selling their house. I give you 5 good reasons why you should hire a realtor to sell your house. If you have any questions or comments please leave them below. I hope you enjoy it!

Here is a transcript of the video:

Hello again, I’m Warren McNeil. Real Estate Agent with Re/Max Twin City Realty in Kitchener

Today I am going to talk about the “Top 5 Reasons to Sell Your House with a Realtor”. I know there are many sellers out there right now getting ready to sell their house this year. The primary goal when selling you house is to get the most money possible. And having a good realtor on your side will make sure this process is successful. Here are the “Top 5 Reasons to sell Your House with a Realtor”.

Number 5
Pricing: We know the real estate market and can recommend a price based on recent sales in the area. We also take into consideration the condition of the home and its location. Properly pricing your house could mean the difference between your house selling quickly or sitting on the market forever. The question you need to ask yourself is, do you want to sell your house or do you want to just put it on the market?

Number 4
Market Exposure: A good realtor will market your home to the fullest so that it gets the best exposure possible. The effectiveness of various marketing is always changing, therefore we must remain cutting edge and research what works and stay on top of current trends. In addition to the traditional marketing methods such as print advertising or direct mail we also  utilize the internet and social media such as Blogs, Facebook, Twitter and Youtube to name a few.

Number 3
Experience: A good agent who sells lots of homes will be able to provide a high level of experience that will ensure that you get top dollar for you home and will also make sure that the process goes as smoothly as possible. Our experience will help reduce your stress!

Number 2
MLS and realtor.ca. MLS or multiple listing service is a database created by realtors which keeps track of all the homes that are currently for sale and those that have sold. The data in this database is very valuable and provides the realtor, sellers and buyers with information about the local real estate market. Realtor.ca is the main interface to this database and is searchable. Having your house listed in the MLS database will ensure that your house gets the maximum exposure to all prospective buyers anywhere in the world. There could be a buyer in China right now looking to relocate and is using realtor.ca to search the MLS for homes for sale in Waterloo. 

And the #1 reason to hire a realtor is to minimize risk and shift the responsibility. To act as a buffer between you and the buyer to ensure that emotions don’t get in the way. To protect your best interests and seek out qualified buyers. Dealing only with licensed realtors instead of complete strangers who may not have your best interests at heart. Shouldn’t you use a trusted professional to protect your single largest asset.

Thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of real estate in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your home search, please check out our brand-new free search website.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

Here are some tips if you are getting frustrated with your home search. Some people have trouble finding what they are looking for on the MLS. I have also found that some time the search doesn’t work as well as expected. When we first list a property it can take a day or two for it to propgate to realtor.ca or mls.ca. The reason for this is the data might take a day to get to the local real estate board and then it still has to get uploaded to realtor.ca/mls.ca and then displayed to the public.

I have also found that sometimes houses listed by agents who are out-of-board take a while longer to display. I have found the following tip really useful to help you find what you are looking for.

Use Advanced Search….

Most people who don’t use the Advanced search usually get frustrated really quickly. This search in my opinion, is the best way to use mls.ca.

Thanks for reading!!

Warren & Melanie McNeil | Real Estate Sales Representatives, Team McNeil | Re/Max Twin City Realty, Brokerage
( 519.579.4110 | * Click Here to Email | 8 www.clickthathouse.com, www.teammcneil.com/blog