As many of you have likely noticed, particularly if you have been thinking about buying or selling property in the last year, the real estate market has seen a number of fluctuations. All you have to do is open your Facebook, or turn on the television to see headlines declaring that home prices are continuing to climb or drop. The most recent? Canadian home prices have seen the biggest drop in 7 years.
So what if you’re thinking about selling or downsizing? What if you need to buy a larger home for your family or move closer to work? While the news has kept some of you in the loop, it’s really REALTORS along with the local and national statistics that can help to make sense of what is happening at ground level in Waterloo Region. How can you best take advantage of the market to meet your goals?
As real estate professionals, Landon and I have been anticipating the economical and psychological effects of the changes in lending rates and policy regulations and prepare our clients with how that will change the real estate experience.
Our market knowledge, strategy, timing, marketing, and active assessments of patterns and statistics can be an asset that you too can benefit from. What’s your next move? Let’s talk about where you want to go, and how we’ll get you there. Make an appointment with me now and we’ll develop a plan that works for you.
Have you ever dreamed about a lake life but don’t like the idea of purchasing bug spray in bulk or endless hours going up highway 400?
What if there was a beautiful executive home that was on the teal waters of Lake Huron, close to shopping, dining and on the front porch of a golf course?
Enjoy the best of both worlds at 5 Manor Wood Crescent in Kincardine, Ontario, rated 28th best place to live in Canada and 9th in Ontario!
Maybe a move closer to one of our most beautiful great lakes is the next step! Have you considered moving, and want to truly get value for your money?
With 5 bedrooms and 4 baths and nearly 4000 square feet of living space, you’ll find this is a beautiful home you could get used to! You can find more information about this home at 5manorwood.com
Moving out of town, can be a great way to capitalize on the sale of your home in Waterloo Region and take advantage of lower average home sale prices in other areas in Southern Ontario. This home is part of our Sunset Collection of Listings. Contact us and we can help you find the perfect place to start a new beginning!
Last month, we saw fewer homes sold in Waterloo Region than compared to June 2016. This is the first time this has in nearly two years.
Still, with more homes being listed than ever before, the continued strong demand for homes means that most homes are still selling within weeks.
“Home sales in June were very strong, and we’re on track to have another record breaking year of residential sales,” says James Craig, President of KWAR. “June is the fourth consecutive month home sales in the Kitchener-Waterloo area have exceeded 700 units. Historically sales in KW and area have only ever surpassed the 700 unit threshold in a single month three previous times.”
Home prices remain higher than last year, with the average sales price of all residential sales increasing 19.8 per cent to $465,772 compared to June 2016.
Meanwhile, detached homes sold for an average price of $537,389 for an increase of 19.3 per cent, while the average sale price for an apartment style condominium was $276,443 for an increase of 17.6 per cent. Townhomes and semis sold for an average of $341,716 (up 23.2 per cent) and $380,660 (up 28.4 per cent) respectively.
For more on the official report on June’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.