Simplified Market Update – February 2019 – Polar vortex were no match for buyers!

By Cindy-lou Schmidt

Frigid January temperatures and a polar vortex were no match for buyers!

Home sales were up 14.6 per cent in January with 307 homes sold compared to the same month last year, and up nearly 15 per cent compared to the previous 10-year average for January.


The average days it took to sell a home in January was 26 days, which is 5 days less than the amount of time it took
in January 2018.

Cindy-lou’s Simplified Market Update


189 detached homes were sold in January (up 26 per cent compared to January 2018). Of those sold:

  • 80 condominium units (up 19.2 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.).
  • 20 semi-detached homes (down 28.6 per cent)
  • 17 freehold townhouses (down 19 per cent).


The average sale price of all residential properties sold in January increased 5.3 per cent to $484,076 compared to January 2018. Broken down by style of home:

  • Detached homes sold for an average price of $564,718 an increase of 1.9 per cent
  •  Apartment style condominiums increased by $305,334 on average (increase of 22.1 per cent).
  • Townhomes sold for an average of$368,227 (up 0.7 per cent)
  • Semis sold for an average of $407,852 (up 4.6 per cent)


Realtors listed 858 residential homes in K-W and areas last month, a 25.5 per cent increase compared to January 2018. Trends:

  • 810 active listings
  • 11.4 per cent more than January of last year, but still well below the previous ten-year average of 1,189 listings for January


Sellers: Market is great for selling and be sure to make the efforts to present your home well because more listings are arriving on the scene to compete with.

Buyers: Prices seem to be leveling out in term of sold price increases; however Waterloo Region remains a desirable place to be sure to be an active and purposeful buyer on homes you are genuinely interested in.

Prices look to be stabilizing or increasing at a more reasonable rate. Single-detached homes and condominiums continue to lead the market in the number of units sold. This really reflects the buying power of those who can afford a single detached home and the challenge of those in the lower price bracket who are securing condominiums but finding that semi-detached homes and semi-detached homes priced out of their budget.


I hope you enjoyed my Simplified Market Update. I strive to keep my clients and readers informed and empowered.


Full Official Full KWAR Media Release here.

Trends: Co-buying homes with friends

By Cindy-lou Schmidt, REALTOR®

Hello and welcome back real estate champions!

With the challenges of the mortgage rules and the rising home prices, some buyers have become creative!

As you may or may not have seen in the news, more and more people are buying homes together as friends and business partners.

Have you ever thought about purchasing a larger home or a home in a better neighbourhood by co-buying with a friend or family member? I discuss this topic and important facets to consider on a plan like this:

  1. Finances
  2. Lifestyle
  3. Timeline
  4. Financial advisor
  5. Lawyers

I hope you enjoyed this episode and found it useful. As always I appreciate when you give me a thumbs up on YouTube, Subscribe and of course when you “ring” or click the Bell on YouTube when you’re signed in so you get an automatic notification whenever I post a new video!

Thanks so much and have a wonderful day!