The spring market in real estate is always a busy time for buyers and sellers alike. With March’s home sales statistics showing continued strong interest by Buyers in Waterloo Region, more Sellers are considering the benefits of using this market climate to their advantage, as they plan to downsize, or sell investment properties to release equity and potential financial gain.
In fact, a new poll of 3000 Canadian adults conducted by CIBC, finds 41 per cent of Canadian with plans to sell their property are doing so to cash in and make a profit.
It’s definitely a prime time to sell, particularly in light of some signs of cooling happening in areas surrounding Toronto. So while the market is hot now, it won’t last forever. If you’re thinking about moving, why not get the market to work for you?
If you’re wondering just how much the market has added to your home, and how much you might be able to take home after the sale, be sure to speak to a REALTOR® who will be able to help you effectively capture that profit to help you buy your new home, save for the kids’ education, or fund that retirement nest egg.
As construction of the light rail transit system (LRT) continues, Kitchener-Waterloo is expected to continue to thrive economically. In combination with the continued increase of Go-Train frequency between Kitchener and the GTA, along with the healthy tech sector growth, the region will continue to attract buyers looking to find more value for their money arriving from Toronto and area, as well as commuters, and those employed or looking to become involved in K-W’s technology parks and increased business growth.
The RE/MAX 2017 average residential sale price expectation for Kitchener-Waterloo is an eight per cent increase in home prices, increasing to $413,313 for the average residential sales price, up from $382, 687 in 2016. Spring 2017 should also bring increased inventory levels, along with some new developments coming to market. However, 2017 is expected to stay a seller’s market with an expected 8 per cent increase in home prices.
For sellers, these numbers provide even more incentive to ensure you present your home in the best light, to make the most out of the sale of one of your biggest assets. This includes making repairs, maintaining home systems including HVAC, and water lines, as well as keeping your curb appeal in tip-top shape.
If you’re thinking about selling your home and want to maximize your profits, ask us how! We’ll provide you with a free home evaluation and get you started on understanding the value of your home in our current market.