The Riz Team Blog

KITCHENER-WATERLOO, ON (May 3, 2019) –– There were 623 residential sales in April through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), an increase of 1.1 per cent versus the same month last year, and up 2.2 per cent compared to the previous ten-year average for April.

Total residential sales in April included 394 detached (up 15.2 per cent), and 75 condominium apartments (up 1.4 per cent). Sales also included 113 townhouses (down 28.9 per cent) and 41 semi-detached homes (no change).

“While sales of detached homes did jump a fair bit compared to the same month last year, they were actually on par with the previous 10-year average for April,” says Brian Santos, KWAR President. “

The average sale price of all residential properties sold in April increased by 10.9 per cent to $529,800 compared to April 2018. Detached homes sold for an average price of $611,803 an increase of 7.6 per cent compared to April of last year. During this same period, the average sale price for an apartment style condominium was $339,426 for an increase of 14.3 per cent. Townhomes and semis sold for an average of $405,013 (up 5.3 per cent) and $433,949 (up 7.7 per cent) respectively.

Average sale prices hit an all-time high in April notes Santos. “These are the highest sale prices we’ve ever posted in a single month. It’s only the third time the overall residential sale price has exceeded half a million, and for the first time, the average price of a detached home climbed over the 600-thousand-dollar mark.

Likewise, median prices reached an all-time high in April. The median price of all residential properties sold last month increased 11.4 per cent to $490,000, and the median price of a detached home during the same period increased by 11.1 per cent to $568,500

REALTORS® listed 913 residential properties in K-W and area last month, a decrease of 6.9 per cent compared to April of 2018, and a decrease of 1.6% in comparison to the previous ten-year average for the month of April. The total number of homes available for sale in active status at the end of April totalled 884, a decrease of 6.1 per cent compared to April of last year, but still well below the previous ten-year average of 1,485 listings for April. Months Supply of Homes for sale stood at 1.8 month in April a decrease of 5.3 per cent compared to last year.

“It’s still very much a seller’s market for anyone who is looking for a home under six hundred thousand,” says Santos. “In these challenging market conditions, consumers should seek the expert advice of a local REALTOR®. There is no single Ontario real estate market, and even within the local market there can be significant differences between property types and neighbourhoods.”

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.”

KITCHENER‐WATERLOO, ON (Mar 5, 2019) –– There were 343 residential sales in February through the Multiple Listing System (MLS® System) of the Kitchener‐Waterloo Association of REALTORS® (KWAR), a decrease of 8.3 per cent compared to February 2018. “The series of winter storms in February not only kept buyers indoors and off the roads, but also away from open houses and viewings,” says Brian Santos, KWAR President. “This was the lowest amount of sales we’ve seen in February in a long time, but it really isn’t surprising given the wild weather we experienced last month.”

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KITCHENER-WATERLOO, ON (Feb 4, 2019) –– There were 307 residential sales in January through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), an increase of 14.6 per cent
compared to January 2018.
“January was surprisingly busy with an above average number of home sales,” says Brian Santos, KWAR President.
“The number of units sold last month were up nearly fifteen per cent compared to the previous ten-year average for
January.”

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KITCHENER WATERLOO HOME SALES RETURN TO MORE TYPICAL LEVELS IN 2018
Home Sales Dip in December, While Prices Increase

KITCHENER-WATERLOO, ON (Jan 4, 2019) –– 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.

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NOVEMBER HOME SALES SECOND BEST ON RECORD

KITCHENER-WATERLOO, ON (December 5, 2018) ––Last month a total of 483 residential properties sold in
Kitchener-Waterloo and area through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo
Association of REALTORS® (KWAR). Home sales were up 14.2 per cent in November 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.

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KITCHENER-WATERLOO, ON (November 5, 2018) ––REALTORS® sold 514 homes through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in October, an increase of
7.8 per cent compared to October of last year.

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KITCHENER-WATERLOO, ON (October 5, 2018) ––REALTORS® sold 448 homes through the Multiple Listing System (MLS®
System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in September, a decrease of 4.7 per cent compared
to September of last year.

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KITCHENER-WATERLOO, ON (September 6, 2018) ––

August home sales through the Multiple Listing System (MLS®System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 0.8 per cent compared to last month and up 4.8 per cent compared to August of last year. A total of 505 residential properties sold in August compared to 482 the same time last year.

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KITCHENER-WATERLOO, ON (August 2, 2018) ––

July home sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 16.8 per cent compared to last month and down 10.6 per cent compared to July of last year.  A total of 504 residential properties sold in July compared to 564 in the same month last year.

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