Local Real Estate News


2018 In Review: Kitchener-Waterloo Real Estate

2018 In Review:

Kitchener-Waterloo Real Estate

Real estate markets are subject to influence on a national or global level (macro pressure) and a smaller, local level (micro pressure). In 2018, we saw macro influence on the Kitchener-Waterloo real estate market in a number of ways. Enhanced national mortgage regulations that require purchasers to qualify based on a benchmark interest rate a full 200 points higher than the central lending rate (effectively adding 2% to the current rates) has perhaps been the strongest downward pressure. This effectively cut away a lot of purchasing power for consumers. Secondly, the Bank of Canada throughout 2018 was sending rather bullish messages regarding the Canadian economy and hinting strongly at interest rates rising progressively over the next two years. The overall effect has seen a stall on rising home values across most of Canada. Nationally residential housing was down almost 5% in December.

2019: Macro and Micro for KW…

The macro narratives for 2019 will largely surround interest rates. The Bank of Canada has begun shifting away from determined language regarding rate increases instead preferring a more deferential tone of “wait and see”. Slumping oil prices are cutting inflation and the global economy is reticent with volatility between the American and Chinese economy. Some of the national banks have even cut interest rates in early 2019, and CIBC’s Deputy Chief Economist recently went on record questioning whether mortgage stress tests are still needed given the dramatic reduction in sales volume nationally and declining values.

Kitchener-Waterloo has not been entirely exempt. Overall, our residential sales volume was down -11.1% in 2018 compared to the torrid year of 2017. The only sector to see a volume increase has been condominiums with a solid +6.4% in 2018 year over year. This of course dovetails neatly into the reduced purchasing power consumers are experiencing. Those sectors of residential real estate that are more affordable are also seeing the fastest price growth. Condos topped out at +12% for the year while townhomes +5.5%, semi-detached +4.7% and detached +4.8%.

As pointed out in previous market reviews, this moderate growth actually places our market as one of the strongest nationally, and only a few other urban areas are outpacing us (mainly Ottawa and Montreal). Economists are pointing out how attractive mid-size cities are becoming for consumers as they offer good urban infrastructure while maintaining comparative affordability to Toronto and Vancouver.

Conditions Are Ideal To Step Up To A Larger Home

Locally, despite a reduction in sales volume, listing inventory remains historically deflated by 50%. It’s hard to see how our market will see declines unless inventory creeps up. There is plenty of Buyer demand to meet the current inventory of homes for sale. It’s still a great time to sell, especially for entry level detached home owners. Those looking to step up to a larger home and unload their first property can be confident as market conditions are ideal and interest rates are still historically low.

Have questions about what your home is worth? Wondering whether now is a good time to Buy? We’re always available to discuss the Waterloo Region real estate market. Simply Contact Us or fill in the form below.

  • Let's get started, contact us TODAY.

  • This field is for validation purposes and should be left unchanged.

Recent Posts


Why Pick Benjamins realty inc?

At Benjamins realty inc we truly look at being a real estate agent quite sincerely. All of us know that any time folks are browsing to obtain a trusted realtor in Kitchener people need the finest. Unendingly we attempt to be truly the slickest real estate agent we possibly can be within Ontario. It truly is our dedication to absolutely staying the winner that has won us all extremely substantial respect here with our customers.

Being a trusted realtor in Kitchener we all also invariably strive to spend some time to hear each of our clienteles' questions with great diligence and with no delay. We without fail make an effort. We believe it's incredibly vital to be sure clients feel really recognized and even looked after.

There really are not an excess of real estate agent that have the exact knowledge plus experience to label their business as being front runner of their field. Mix this together with a very high amount of client service and we truly feel we're the best trusted realtor in Kitchener in Ontario.

Want to get moving?

It starts with a call.

Call (519) 575-9092.

We are happy to talk about all your real estate agent needs in more detail on the phone or maybe via e-mail in case that is best for you personally. Beyond that we can easily recommend the remedy that perfectly meets your situations demands. Find out why folks refer to us as the top trusted realtor in Kitchener!

Even Now Require Prodding? Different Reasons Why Benjamins realty inc is A Realtor In Kitchener

Commitment to Elite Excellence - A Realtor In Waterloo and A Real Estate Agent In Kitchener

Our loyalty to fine quality is actually quite high. In case you are trying to become a trusted realtor in Kitchener or a trusted realtor in Kitchener, there is seriously no other alternative but to do your level best possible in order to excel. If any given client calls for more work, we offer this customer extra care. Almost anything to be able to be sure they are completely happy with us all as a real estate agent. Do not forget, we support almost all of Ontario, so don't hesitate to contact us today.

Commitment - A Real Estate Agent In Waterloo and A Real Estate Listing Service In Kitchener

Our cherished customers have described us as a trusted realtor in Kitchener, a trusted realtor in Kitchener, a trusted realtor in Kitchener and the finest Ontario situated real estate agent you will find! Really that doesn't happen without amazingly hard toil and resolve for your foundational buyers and also the high quality found in your completed work. Whenever you'll be looking to find a trusted realtor in Kitchener, all of us absolutely contend that we're honestly the best pick. Phone Benjamins realty inc to explain your quote now! (519) 575-9092.

Understanding - A Real Estate Listing Service In Waterloo and A Trusted Realtor In Kitchener

Within any specific industry, skill definitely is a key ingredient in regards to end results. In case you're needing a trusted realtor in Kitchener, well that is certainly more correct. As a real estate agent, all of us will certainly show anyone decisively how the end result is categorically driven from the knowledge of the firm that you're hiring. The extremely huge level of past experience that Benjamins realty inc has as a trusted realtor in Kitchener, is definitely exactly why you have to rely on us for your valuable patronage. If perhaps you might be searching to get a trusted realtor in Kitchener, think of Benjamins realty inc. Remember to speak to all of us without delay.

Call ASAP to Receive a Obligation Free Appointment!

We can't get beat. Do not pay ridiculous fees just because you couldn't chat with all of us. Certain you were given an unbeatable cost presently? Need to be 100 % assured? Speak with any of us. You well may just simply discover that we're indeed the better company. Plenty of clients have previously.

Selecting the right real estate agent to work with is a confusing task. Make a well informed assessment. You can chat to us with simply no need to determine for yourself if we all are truly the most effective real estate agent for you.

Call Now!

(519) 575-9092 [/BREAK]