The Riz Team Blog

Number of Home Sales Slide in March

KITCHENER-WATERLOO, ON (April 3, 2019) –– There were 511 residential sales in March through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), a decrease of 5.7 per cent versus the same month last year, and down 7 per cent compared to the previous ten-year average for March.

“The activity on detached homes continues to be strong,” says Brian Santos, KWAR President. “But the average number of sales in March was brought down by fewer semi-detached, townhomes and condos. I think this can be credited to the lack of inventory and options buyers have in those segments of the market.”

Total residential sales in March included 325 detached (up 3.2 per cent), and 45 condominium apartments (down 11.8 per cent). Sales also included 116 townhouses (down 14.7 per cent) and 25 semi-detached homes (down 37.5 per cent).

The average sale price of all residential properties sold in March increased 3.4 per cent to $505,855 compared to March 2018.  Detached homes sold for an average price of $585,668 an increase of 0.8 per cent compared to March of last year. During this same period, the average sale price for an apartment style condominium was $320,857 for an increase of 7.5 per cent. Townhomes and semis sold for an average of $372,003 (down 1 per cent) and $422,360 (up 6.4 per cent) respectively.

The median price of all residential properties sold last month increased 3.9 per cent to $474,900, and the median price of a detached home during the same period decreased by 0.8 per cent to $540,400

“Sale prices across Kitchener-Waterloo and area experienced increases in March,” says Santos. “While pundits are focussing on affordability challenges, this also reflects the greater attribute of livability and how Waterloo Region offers a great quality of life.”

REALTORS® listed 797 residential properties in K-W and area last month, a decrease of 4.8 per cent compared to March of 2018, and a decrease of 4.5% in comparison to the previous ten-year average for the month of March. On the other hand, the total number of homes available for sale in active status at the end of March totalled 819, an increase of 5.4 per cent compared to March of last year, but still well below the previous ten-year average of 1,371 listings for March.

Santos contends restrictions brought on by the B-20 mortgage stress test have pushed buyers into lower price points. “It’s difficult for buyers who are trying to find a house under the $500,000 mark – because demand is strongest in that range.”

🎉🖍Enter Our Kids Colouring Contest to WIN a SKY ZONE PARTY FOR 10!!! 🖍🎉

🍫Easter is one of our favourite holidays because a) chocolate and b) it signals the beginning of spring! To help celebrate, we thought we’d get the kids involved with a colouring contest. Let your kids get creative with their crayons, and they could win a “Sky Zone Party for 10 guests” at Sky Zone Kitchener (150 Gateway Park Dr, Kitchener, ON N2P 2J4)!

🏅To Participate🏅
✔ Print Coloring Page Here: https://goo.gl/7LtmCj
✔ Fill in Name and Age of Artist
✔ Color it in!
✔ Take photo of finished page
✔ Post on Facebook or Instagram & Tag —> The Riz Team

(NewsUSA) – More than ever, homeowners are appreciating the added value – aesthetic and monetary – that hardwood floors bring to a home.”They also offer what can be an overwhelming variety of possibilities and choices,” says Linda Jovanovich of the American Hardwood Information Center, www.hardwoodinfo.com. “Here’s a look at five top flooring trends that will help if you can’t see the wood for the trees.” Made in America “There’s a growing demand for American-produced hardwoods,” says Michael Martin, President and CEO of the National Wood Flooring Association.”It’s part of the general trend toward locally-sourced materials of all kinds in the U.S.”Consumer concerns about sustainability, quality, safety, and environmental factors are more easily addressed when a hardwood is domestically grown and milled. Plus, the U.S. offers an unrivaled range of readily available species suitable for flooring. Stains and Finishes Gray is a classic “neutral” that’s never truly out of fashion. It’s currently one of the most popular colors, ranging from pale smoke to deep charcoal, showing up on hardwood flooring.”Whether light or dark, gray stains bring out any wood’s natural grain and texture,” says New York interior designer Laura Bohn. “Grays are versatile and timeless – quiet and soothing colors that recede into the background without losing personality or becoming faceless. They work in any style décor, yet always look modern.” SpeciesFor several years, the trend was toward characterful woods like hickory, but recently, white oak has moved to the front. Along with abundance, durability, and reasonable cost, white oak offers aesthetic advantages.”It can be stained light, dark, or somewhere in between,” says interior designer Emily Morrow Finkell, CEO of Emily Morrow Home. “Many of the popular gray-brown shades look especially sophisticated applied to white oak. Consumers see and love it in magazines and websites, making it a perfect ‘attainable home upgrade.’” The Wider, The Better “It’s all about wide, wider, widest!” says NWFA’s Michael Martin. “Planks of up to 7 inches in width are considered normal now. Traditional strip flooring still remains popular, but wide-plank is the market leader.”As Melissa Morgan of M Interiors in San Antonio says, “Wider floorboards can make a space look larger and more modern. The floor can be treated like a canvas: ebonized for a sleek, dark look; light-stained for an urban vibe; distressed for a rustic affect – the possibilities are endless.” Popular Patterns “One way to set your home interior apart is by tapping into the trend for herringbone-and- chevron-pattern hardwood floors, which show up increasingly in decorating magazines,” says Morrow Finkell. But as Michael Martin points out, “Since installing herringbone floors is a time-and labor-intensive process, they’re more common in high-end projects than in the average middle-class home.” Still, if you can afford to splurge, these floors are a gorgeous addition to any room.Visit www.hardwoodinfo.com for more about residential design trends and other applications and products using American hardwoods.