Simplified Market Update – May 2019 – Sales up over last year


By Cindy-lou Schmidt

April saw average prices increase across the board for all styles of homes and one style of home breaking a record!

A highly competitive market, particularly under the $600,000 price range has buyers and sellers seeing lots of activity with the average sales price rising 10.9% over the same time last year.

In April,  the number of homes sold inched up 1.1% as compared to April 2018 to 623 residential sales through the MLS in Kitchener Waterloo, and up 2.2%  from the 10-year average.

Interestingly, while the number of detached homes sold increased up 15.2% from last year, it is on par with the 10-year average which is quite healthy, particularly considering the introduction and restriction placed on mortgage applicants in January 2018 with the stress test.

But what is most notable is that not only were detached homes the biggest mover in April, they also broker a new record, eclipsing the $600,000 mark at an average sales price of $611,803, a 7.6% increase compared to April 2018.

Cindy-lou’s Simplified Market Update

NUMBER OF SALES:  April 2019 compared to April 2018

  • 394 detached homes were sold (up 15.2% )
  • 75 condominium apartment (up 1.4%)
  • 113 freehold townhouses (down 28.9%).
  • 41 semi-detached homes (no change%)

AVERAGE SALES PRICE SUMMARY: April 2019 compared to April 2018

The average sale price of all residential properties sold increased 10.9% to $529,800

Broken down by style of home:

  • Detached homes sold for an average price of $611,803 (up 7.6%)
  • Apartment style condominiums increased by $339,426 (up 14.3%).
  • Townhomes sold for an average of $405,013 (up 5.3%)
  • Semis sold for an average of $433,949 (up 7.7%)

HOMES LISTED ON MARKET: April 2019 compared to April 2018

Realtors listed 913 residential properties in K-W and area last month, a 6.98% decrease

  • 1.6% decrease compared to the previous ten-year average
  • Total number of homes available for sale in active status at the end of March totalled  884, an decrease of 601 %, but still well below the previous ten-year average of 1485 listings.

WHAT’S NEXT?

Sellers: Rising prices and broken records are a sign that this spring is a great time to sell so don’t wait if you know you’ll want to make a move this year.

Buyers: Waterloo Region  is going strong on the real estate front. Be proactive about your financing plan and partner with a market savvy real estate agent who understands what you want and need and how they can best help that happen for you.

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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,

Full Official Full KWAR Media Release here.

Simplified Market Update – April 2019 – A slide and a climb


By Cindy-lou Schmidt

A highly competitive market, particularly under the $500,000 price range appears to have had an impact on those buying semi-detached, townhomes and condos which were all down in sold numbers.

In March, we saw the number of homes sold slide with 511 residential sales.  There was a  5.7% decrease compared to March 2018 and a 7% decrease compared to the  the previous ten-year average for March.

Condos and townhomes are down 11-15%, while semi-detached homes took a big hit with a 37.5% drop in sales.

However, those with larger budgets have continued to push the sold prices up on single detached properties with a 3.2% increase. 

 

Cindy-lou’s Simplified Market Update

NUMBER OF SALES:  March 2019 compared to March 2018

  • 325 detached homes were sold in March (up 3.2% )
  • 45 condominium units (down 11.8%  which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.)
  • 116 freehold townhouses (down 14.7%).
  • 25 semi-detached homes (down 37.5%)

AVERAGE SALES PRICE SUMMARY: March 2019 compared to March 2018

The average sale price of all residential properties sold increased 3.4% to $505,855.

Broken down by style of home:

  • Detached homes sold for an average price of $585,668 (up 0.8%)
  • Apartment style condominiums increased by $320,857 (up 7.5 per cent).
  • Townhomes sold for an average of $372,003 (down 1.0%)
  • Semis sold for an average of $422,360 (up 6.4%)

HOMES LISTED ON MARKET: March 2019 compared to March 2018

Realtors listed 797 residential properties in K-W and area last month, a 4.8% decrease

  • 4.5% decrease compared to the previous ten-year average of 1296 listings for March
  • Total number of homes available for sale in active status at the end of March totalled  819, an increase of 5.4 %, but still well below the previous ten-year average of 1,371 listings for March.

WHAT’S NEXT?

Sellers: Demand for homes is keeping the price rising but at much more reasonable rates of growth. Don’t get complacent – clean, stage, repair, choose the right REALTOR® to partner with.

This is the third month in which home prices are rising between the traditional or “normal” 3-5% rate of price growth for Waterloo Region.

Buyers: Waterloo Region remains a desirable place to live! Be an active and purposeful buyer on homes you are genuinely interested in especially if you’re looking for a home or investment under $500,000.

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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,

Full Official Full KWAR Media Release here.

Simplified Market Update – March 2019 – A chill in the market


By Cindy-lou Schmidt

January may have been frigid but February was a polar bear’s paradise! Snow storms and extreme negative temperatures did put a damper on the market with fewer homes sold as compared to the same time last year.

Home sales were down 8.3 per cent in February with 343 homes sold compared to the same month last year.

DAYS ON MARKET:

The average days it took to sell a home in January was 25 days, which is 4 days longer than the time it took to sell in February 2018.

Cindy-lou’s Simplified Market Update

NUMBER OF SALES:

178 detached homes were sold in February (down 14.8 per cent compared to February 2018). Of those sold:

  • 105 condominium units (down 11 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.).
  • 23 semi-detached homes (down 8 per cent)
  • 36 freehold townhouses (up 112 per cent).

AVERAGE SALES PRICE SUMMARY:

The average sale price of all residential properties sold in February increased 3.0 per cent to $490,668 compared to February 2018. Broken down by style of home:

  • Detached homes sold for an average price of $597,965  an increase of 3.9 per cent
  •  Apartment style condominiums increased by $319,536 on average (increase of 20.5 per cent).
  • Townhomes sold for an average of $395,331 (up 2.6 per cent)
  • Semis sold for an average of $448,123 (up 14.4 per cent)

HOMES LISTED ON MARKET

Realtors listed 562 residential homes in K-W and areas last month, a 1.1 per cent increase compared to February 2018. Trends:

  • 785 active listings
  • 9.0 per cent more than February of last year, but still well below the previous ten-year average of 1296 listings for February

WHAT’S NEXT?

Sellers: Demand for homes is keeping the price rising but at much more reasonable rates of growth.

This is the second month in which home prices are rising between the traditional or “normal” 3-4 per cent rate of growth for Waterloo Region.

Buyers: Prices are not rising as quickly as before; however Waterloo Region remains a desirable place to be sure to be an active and purposeful buyer on homes you are genuinely interested in especially if you’re looking for a home or investment under $450,000.

Prices look to be stabilizing or increasing at a more reasonable rate.

Apartment-style condos and semi-detached homes are taking the lead in sold prices.

This really reflects the more affordable nature of these styles of homes as well as desirability for affordable condo living and opportunity for new construction or nearly new construction homes.

It also looks like people who were holding out for a single-detached home are more seriously considering a freehold townhome.

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

Kindly,

Full Official Full KWAR Media Release here.

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.

DAYS ON MARKET:

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

NUMBER OF SALES:

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).

AVERAGE SALES PRICE SUMMARY:

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)

HOMES LISTED ON MARKET

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

WHAT’S NEXT?

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.

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

Kindly,

Full Official Full KWAR Media Release here.

Simplified Market Update – January 2019 – Typical trends make a come back


By Cindy-lou Schmidt

There were 5,823 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® in 2018, a decline of 11.1 per cent compared to 2017.

With 263 transactions taking place last month, December’s home sales were down 13.2 per cent from this time last year and slightly behind the previous 10-year average of 268 sales for the month of December.

The combination of rising interest rates and the mortgage stress test have continued to impact our market here in Waterloo Region. As a result of the changes over the last year and a half, December showed evidence of a trend to typical sales numbers as seen in 2016 and previous.

NUMBER OF HOMES SALES SUMMARY:

Total residential sales in 2018 included 3,355 detached (down 16.2 per cent), and 1,553 condominium units (up 6.4 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 417 semi-detached homes (down 23.6 per cent) and 431 freehold townhouses (down 7.7 per cent).

 

Cindy-lou’s Simplified Market Update

AVERAGE SALES PRICE SUMMARY for 2018:

The average sale price of all residential properties sold in 2018 increased 3.4 per cent to $483,537 compared to 2017. Detached homes sold for an average price of $575,412, an increase of 4.8 per cent compared to 2017. During this same period, the average sale price for an apartment style condominium was $304,676 for an increase of 12 per cent. Townhomes and semis sold for an average of $373,307 (up 5.5 per cent) and $396,391 (up 4.7 per cent) respectively.

NUMBER OF SALES:

265 detached homes were sold in November (up 9.5 per cent compared to November 2017). Of those sold:

  • 152 condominium units (up 52 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.).
  • 27 semi-detached homes (down 46 per cent)
  • 31 freehold townhouses (up 14.8 per cent).

WHAT’S NEXT?

Sellers: Be very attentive to the price you plan to list at. What matters is what a home sells for, not what it lists for. So don’t set yourself up to chase a market in which your price is set for a 2018-2018 era when it needs to acclimatize to the current market value.

Buyers: Don’t let the declining number of homes being sold make you feel that prices are going to drop and waiting for this drop. Prices will likely continue to appreciate in a healthy manner because of the desirability of Waterloo Region.

Additionally, Realtors are beginning to handle more lease contracts between landlords and tenants indicating an increase in the trend in higher rental costs.

 


I hope you enjoyed my Simplified Market Update. I strive to keep my clients and readers informed and empowered to live and become Real Estate Champions. 

Kindly,

Full Official Full KWAR Media Release here.

Simplified Market Update – December 2018 – Temperatures cool, homes sales rise


By Cindy-lou Schmidt

While temperatures cooled in October and November, last month ended up being another hot month in real estate in Kitchener-Waterloo and area.

Home sales were up 14.2 per cent in November with 483 homes sold compared to the same month last year, and up 19 per cent compared to the previous 10-year November average of 406 sales, making it the second-best November on record.

Last month I discussed the effect of rising mortgage rates on getting buyers to act before another squeeze on their buying power materializes. In December 2018 Realtors and Mortgage agents cautioned buyers that their buying power would reduced by up to 20% come January 2018 and while some acted, others were cautious and many saw their choice of home style narrow due to the change in budget.

This year, buyers are taking rising interest rates and financing more seriously and  this trend along with others shows in the numbers:

Cindy-lou’s Simplified Market Update

NUMBER OF SALES:

265 detached homes were sold in November (up 9.5 per cent compared to November 2017). Of those sold:

  • 152 condominium units (up 52 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.).
  • 27 semi-detached homes (down 46 per cent)
  • 31 freehold townhouses (up 14.8 per cent).

AVERAGE SALES PRICE SUMMARY:

The average sale price of all residential properties sold  in  November  increased 7.6 per cent to $477,526 compared November 2017. Broken down by style of home:

  • Detached homes sold for an average price of $580,551 an increase of 12.8 per cent compared to November of last year.
  •  Apartment style condominiums increased by $305,334 on average (increase of 10 per cent).
  • Townhomes sold for an average of $361,177 (down 2 per cent)
  • Semis sold for an average of $416,878 (up 10.7 per cent)

MEDIAN PRICE:

The middle point that divides all sales prices into two equal parts. Comparing November 2018 to November 2017 median stats:

  • All residential properties – $443,800  (up 6.3 per cent)
  • Detached homes – $520,000 (up 9.5 per cent)

HOMES ARE ON MARKET

Realtors listed 597 residential homes in K-W and areas last month, a 1.1 per cent increase compared to November 2017. Trends:

  • homes listed were 8.2 per cent above the 10-year historical average of 505
  • active listings at the end of November totaled 888 (12.8 per cent lower and 449 units fewer than the 1337 homes listed in November 2017.

WHAT’S NEXT?

Sellers: Prices are naturally rising due to continued demand, particularly for single-detached homes. Waterloo Region is a great place to live and with more eyes on our market from prospective buyers in an outside of our area, we continue to see growth. I expect another very active spring market in 2019. And if your home is listed on the market now, serious buyers are still active and ready to buy before year’s end.

Buyers: Sales prices that are trending up mean that more buyers entering the market are taking advantage of resale and new build townhomes and condominiums. Move up buyers are still aiming to find their right-size home and competing for single-detached properties.

If I were a serious buyer, I would be actively considering homes available on market for the rest of December and take time to view homes if they looked viable. If it’s in the budget, I recommend you contact your agent to explore new-build options.

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

Kindly,

Full Official Full KWAR Media Release here.

Simplified Market Update – November 2018 – Higher than normal sales activity


By Cindy-lou Schmidt

October saw higher than normal sales activity and buyers and sellers alike were enjoying the boom.

Rising interest rates lead to buyers getting off the sidelines, ready to buy and sellers wanting to sell before the end of 2018 were ready to list. In fact, 760 homes were listed last month in the Kitchener Waterloo Association of Realtors Board. This was 14% higher than October 2017, and 12.7 higher than the 10 year average for homes listed during October.  Buyers rejoice!

Cindy-lou’s Simplified Market  Update

While Year-to-Date sales for 2018 are 12.9% lower than 2017 at this time, we are still enjoying a very strong market here in Kitchener Waterloo.

The average sale price of all residential properties sold increased 7.7% to $489,725 compared to the same month a year ago, with apartment style condominiums continuing to make a huge price gain trend of 24.1% ($310,215), followed by semi-detached homes up 13.8%, ($403,750) then townhomes up 10.9%, and finally detached homes up 6.2% ($576,731).

As for the styles of homes that are trending in sales, we saw 47 freehold townhomes fly off the shelves with an 23.4% increase compared to the number of townhomes sold last October. This was closely fllowed by  128 condominiums of any style up 19.6%, chased by 47 freehold townhomes, up 18.2%, and finally 297 detached homes were sold up 4.6% as compared to last October.

So, let’s cut to the chase. What does this mean?

It means that Buyers are seeing an influx of homes coming to market this October,  and the rising interest rates are getting buyers off the sidelines to act and take advantage of locked in interest rates.  They are also enjoying more choice!

For Sellers, seasonal temperatures remain amiable which always helps home buyers get out for open houses and private showings. Families are also motivated to get in homes before the end of the year and sellers, you too are anticipating a purchase so you’d like to sell and buy sooner rather than later with the interest rate hikes.

All in all, another healthy market here in Kitchener Waterloo. If you’d like more details on this, check out the full Official Full KWAR Media Release here.

 


Thinking about selling?

Book a personal evaluation of your home so you can make an informed decision to net the most money when you list one of your biggest assets for sale. Contact me. The condition of your home, location, and other key factors matter.

Kindly,

Life in the City – Red Circle Coffee


By Cindy-lou Schmidt

 

As is customary in a Realtor’s life, Friday is the beginning of the week! And what better way than to start (or end) the week with a nice treat!

One of my favourite places to stop in at is Red Circle Coffee located in a massive building that houses Catalyst 137, a space in Waterloo Region that brings together everything an Internet of Things (IoT), food, ice cream and more.

I was never a big coffee fan until Red Circle Coffee. And I think the secret lies in three main factors:

1) The coffee is part of a “full circle” cycle, roasted and sourced by their parent company Monigram Coffee Roasters, and it’s exceptionally done to connect the source and people through relationships.

2) I’ve heard great things about Monica and Graham who established Monigram Coffee in Cambridge and now Red Circle Coffee here in Kitchener. So it doesn’t surprise me in the least that their customer service is something to remark about. Professional baristas who smile, remember you and of course show great pride in their work and their craft. Top down influence is clear here.

3. Gluten free and Vegan options. The responsiveness to my Instagram request and in-house baking make put the icing on the cake for me. I come for the coffee but I’ll stay for the treats!

 

If you ever want to stop in for a chat with a friend or a quiet moment in your day, do not hesitate to stop in here. It’s definitely a cafe destination worth it’s cup in beans!

Check out one of my most recent visits!

To learn more about Red Circle Coffee visit their website!

Kindly,

 

Simplified Market Update – October 2018 – Sales Numbers Down, Prices Up


By Cindy-lou Schmidt

September saw the continuing impact of mortgage rules and housing regulation affect the market as affordability for first-time home buyers continues to be a challenge. Meanwhile, average home prices continue to rise and certain home styles are seeing big changes. Thinking that rising prices means it’s not a good time to invest? Think again!

The average sale price of all residential properties sold increased 10% to $492,398 compared to the same month a year ago, with condominiums and making a huge price gain of 24.1% ($325,378), followed by detached homes increasing by 11.4%, townhomes up 4.7% ($377,442), and semis up 4.1% ($386,670)

There is the continuing trend of fewer homes being sold, but prices continuing to climb reflect the decreased affordability but continuing interest in living in Waterloo Region.

Residential sales in September included 270 detached (down 6.3 per cent compared to September 2017), and 110 condominium units (up 7.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 30 semi-detached homes (down 18.9 per cent) and 30 freehold townhouses (down
18.9 per cent).

Great investment opportunities and selling opportunities are arising for those who own condominiums and for those looking to benefit from the trend in rising residential lease rates.

Cindy-lou’s Simplified Market  Update

 


Official Full KWAR Media Release here

 


Thinking about selling?

Book a personal evaluation of your home so you can make an informed decision to net the most money when you list one of your biggest assets for sale. Contact me . The condition of your home, location, and other key factors matter.

Kindly,

My Life as a Realtor Part 2


By Cindy-lou Schmidt

This week I’m covering the rest of the questions about what life is like as a Real Estate Agent.

I’m going to talk about:

1.  The best part of my job

2. The worst part of my job

3. The best thing that I’ve encountered

4. The weirdest things I’ve encountered

5. A meaningful lesson that I’ve learned

https://youtu.be/ZyT4Z07oPEA

Watch for the full details! And in case you’re thinking about getting into real estate yourself, be sure to message me and ask me about our Career in Real Estate Seminar! It’s a great place to connect and learn more about the process and if it’s right for you.

Kindly,