KITCHENER-WATERLOO, ON (February 2, 2017) ––The number of residential sales in January through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) increased 5.8% compared to January 2016 and 22% above the 5-year average for January.
There was a total of 327 residential properties sold last month; including 194 detached homes (down 5.4 percent compared to January 2016), 79 condominium units (up 19.7 percent) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 32 semi-detached homes (up 128.6 percent) and 20 freehold townho
uses (down 9.1 percent).
While demand remained strong in January, the number of active listings was down significantly: There were 367 active listings at the end of January, compared to 1,068 in 2016.
“The continued strong demand combined with a tight supply of listings means that many properties are not on the market for very long,” says James Craig, President of the KWAR. “This has created an extremely competitive buying environment.”
The average days on market in January were significantly shorter than a year ago: 22 days, compared to 47 days, and six days quicker than in December.
The average sales price of all residential properties sold in January was $421,104, a 0.5 percent decline compared to the previous month, and a 19.1 percent increase compared to January 2016.
Reaching a new milestone in December, was the average price of a Detached home sold through the KWAR’s MLS® System which for the first time surpassed the half million mark; a benchmark that was repeated again in January, with the average detached home selling for $501,821, an increase of 22.7 percent compared to the same month a year ago.
In the condominium market the average sale price for an apartment style unit was $237,220 in January, a 2.8 percent decrease compared to the previous month, and a 17.1 increase compared to the same month a year ago. Townhomes and semis sold for an average of $323,946 (up 5.8 percent compared to December) and $353,295 (up 6 percent compared to December) respectively.
President Craig points out that Waterloo region is in high demand. “Getting into the housing market at the moment is not easy, and buyers need all the help they can get. It is more important than ever that you avail yourself of the professional knowledge of a local REALTOR® to guide you through these unique market conditions”
The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.
Have you been grappling with this major decision since the start of this year – Keep my place and live here, or sell it and get way more for my asking price like everyone else around you? What it all comes down to is exactly that – Should I stay or should I go??
Over the last six to eight months prior to the new year of 2017 we have seen an incredible change in the Kitchener-Waterloo Region Real Estate Marketplace with many homes netting far greater values than what they may be actually worth. This is partially due to the lack of inventory levels and the influx of many new buyers from other surrounding areas wanting to get into the Kitchener-Waterloo market.
As mentioned in the KWAR (Kitchener Waterloo Association of Realtor’s) market update for December 2016 it was mentioned:
“2016 was marked by unrelenting demand for homes, in the face of fewer homes being put on the market,” said James Craig, President of the KWAR. There were 8,003 residential listings processed through the KWAR’s MLS® System in 2016, a decrease of 9.7 percent compared to 2015.
“For the past several months we’ve seen the number of months of inventory ranging between a ten-year low of 1 and 2 months,” says Craig. “While this puts sellers in a very strong position, it’s not so easy when those same sellers need to downsize or move-up.”
With this I wanted to clear any misconceptions you may have towards why you should make the decision to SELL your home sooner rather than later, while also keeping in mind the transition of where you will move forward with this if in fact you decide to unlock your equity and make this dream a reality.
This home sold for $155,000 more than the asking price by Riz within 12 hours of listing onto the MLS market.
I have monitored the market place since the start of the year and while in I personally can attest to having a record breaking multiple offer sale of my own in 2016 netting my sellers $155,000 more than the asking price for the above home in Laurelwood, Waterloo, we have since seen some close records being made during the start of this year of 2017 which I will share with you below.
These homes below have been listed on MLS (Multiple Listing Service) and have SOLD within just under 1 week, one being 9 days. In most cases the homes have been showcased by way of open houses or just visits from a vast number of buyers and some of these homes have had 30 – 40 offers presented with multiple offers.
Property 1: Listed on January 18, 2017 and sold in 9 days this Kitchener home sold for 137% over the asking price with numerous offers.
Property 2: This Kitchener Townhome situated in popular Huron Village was listed on January 19, 2017 and sold in 2 days for 110% over the asking price with numerous offers.
Property 3: This Laurelwood, Waterloo single detached home sold within 6 days of listing on January 18, 2017 for 105% over the asking price with many buyer offers.
Property 4: This detached backsplit home nestled in the Maple Hills area of Westmount, Waterloo was listed on January 18, 2017 and sold in multiple offers for 117% over the asking price in just 6 days.
Property 5: This end unit townhome in Laurelwood lasted only 6 days while being offered 40 offers and netting 132% over the asking price after being listed on January 18, 2017.
Property 6: This Eastbridge, Waterloo Semi-Detached home was listed on January 17, 2017 and sold within 7 days at 127% over the asking price in multiple offer bids.
Property 7: This single detached home in sought after Laurentian Hills, Kitchener was listed on January 16, 2017 and sold within 6 days for 112% over the asking price in multiple offers.
In summary, you can see if you are considering selling your home this year, it is imperative that you contact your Real Estate Professional who can guide you with the activity on the current marketplace and get you ready for this fierce and competitive “Seller’s Market.” Of course, as a buyer one must also consider the vast number of opportunities lost within multiple offers with the increased number of buyers looking to purchase and the lack of inventory available, hence my wanting to reach out to anyone considering selling this year in saying, Don’t put it on HOLD…Call RIZ to get it SOLD!!!™
Let’s setup a time to meet together and discuss how I can get you more money for your home with all the buyers I have waiting to purchase homes in various areas of Kitchener-Waterloo. My enhanced proven marketing systems have allowed me to deal with thousands of people within the Region over the years and this has brought me many referral clients. Let me put my marketing skills to work on selling your home!
Click on the image above to be directed to my FREE Home Evaluation Sign-Up Page and let me show you how I can get you more money for your home!!!
KITCHENER-WATERLOO, ON (January 5, 2017) ––There were a total of 6,655 residential sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in 2016. That’s a thousand more units than sold in 2015, amounting to an increase of 18.1 percent and setting a new record for total annual sales.
Dollar volume of all residential real estate sold last year increased 30.9 percent to $2,578,176,468 compared with 2015.
“2016 was marked by unrelenting demand for homes, in the face of fewer homes being put on the market,” said James Craig, President of the KWAR. There were 8,003 residential listings processed through the KWAR’s MLS® System in 2016, a decrease of 9.7 percent compared to 2015.
“For the past several months we’ve seen the number of months of inventory ranging between a ten-year low of 1 and 2 months,” says Craig. “While this puts sellers in a very strong position, it’s not so easy when those same sellers need to downsize or move-up.”
The average sales price of all residential properties sold in 2016 increased 10.8 percent to $387,404 in comparison to 2015. Detached homes sold for an average price of $451,738 an increase of 12.5 percent, while the average sale price for an apartment style condominium was $229,676, an increase of 3.6 percent. Townhomes and semis sold for an average of $287,396 (up 9.9 percent) and $300,806 (up 11.8 percent) respectively.
Home sales in 2016 included 4,203 detached homes (up 16.3 percent from 2015) and 1,511 condominium type units (up 28.1 percent) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 430 semi-detached homes (up 6.2 percent) and 430 freehold townhouses (up 7.2 percent).
Craig says that he expects demand for home purchasing in 2017 will continue to be strong. “There is no smoking gun to explain the current market. Mortgage rates remain low, inducing more consumers to get into the market. We have an extremely attractive community, with a growing population and diverse economy bringing in new residents to the region. Home prices remain affordable when compared to the average GTA prices.” Adding, “The challenge is inventory levels remain low, as homeowners are staying in their homes longer and some who might have otherwise moved up are choosing to avoid the hot market. What I hope to see is more balance returning to the market, because I sure don’t see the appetite for home ownership in Waterloo region letting up anytime soon.”
The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for so that you get a complete picture of the property and community you’re considering.
KITCHENER-WATERLOO, ON (December 2, 2016) ––Home sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), totalled 535 last month, an increase of 27.1 percent compared to November of 2015, marking another record breaking month for residential properties sold in Kitchener-Waterloo and area.
November’s sales included 352 single detached homes (up 34.4 percent compared to November 2015) and 118 condominium type units (down 22.9%) which include any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 32 semi-detached homes (up 45.5 percent) and 28 freehold townhouses (down 20 percent).
Record breaking sales are also being tallied on a year-to-date basis with 6,352 residential transactions compared to 5,341 during the same period in 2015, representing an increase of 18.9 percent. “Year-to-Date Sales to the end of November have now exceeded any previous end-of-year totals on record,” says James Craig, president of the KWAR. He points out that in 2007, sales to the end of the year exceeded 6,000 units for the first time, and haven’t hit that high-water mark again, until now, an entire month earlier.
Inventory levels on the other hand, remain stubbornly low. In their October release, the Canadian Real Estate Association stated that, “the tight balance between housing supply and demand in Ontario’s Greater Golden Horseshoe region is without precedent (including the GTA, Hamilton-Burlington, Oakville-Milton, Guelph, Kitchener-Waterloo, Cambridge, Brantford, the Niagara Region, Barrie and nearby cottage country).”
As of the end of November, the KWAR’ MLS® System only had 565 active residential listings on the market, down 23.1 percent compared to the previous month, and 60.8 percent below the same period last year.
The average price of all residential properties sold in November was $411,602 a 15.5 percent increase over 2015. Detached homes sold for an average price of $473,104, an increase of 13.9 percent compared to November 2015. During this same period, the average sale price for an apartment style condominium was $209,360, a decrease of 8 percent. Townhomes and semis sold for an average of $310,151 (up 14.8 percent) and $330,534 (up 27.7 percent) respectively.
“With a notable shortage of inventory, many properties are selling above list price,” said Craig. “This is because you have many buyers competing for fewer properties, and this is pushing up the average price.”
The median price of all residential properties sold in November increased 18 percent to $377,500, and the median price of a detached home during the same period increased 16.4 percent to $425,000.
2016 Was The Most Active February We’ve Seen On Record Since 2008
Residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were up 28.2% compared to the same month last year with 452 homes being sold in the month of February, 18.6% above the 5-year average for the month.
Residential sales (KW & Area) in February included 280 single detached homes (up 40.7% from last February), 33 semi-detached (down 17.5%), 31 townhomes (up 6.9%) and 103 condominium units (up 25.6%).
“This was the most active February we’ve seen on record since 2008, when 464 residential homes were sold,” stated Charlotte Zawada, President of the KWAR. “With interest rates holding steady and Waterloo Region remaining an attractive place to live and invest, I think we will continue to see buoyancy in our local housing market.”
Single detached homes sold for an average price of $419,480 an increase of 7.7% compared to last year. The average sale price for a condominium was $242,272, an increase of 8.3% while townhomes and semis sold for an average of $328,569 (up 10.0%) and $291,770 (up 12.0%) respectively. The average sale price of all residential sales through the KWAR’s MLS® System increased 10.3% to $361,889 compared to February 2015 with 42.0% of home sales in February occurring in the $250,000-$350,000 range.
“This time last year we were experiencing some really frigid temperatures that helped contribute to a 5-year low in home sales for the month. Things have been quite a bit warmer these past few weeks in comparison, and it goes to show how much of a role weather can play when it comes to buying or selling one’s home,” said Zawada.
The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
Consumers uncertain about current market conditions should work with a REALTOR® to develop an effective selling strategy. If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step. A REALTOR® understands the local market and must, by law, look after your best interests.
Screen doors let the breeze in and keep the bugs out. They open your home to the sounds and scents of summer, and help cool your house without wasting energy on air conditioning. Want to let in a little more summer this year? Here’s what you need to know about picking the perfect door.
Screen doors have come a long way from the hard-to-open metal models and flapping wood doors of your childhood. Available in metal, vinyl or wood, many feature smooth hydraulic or pneumatic closers and springs or chain stops that keep them from slamming shut or swinging open. Designed for both practicality and curb appeal, doors are available in a wide variety of colours, styles and finishes. Your choices include:
1. Basic vinyl or aluminum. Durable and affordable, these doors come in a surprising variety of attractive styles; you’ll find everything from traditional designs to art deco-inspired geometrics.
2. Storm/screen door combo. Traditionally, people replace the screen door with a storm door in the winter. A combination door makes the “swap” easier; simply remove or slide the glass down in summer and replace it with a screen.
3. Wood. From rustic doors featuring carved animals to pretty “granny doors,” wood can really add to the look of your home. However, winter cold and damp can be hard on them, so manufacturers suggest that you take them down when it gets cold to prevent warping.
4. Sliding. Inexpensive and easy to maintain, sliding screen doors that go with patio doors make it easy to open up your home to a fresh breeze.
5. Retractable screens. If you don’t like the look of a screen door, these are a great option, and are available at your local home improvement store. Screens pull out from the sides and lock shut with a magnetic catch. Handy homeowners will be able to install them with little effort.
With the right screen door for your home, comfort and curb appeal are a breeze!
Tips for installation
Thinking about installing your screen door yourself? Manufacturers include installation instructions that only require hand tools, but most DIY resources suggest an intermediate level of “handiness.” If that doesn’t sound like you, consider using an experienced carpenter or the store’s installation service.
Condo Cool
You don’t have to live in a house to kick back and enjoy the breeze. Welcome summer into your space by installing a screen door to your balcony. It’s a great way to make your indoor and outdoor spaces feel unified and to make your condo feel more spacious.
Do you have a dream of owning a place outside of the city where you can escape, kick back and relax? If so, you’re not alone. As demand continues to increase and average prices continue to rise, now more than ever you will need to be patient, establish a list of ‘musts’ and work with a Realtor who understands the recreational market, if you want your dreams to come true.
To begin your search, target potential areas and consider a road-trip to visit your most coveted spots. Once you find your ideal location, narrow your search by establishing a list of priorities. Do you plan to use your recreational property for seasonal versus year-round use? Do you wish to build a new cottage or buy an existing one? What are your hobbies? Is proximity to hospitals, public transit or schools important? If you are near water, lakes can vary tremendously in terms of allowances for boating, fishing and swimming. In the winter, do you want to use both cross-country and downhill skiing facilities?
With your priorities established, you will also be in a strong position to act fast if you need to. Popular sites are in demand.
Buying a recreational property can be considerably more complex than a standard home purchase and it generally takes longer. There is considerably more time and travel involved. The effort, according to a growing number of Canadians, is more than worth it.
Before you begin your search, give me a call. I can get you started down the right path toward your home away from home. If I cannot assist you directly in your purchase transaction, I can refer you to a quality Royal LePage Realtor in your desired area from our network of over 13,000 real estate professionals from coast to coast.
For the most recent Royal LePage Recreational Property Report, visit www.royallepage.ca and click Press Releases.,Demystifying Mortgages – How Much Can You Borrow?
A home is typically the largest purchase you will make in your lifetime, and for most Canadians this means obtaining a mortgage. The amount of your mortgage will determine the size and location of your new home – not to mention the size of your payments. So how do lending institutions decide how large your mortgage loan can be?
Call RIZ today to purchase your home away from home! 519-716-7253 (direct)
What goes under foot is seldom an easy decision. Colour, surface texture, room usage and price all come into play. Today, greener options abound, adding to the myriad of choices already available.
Increasing interest in incorporating renewable resources into the home has resulted in many beautiful eco-friendly flooring options.
For homeowners looking on the greener side, it’s worth a look at the many sustainable products available today:
• Give a tree another lease on life with salvaged wood flooring. A rustic look can be created with reclaimed wood. Buying reclaimed lumber continues to get easier, and in some instances, less expensive relative to the cost of new hardwoods. • Bamboo is a good option for rooms with low humidity. High abundance and a natural look make sustainable bamboo an attractive flooring option. Bamboo grows to maturity in three to five years, about a quarter of the time it takes to grow trees used for hardwood. • Linoleum flooring has retained its popularity over decades. Unlike vinyl flooring, which is a synthetic product made of chlorinated petrochemicals, linoleum is manufactured from natural compounds including linseed oil, cork dust, tree resins and ground limestone. With natural, renewable elements used in its manufacturing, this eco-friendly flooring option continues to remain a popular option. • Cork flooring has many eco-friendly attributes. Like bamboo, cork is quickly renewable. It is harvested from the bark of the cork oak tree and grows back every three years. Cork has anti-microbial properties to reduce allergens, is fire retardant and provides a comfortable feel under foot. Cork flooring can be finished in a variety of paints and stains to complement any room setting. • Polyester (P.E.T.) Berber carpet is a sustainable option made of recycled plastic bottles. Anytime we can reuse these materials, we reduce the amount of new materials being manufactured and we reduce non-biodegradable materials in our landfills. Polyester Berber is spill resistant and comes in a variety of aesthetically – pleasing colours and patterns.
Whatever your home’s style or design, an eco-friendly flooring option exists to complement the desired look and existing patterns.
Helpful hints in making a small room appear bigger!
Small rooms are the bane of the home decorator. How do you achieve a pleasing look that doesn’t feel cramped and claustrophobic? Short of building an addition or knocking down walls, you are limited to a few, but effective, decorating tricks that create the illusion of space.
The strategic use of colour and light is the best way to achieve this. Choose light shades of paint or wallpaper for the walls. Lighter colours reflect light making for a brighter room. Use an even lighter shade of the same colour or white for ceilings and floors. A darker colour on the ceiling will make the ceiling look lower and tends to make the walls look as though they are closing in.
Avoid harshly contrasting colours. In fact, a monochromatic colour scheme that carries throughout the room into fabrics and accessories is very effective. Steer away from too many patterned items. The goal here is to blur perspective.
Anything you can do to bring light into the room will also give the effect of increased space. A corner wall sconce that casts light up onto the wall works well. Try to vary lighting effects for interest. A skylight is a great way to add light to a room, but isn’t always practical or affordable. Mirrors are a great solution for small rooms. Place mirrors directly across from another for maximum impact. A mirror placed across from a window is also effective. Place a lamp in front of a mirror to add more light to your room.
If you have wood or patterned flooring, have it installed so that the lines run diagonally across the room. This makes for longer lines, which give the appearance of a larger space. When furnishing the room, pick objects that are proportioned to the size of the room. For example, opt for a loveseat over a full-sized sofa. Lastly, keep the clutter to a minimum. Avoid using a lot of knick-knacks and keep the room tidy and well organized.
The summer months are the perfect time to freshen up the exterior of your home. Whether it’s for your pleasure or to impress potential buyers, you’ll boost your home’s curb appeal with these good old-fashioned cleaning tips:
– Edge the gardens, clean out debris
– Pull the weeds and rake the leaves
– Prune the plants and wooly shrubs
– Plant some urns by the entrance and flowers to the beds
– Tidy the garage of winter trappings
– Dispose of rusty broken garden décor
– Put out a fresh welcome mat and oil the front door
– Paint the windowsills, mailbox, and anything else that is looking tired
– Place clear light bulbs in exterior fixtures, and ensure burned out bulbs are replaced
– Reseal the driveway
– Hide the garbage cans
– Sweep the step
– Fix the saggy gutters
Who says cleaning has to hurt? Get the kids involved! Borrow or buy a power washer and have fun cleaning siding, windows, sills, railings, decking and patio furniture.
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.
The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Kitchener-Waterloo Real Estate Board.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA)
and identify real estate professionals who are members of CREA. Used under license.
Property 2: This Kitchener Townhome situated in popular Huron Village was listed on January 19, 2017 and sold in 2 days for 110% over the asking price with numerous offers.
Property 3: This Laurelwood, Waterloo single detached home sold within 6 days of listing on January 18, 2017 for 105% over the asking price with many buyer offers.
Property 4: This detached backsplit home nestled in the Maple Hills area of Westmount, Waterloo was listed on January 18, 2017 and sold in multiple offers for 117% over the asking price in just 6 days.
Property 5: This end unit townhome in Laurelwood lasted only 6 days while being offered 40 offers and netting 132% over the asking price after being listed on January 18, 2017.
Property 6: This Eastbridge, Waterloo Semi-Detached home was listed on January 17, 2017 and sold within 7 days at 127% over the asking price in multiple offer bids.
Property 7: This single detached home in sought after Laurentian Hills, Kitchener was listed on January 16, 2017 and sold within 6 days for 112% over the asking price in multiple offers.
