Coronavirus and Real Estate in Kitchener Waterloo


By Cindy-lou Schmidt

The spread of the Coronavirus is now a pandemic, according to officials at the World Health Organization on Wednesday March 11. And it has caused mounting panic for toilet paper and hand sanitizer.

For others, they’ve seen it affect the stock market. So what about the effect on real estate in Waterloo Region?

In this video I go over the every day impact of the COVID-19 on myself as a REALTOR® and on buyers, sellers and homeowners, including what you can and should do health and wealth wise.

A transcription of CORONAVIRUS AND REAL ESTATE IN KITCHENER WATERLOO is available below:

Hey there real estate Champions and welcome back to our channel, the number one place for people who love making smart real estate decisions.

So this week, we had a lot of interesting things on the world news front probably most notably the announcement of the COVID-19 or Coronavirus as a worldwide pandemic according to the World Health Organization, I think that was Wednesday, and since then there have been a lot of interesting things happening — at the grocery stores most notably, probably making the news — but also in terms of real estate.

I’ve had a lot of people ask me if they should still buy, or what they should do with the real estate market, and I’m going to answer those questions today.

Are you ready to get started? Let’s do it!

[ Intro Montage ]

Hi there, and welcome back. I’m Cindy-lou Schmidt, Broker of Record at Schmidt & Company Inc., Real Estate Brokerage here in Waterloo, and we serve Kitchener, Waterloo, Cambridge and surrounding area.

So, let’s get into this and talk about a few things. We’re going to talk about how the coronavirus or COVID-19, let’s just call that because it’s easier, can affect buyers, sellers and home owners. And some precautions you can take to be precautionary, protect yourself, just in case.

Now, I think that it is important to wash your hands, keep your hands away from your face. All of these basic things which we should be doing anyways, every year, because of the flu for example. But also, you know, we don’t know too much about this pandemic. So, let’s follow the guidelines that people are talking about, so hand sanitizer and things like that.

The interesting thing is that all of this stuff is stuff that I do already because I work all the time with people. I’m touching doorknobs that 30 or 40 people touch in a day, because some of the listings here in town are that busy. So, all the time I’m getting into my car, I’m immediately using hand sanitizer, I’m using wipes.

I don’t generally shake hands when I go to show homes for example. I will at the office because that’s easier to just wash your hands. And you’re really just meeting two people or one person at a time. And you can wash your hands in between appointments.

As far as sellers, some people are pretty concerned about opening their home to the public. Opening their home to many groups of people, especially depending on what price point you’re at. Under the $500k range, there’s going to be a lot of people through your home.

So, what can you do? Well, there’s some things I would consider personally if I had very, very young children. I might be a little bit more timely about listing my house. I might wait a little bit. Or, I would probably just make sure that they maybe would stay with the grandparents for a bit.

Now, that sounds a little bit wild. But realistically, when we list homes here at Schmidt and Company, the home will be listed and sold within a week. And so it’s not too long. And it’s a great way to just kind of make sure that everything is put away.

So generally we say, “Hey, put away your iPhones,put away your jewelry,” all of this kind of stuff, iPads. Also, I would recommend, just keeping things sanitized, right? So every day, wipe down your doorknobs. Make sure all that stuff is taken care of.

Now, that’s all the kind of sanitary stuff, precautionary stuff. But a lot of you are asking, you know, should I still buy real estate?

Um, yeah, you should still buy real estate.

Because here in Waterloo Region, if you don’t buy it, someone else will. Someone probably from the GTA area is going to come in and buy that real estate. And if it’s not them, it’s going to be an investor.

We all are going to need places to live. You will always need a place to live. And it is more advantageous, both for your present time and for your wealth building and other opportunities in the future for you to own because that’s an asset that continues to give.

Now, for sellers, you might be thinking, “Maybe this is a bad time to sell.” Well, the interest rates just dropped a great deal. And also for sellers and home owners, I do recommend that, one, you go and get a competitive rate. I have seen some amazing rates 2.39% at five year, 2.29% for a five year.

Also a really great time if you did not consolidate your debt from over the holidays. That’s Christmas, if you still have debt from Christmas. A really good time to consolidate debt as well. So, as buyers, you could take advantage of that to help you set the framework for you to go ahead and buy by this year.

So, yeah, I mean it’s a bit wild. I can be a little bit overwhelming, I think that, it isn’t so much the actual virus and all of that that’s stressful, it’s the air of stress. It’s people panicking. And, you know, not beable to get toilet paper. Not being able to refill my hand sanitizer that I’ve always had in my car for my appointments.

It’s a little frustrating because I just want to live my regular life, serving my clients, taking care of my clients, taking my buyers out. And, so yeah, am I feeling a little bit stressed, of the stress, of the climate of what’s going on right now? Yeah.

But I think for you guys as buyers, sellers and home owners, real estate wise, just continue doing what you’re doing.

Now I know some of you have probably read some of the stats about the stock market and how that is plummeting for people and they’re losing a lot, a lot of money. Well, what do I have to say about that?

Stocks are great. I think they are a great opportunity to get into but that’s also why they call it, and my dad calls it, real estate because it’s a real thing. You can go, touch it, live in it, make use of it, it’s practical. And we all need places to live. So, that’s why investing in real estate is a great thing to do.

I hope you continue to actively look for your home, sell your home and live in your home here in Waterloo Region. Because, it’s a great place to be and there’s always going to be things happening around the world, I would recommend that you be mindful, stay calm and just live your life, the way we should always be doing it, washing our hands all the time before eating, after shaking peoples hands,after touching doorknobs. All the normal stuff, right? We just want to be a little bit more mindful about it.

All right you guys, I hope that answered some of your questions. Yeah,
(laughs)
I will see you next week hopefully.

Well, next week I’m not going to talk about the virus because, I’m only addressing this because I had so many inquiries about it this week, that’s why.

So next week, another real estate-related topic.

So I will see you next week, and if you liked this go ahead and give me a thumbs-up and subscribe and of course ring that bell, because it will notify you every single time I post a video which is on Friday.

Buh-bye now!

Simplified Market Update – March 2020 for Kitchener-Waterloo – Strong homes sales spring up


By Cindy-lou Schmidt

Spring has definitely sprung early in Waterloo Region. Both in weather and home prices! Sale prices across the board are rising, homes styles, particularly single detached homes are on the sights for serious buyers and the days on market dropped drastically since March 2019.

Yes the trend continues of our Greater Toronto Area neighbours moving to town. And these days, it’s not just predominently young families who want a home with a yard, it’s downsizers, and millennials as well.

Watch my Simplified Market Update for March 2020 to see how things could look for you as a buyer, seller and homeowner!

KITCHENER-WATERLOO, ON (March 5, 2020) ––There were 467 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® in February, an increase of 36.5 per cent compared to the same month last year, and 15.3 per cent above the previous 10-year average.

Total residential sales in February included 272 detached homes (up 52 per cent), and 62 condominium units (up 14.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 32 semi-detached homes (up 33.3 per cent) and 101 freehold townhouses (up 18.8 per cent).

The average sale price of all residential properties sold in February increased 16.3 per cent to $571,023 compared to the same month last year, while detached homes sold for an average price of $673,825 an increase of 13.2 per cent. During this same period, the average sale price for an apartment-style condominium was $371,923 for an increase of 16.4 per cent. Townhomes and semis sold for an average of $443,382 (up 12.9 per cent) and $485,831 (up 8.4 per cent) respectively.

The median price of all residential properties sold in February increased 18.2 per cent to $550,050 and the median price of a detached home during the same period increased 18.6 per cent to $630,000.

REALTORS® listed 609 residential properties in KW and area last month, an increase of 7.8 per cent compared to February of 2019, and a decrease of 5.9 per cent in comparison to the previous ten-year average for February. The total number of homes available for sale in active status at the end of February was 447, a decrease of 39.4 per cent compared to February of last year, and 62 per cent below the previous ten-year average of 1,179 listings for February. The number of Months Supply (also known as absorption rate) in February was just 0.9 months, 40 per cent below the same period last year. The previous ten-year average supply of homes for February was 2.55 months, and in the past 5 years the average supply for February was 1.76 months.

The average days to sell in February was 17 days, compared to 26 days in February 2019.

MY TIPS:

  1. Sellers: Start planning for Spring Market 2020. Meet with your agent now to If there is ever a time to use a REALTOR® it’s now. Maximize this opportunity!
  2. Buyers: Write a letter to go with your offer, or make a video. This could tip the scales! It’s happened for us!
  3. Homeowners: Enjoy the market and watch your equity grow. Maintain your home and do necessary updates that you enjoy over time.

I hope you enjoyed our Simplified Market Update!  We strive to keep you  informed and aim to elevate your life through smart real estate decisions.

Kindly,

Simplified Market Update – February 2020 for Kitchener-Waterloo – Fewer Home Sold and Not Enough Homes for Buyers


By Cindy-lou Schmidt

So what was the theme for January 2020? It was a tough one for buyers and a little misleading when you see that sales have been on the decline for three months. But why are they on the decline? It’s because there at not enough homes on the market to fulfill buyer need here in Waterloo Region1

Substantially low inventory levels and a continual attraction of home buyers from outside of our Region is feeding the rising prices and it doesn’t look like it will slow down as we head into the heat of spring market.

Watch my Simplified Market Update for February 2020 to see how things could look for you as a buyer, seller and homeowner!

NUMBER OF SALES: 

KITCHENER-WATERLOO, ON (Jan 6, 2020) ––There were 5,925 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® in 2019, an increase of 1.6 per cent compared to 2018. Contrasted to past years, 2019’s annual sales were 2.3 per cent below the previous 5-year average, and 3 per cent above the previous 10-year average.  

On a monthly basis, sales dipped 8.2 percent compared to last year, with 281 home sales in the month of January. It was also 3.6% below the 10 year average and 3.8 % below the 5 year average.

Total residential sales in January included 153 detached homes (down 19 per cent), and 39 condominium units (up 18.2 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 21 semi-detached homes (on par) and 68 freehold townhouses (up 7.9 per cent).

The average sale price of all residential properties sold in January increased 15.7 per cent to $561,029 compared to the same month last year, while detached homes sold for an average price of $670,944 an increase of 18.8 per cent. During this same period, the average sale price for an apartment-style condominium was 382,636 for an increase of 26.1 per cent. Townhomes and semis sold for an average of $439,765 (up 20.3 per cent) and $484,190 (up 18.7 per cent) respectively.

The median price of all residential properties sold in January increased 17.3 per cent to $536,000 and the median price of a detached home during the same period increased 22.6 per cent to $650,000.

REALTORS® listed 464 residential properties in KW and area last month, a drop of 21.1 per cent compared to January of 2019, and a decrease of 35.4 per cent in comparison to the previous ten-year average for January. The total number of homes available for sale in active status at the end of January was 392, a decrease of 38.7 per cent compared to January of last year, and 63.7 per cent below the previous ten-year average of 1,080 listings for January. The number of Months Supply (also known as absorption rate) in January was just 0.8 months, 38.5 per cent below the same period last year. The previous ten-year average supply of homes for January was 2.32 months, however, in the past 5 years the average supply for January was 1.96 months.

The average days to sell in January was 22 days, compared to 27 days in January 2019.

MY TIPS:

  1. Sellers: Start planning for Spring Market 2020. Meet with your agent now to maximize the sale of one of your biggest assets.
  2. Buyers: Want to own, upsize or downsize? Be proactive. Rising prices and stats show you’re paying more over time for the same thing by waiting. Imagine if you bought last year. How would you feel now?
  3. Homeowners: Enjoy your asset and think about home maintenance to keep your home in great condition.

I hope you enjoyed our Simplified Market Update!  We strive to keep you  informed and aim to elevate your life through smart real estate decisions.

Kindly,

Simplified Market Update – January 2020 for Kitchener-Waterloo – Sales dip in December, while prices continue to escalate year over year


By Cindy-lou Schmidt

It was a steadfast year for home sales in KW with single detached homes taking the lead on the most popular purchases by home buyers, while yes, prices continued to rise overall for all styles of homes for the year.

Substantially low inventory levels and a continual attraction of home buyers from outside of our Region is fueling continuing rising prices despite the number of homes sold slowing down in December.

Watch my first video of 2020 below for insight of what this means and insight into how things could look for you as a buyer, seller and homeowners!

NUMBER OF SALES: 

KITCHENER-WATERLOO, ON (Jan 6, 2020) ––There were 5,925 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® in 2019, an increase of 1.6 per cent compared to 2018. Contrasted to past years, 2019’s annual sales were 2.3 per cent below the previous 5-year average, and 3 per cent above the previous 10-year average.  

On a monthly basis, sales dipped 9 percent compared to last year, with 244 home sales in the month of December.  

Total residential sales in 2019 included 3,590 detached (up 5.9 per cent), and 648 condominium units (down 7.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 421 semi-detached homes (down 0.7 per cent) and 1,266 freehold townhouses (down 3.7 per cent).    

The average sale price of all residential properties sold in 2019 increased 9.3 per cent to $527,718 compared to 2018. Detached homes sold for an average price of $614,743 an increase of 7.1 per cent compared to 2018. During this same period, the average sale price for an apartment style condominium was 332,409 for an increase of 9.6 per cent. Townhomes and semis sold for an average of $409,979 (up 10 per cent) and $439,844 (up 11 per cent) respectively.  

The median price of all residential properties sold last year increased 10.1 per cent to $490,000 and the median price of a detached home during the same period increased 8.6 per cent to $570,000. 

The number of months of inventory averaged 1.5 throughout the year, hitting its highest point in May when there was 2.1 months of supply, and ending the year at 0.7 (3-4 months supply is historically normal for Waterloo region). The average days to sell in 2019 was 23 days, compared to 24 days in 2018 and a previous 10-year average of 38 days.   

Dollar volume of all residential real estate sold last year increased 10.9 per cent to $3.1 Billion compared with 2018.  

While the majority of residential MLS® System activity is properties for sale, REALTORS® are increasingly representing landlords and tenants. Last year 733 residential leases occurred through KWAR’s MLS® System, which is on par with last year and, 2.5 times as many as just four years ago.  

  • 424 homes sold through MLS in KWAR total (DOWN 12.8%)
  • 265 detached homes were sold (DOWN 1.5% )
  • 46 condominium apartments (DOWN 28.1%)
  • 75 freehold townhouses (DOWN 38.5%).
  • 38 semi-detached homes (UP 31%)

MY TIPS:

  1. Sellers: Start planning for Spring Market 2020. Meet with your agent in January.
  2. Buyers: Want to own, upsize or downsize? Be proactive. Rising prices and stats show you’re paying more over time for the same thing by waiting.
  3. Rent is rising….which is why more homes are showing up on the MLS for lease with real estate agents.

I hope you enjoyed our Simplified Market Update!  We strive to keep you  informed and aim to elevate your life through smart real estate decisions.

Kindly,

Simplified Market Update – December 2019 – Low inventory, rising prices, slowing sales


By Cindy-lou Schmidt

Substantially low inventory levels and a continual attraction of home buyers from outside of our Region is fueling continuing rising prices despite the number of homes sold slowing down in December.

Watch for full details for up-to-date market statistics for Kitchener Waterloo or read on below for specifics!

NUMBER OF SALES: 

  • 424 homes sold through MLS in KWAR total (DOWN 12.8%)
  • 265 detached homes were sold (DOWN 1.5% )
  • 46 condominium apartments (DOWN 28.1%)
  • 75 freehold townhouses (DOWN 38.5%).
  • 38 semi-detached homes (UP 31%)

AVERAGE SALES PRICE SUMMARY:

The average sale price of all residential properties sold UP 18.7% to $566,866.

Broken down by style of home:

  • Detached homes sold for an average price of $660,071 (UP 14.2%)
  • Apartment style condominiums increased by $342,561 (UP 13%).
  • Townhomes sold for an average of $443,633(UP 22.4%)
  • Semis sold for an average of $431,638 (UP 3.5%)

HOMES LISTED ON MARKET:

Realtors listed 432 residential properties in K-W and area last month, a 27.9% decrease

  • 17.5% decrease compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totaled 553, a decrease of 34% and well below the previous ten-year average of 1,252 listings for the month
  • The average days it took to sell a home was 27 days vs. 28 days

MY TIPS:

  1. Sellers: Start planning for Spring Market 2020
  2. Buyers: Want to own, upsize or downsize? Be proactive. Rising prices and stats show you’re paying more over time for the same thing by waiting.

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions for wealth and wellness.

Kindly,

Simplified Market Update – November 2019 – Low inventory, high prices


By Cindy-lou Schmidt

Low inventory levels are leading to home prices continuing to rise across the board!

Watch for full details for up-to-date market statistics for Kitchener Waterloo  or read on below for specifics!

NUMBER OF SALES:  October 2019 compared to October 2018

  • 538 homes sold through MLS in KWAR total (up 4.1%)
  • 334 detached homes were sold (up 11.3%% )
  • 65 condominium apartments (up 1.6%)
  • 108 freehold townhouses (up down 6.1%).
  • 31 semi-detached homes (down 18.4%)

AVERAGE SALES PRICE SUMMARY: October 2019 compared to October

The average sale price of all residential properties sold increased 9.1% to $533,288.

Broken down by style of home:

  • Detached homes sold for an average price of $610,840(up 6.2%)
  • Apartment style condominiums increased by $333,895 up 6.7%).
  • Townhomes sold for an average of $434,035 (up 11.2%)
  • Semis sold for an average of $461,590 (up 14.3%)

HOMES LISTED ON MARKET: October 2019 compared to October 2018

Realtors listed 670 residential properties in K-W and area last month, a 12.4% decrease

  • 3.3% decrease compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totaled 691, a decrease of 36.5% and well below the previous ten-year average of 1,412 listings for the month
  • The average days it took to sell a home was 22 days vs. 25 days

MY TIPS:

  1. Use a local agent that understands strategy in a competitive market
  2. If you want to sell, take advantage of this continuing low inventory market.

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions for wealth and wellness.

Kindly,

Simplified Market Update – October 2019 – Second strongest September sales


By Cindy-lou Schmidt

I definitely felt the heat with the homes I listed for my sellers last month and it was a good thing!

This September ended up being the second strongest record of September sales on records with this being on the second time this month has seen the number of units sold over 500.

Watch for full details for up-to-date market statistics for Kitchener Waterloo   or read on below for specifics!

NUMBER OF SALES:  September 2019 compared to September 2018

  • 526 homes sold through MLS in KWAR total (up 17.7%)
  • 330 detached homes were sold (up 20.4%% )
  • 38 condominium apartments (down 24%)
  • 125 freehold townhouses (up 34.4%).
  • 33 semi-detached homes (up 10%)

AVERAGE SALES PRICE SUMMARY: September 2019 compared to September 2018

The average sale price of all residential properties sold increased 10.2% to $541,850.

Broken down by style of home:

  • Detached homes sold for an average price of $612,643 (up 7.1%)
  • Apartment style condominiums increased by $335,110 up 3%).
  • Townhomes sold for an average of $439,522 (up 18.9%)
  • Semis sold for an average of $459,588 (up 18.9%)

HOMES LISTED ON MARKET: August 2019 compared to August 2018

Realtors listed 811 residential properties in K-W and area last month, a 2.1% decrease

  •  5.2% increase compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totaled 775, a decrease of 21.7% and well below the previous ten-year average of 1,458 listings for the month
  • The average days it took to sell a home in September was 22 days vs. 25 days.

MY TIPS:

  1. Use a local agent that understands strategy in a competitive market
  2. If you have a townhome you want to sell, take advantage of this continuing townhome-hungry market.

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions for wealth and wellness.

Kindly,

Simplified Market Update – September 2019 – Sales ease for sunny August


By Cindy-lou Schmidt

Our beautiful Canadian summer is coming to an end and it did not go unnoticed. The number of homes sold last month declined, but the sales prices continue to rise.

In this Simplified Market Update for September 2019, find out which style of home continued to rise in the numbers sold while the others dropped, and if you can still expect opportunities for multiple offers on the sale of your home– or when buying!

Watch for full details for up-to-date market statistics for Kitchener Waterloo   or read on below for specifics!

NUMBER OF SALES:  August 2019 compared to August 2018

  • 267 detached homes were sold (down 11.4% )
  • 56 condominium apartments (down 13.8%)
  • 97 freehold townhouses (down 4.9%).
  • 39 semi-detached homes (up 11.4%)

AVERAGE SALES PRICE SUMMARY: August 2019 compared to August 2018

The average sale price of all residential properties sold increased  6.4% to $524,482.

Broken down by style of home:

  • Detached homes sold for an average price of $615,568 (up 5.4%)
  • Apartment style condominiums increased by $324,778 (down 3.1%).
  • Townhomes sold for an average of $420,239 (up 18.3%)
  • Semis sold for an average of $441,802 (up 10.2%)

HOMES LISTED ON MARKET: August 2019 compared to August 2018

Realtors listed 574 residential properties in K-W and area last month, a 12.8% increase

  •  13% decrease compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totaled 734, a decrease of 17.3% and well below the previous ten-year average of 1,426 listings for the month
  • The average days it took to sell a home in June was 26 days vs. 28 days.

MY TIPS:

  1. Price well if under $600k to incite multiple offers
  2. Price well if over $600k to avoid sitting on the market too long
  3. If you have a townhome you want to sell, take advantage of this townhome-hungry market.

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions for wealth and wellness.

Kindly,

Simplified Market Update – August 2019 – Sales continue to heat up


By Cindy-lou Schmidt

Did the summer vacation months cause real estate activity to dip? I think not!

In this Simplified Market Update for August 2019, we see a big number show up for townhomes and average sale prices rise yet again! Watch for full details for up-to-date market statistics for Kitchener Waterloo during the month of July.  Or read on below for specifics!

NUMBER OF SALES:  July 2019 compared to July 2018

  • 322 detached homes were sold (up 16.4% )
  • 62 condominium apartments (down 6.1%)
  • 148 freehold townhouses (up 45.1%).
  • 42 semi-detached homes (down 22.2%)

AVERAGE SALES PRICE SUMMARY: July 2019 compared to July 2018

The average sale price of all residential properties sold increased 9.3% to $521,101

Broken down by style of home:

  • Detached homes sold for an average price of $613,244 (up 5.4%)
  • Apartment style condominiums increased by $339,137 (up 15.9%).
  • Townhomes sold for an average of $414,062 (up 17.0%)
  • Semis sold for an average of $434,136 (up 11.9%)

HOMES LISTED ON MARKET: July 2019 compared to July 2018

Realtors listed 844 residential properties in K-W and area last month, a 12.8% increase

  • 10.4% increase compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totaled 863, a decrease of 8.7 per cent compared to July of last year, and well below the previous ten-year average of 1467 listings for July.
  • The average days it took to sell a home in June was 22 days equal to July 2018.

———————-

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions and build lifelong wealth.

Kindly,

Simplified Market Update – July 2019 – Sales continue up over last year


By Cindy-lou Schmidt

Sales are up like the temperatures! Townhomes lead the way in popularity and sale price, while condos take a dip.

NUMBER OF SALES:  June 2019 compared to June 2018

  • 404 detached homes were sold (up 8.9% )
  • 50 condominium apartment (down 28.6%)
  • 159 freehold townhouses (up 27.2%).
  • 45 semi-detached homes (up 15.4%)

AVERAGE SALES PRICE SUMMARY: June 2019 compared to June 2018

The average sale price of all residential properties sold increased 8.9% to $533,619 compared to June 2018

Broken down by style of home:

  • Detached homes sold for an average price of $618,186 (up 7.9%)
  • Apartment style condominiums increased by $332,716 (up 4.4%).
  • Townhomes sold for an average of $411,126(up 10.7%)
  • Semis sold for an average of $430,427 (up 9.9%)

HOMES LISTED ON MARKET: June 2019 compared to June 2018

Realtors listed 888 residential properties in K-W and area last month, a 4.3% decrease

  • 0.5% increase compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totalled 890, a decrease of 10.8 per cent compared to June of last year, and well below the previous ten-year average of 1,581 listings for June.
  • The average days it took to sell a home in June was 20 days, compared to 22 days in June 2018.

———————-

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions that will benefit you for years to come. 

Kindly,