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.

Single Family Detached Homes only

The above information is believed to be correct errors and ommissions accepted

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®.

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
Connect with us on the following social networks Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca

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.

Single Family Detached Homes only

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.

APRIL SHOWERS WASH AWAY SOME OF THE BUYERS

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
Connect with us on the following social networks Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca

By Warren McNeil  

The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of March 2011 and compares it with the same month in the previous year. This information is for single detached only in all areas.

Single Family Detached Homes only

The above information is believed to be correct errors and ommissions accepted

KITCHENER-WATERLOO, ON (April 5, 2011) – Sales of residential properties via the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) ran slightly above the five-year average for the first quarter.

During the first quarter of 2011, there were a total of 1474 home sales, 10.4 percent below last year’s record for the same period.

“Residential real estate sales in the area continue to perform well,” says George Patton, President of KWAR. “We’ve not set any records yet this year, but a stable market is a good market.”

Home sales for the month of March totalled 608 units, 15.4 percent lower than the same month a year ago —also a record breaking period. Of those sales, there were 385 single detached homes, 116 condominium units, 61 semi-detached and 40 freehold townhouses.

Patton says he is paying attention to see what effect the recent mortgage rate increases by several of Canada’s big banks will mean for the typically busy spring real estate market. “By historical standards, mortgage rates are still pretty low,” he said. “With the economy continuing to strengthen, the housing market should stay balanced.”

While the most popular price range selling in March of last year was in the $225,000 to $250,000 category, making up 16.7% of the residential market, this month’s sales activity shifted to the higher price ranges, with nearly 15% of sales occurring in the $300,000 to $350,000 price range.

This has pushed the average sales price for all residential properties in the month of March up 5.4% to $298,671 compared with the same month a year ago. However, on a year-to-date basis, the average sale price has increased more gradually with a one percent increase to $290,148 relative to last year.

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®

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.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca

By Warren McNeil  

The Table below shows the most relevant Kitchener Waterloo real estate data for the Month of February 2011 and compares it with the same month in the previous year. This information is for single detached only in all areas.

Single Family Detached Homes only

The above information is believed to be correct errors and ommissions accepted

KITCHENER-WATERLOO, ON (February 3, 2011) –Sales of residential properties by REALTORS® through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) were steady in January.

There were a total of 359 residential properties sold last month, a 9.5 percent increase compared to December 2010, and a 10.3 percent decrease relative to the same month a year ago.

 “After posting record numbers in January of last year, we find January 2011 returning to more normal levels, “said George Patton, President of the KWREB.  “As usual, the first three weeks of January were fairly slow with much more activity in the final week of the month”

January’s residential sales included 242 detached homes, 61 condominium units, 27 semis, and 26 freehold townhouses.    

The dollar volume of all residential real estate sold last month was $100,174,173, a 5.8 percent increase compared to December 2010, and a 13.7 percent decrease relative to the same period last year.

While the average price of all residential properties sold the MLS® System of the KWREB in January experienced a decrease of 3.9 percent to $279,037, the president points out that this time last year there were more homes selling in the higher price ranges, which put upward pressure on the average price.

Detached homes sold for an average price of $313,110 in January, a 3.4 percent decreased relative to one year ago. The average sale price for a condominium unit was $189,402 last month, a 3.1 percent decrease compared to last year.

The KWREB 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®.

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.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca

Check out this video I did about some new tools that Re/Max is providing us to better market our listings.

The tools are text messaging and QR codes. The text messaging will allow a prospective buyer to drive up to one of our listings and text to request more information about a listing. The details will imediately be sent to the phone of the prospective buyer. The other tool is the use of a QR code.

QR stands for quick response and is a square barcode that makes getting URLs, SMS (text), contact information or location coordinates onto a phone–fast. With a barcode scanner app installed, point your phone’s camera at the code to read its contents.

Here is my QR code, try it out!

I have a Blackberry so the app that I use to read QR codes is called “QR Code Scanner Pro”.  The app is free to use.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca