Choosing a neighbourhood based on the school

Every year, families move from one area of Kitchener-Waterloo to the other, or move in or out of the Region. One thing that holds true for many parents is ensuring that their children will have the opportunity to benefit from quality education.

Fortunately, in Waterloo Region, we have several schools that rank well according to the Fraser Institutes annual assessment which uses objective, publicly-available data to compile the rankings.

Waterloo’s Top elementary schools include Laurelwood Public School and St. Nicholas (8.8), and Millen Woods Public School  (8.3)

If you live in Kitchener, the top elementary schools include St. Teresa (9.5), Lackner Woods and St. Mark (8.2).

For students attending high school In Kitchener, Resurrection  (7.5), Kitchener Waterloo Collegiate Institute (6.7), and St. Mary’s (6.6)

For high school students in Waterloo, top ranking schools include Waterloo Collegiate Institute (8.2), Sir John A. Macdonald (8.1), and St. David (7.3).

We’re very fortunate to have many great schools to choose from in Kitchener-Waterloo. For more details about other school rankings or to compare schools, click here.

Navigating the real estate rise and fall

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.

Strong buyer demand endures

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.

Record sales and over 1000 new listings

This is the second consecutive month unit sales have hit an all-time high.

It’s also the first time in two years that the number of new listings put on the market has exceeded the 1,000 unit mark.

REALTORS® listed 1,271 residential properties in K-W and area this May, a 38.6 per cent increase compared to May of 2016, and a 29 per cent increase compared to the previous month.

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The increase in homes available for purchase means that there are more homes on the market in Waterloo Region and area for Buyers to choose from. At the same time, competition remains strong as out-of-area Buyers continue to be attracted by the relatively inexpensive inventory. The average sale price of a single-detached home in this area at $594,047, just over half the cost of the average single-detached home in Toronto.

KWAR May report stats

While more homes were listed in May, it continues to be a seller’s market in Waterloo region and across the Greater Golden Horseshoe (GGH) as inventories remain tight at near or less than one month of inventory.

For more on the official report on April’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.