Local Real Estate News

Fall Market Trends To Set New Peak Prices

Fall Market Trends To Set New Peak Prices

The Kitchener-Waterloo residential real estate market has continued its steady climb in property value through this year and the month of August. Homeowners and real estate enthusiasts alike will remember by May of 2017, our real estate market was experiencing the strongest value surge on record. At peak price, the average detached home in Kitchener-Waterloo was selling for $594,047 and worth 35% more than the year before (KWAR). Following these dramatic increases, the provincial and federal government began tightening the market through regulations which included a foreign buyers tax in the greater golden horseshoe (which includes KW), raising interest rates and requiring stress tests for mortgages. As a result, the market began a three-month corrective slide halting in August 2017.

Since that time, the local market has begun a string of steady month over month average value increases. The sales statistics for August 2018 have placed our market just a breath below the peak prices of May 2017, and if the trend continues, Kitchener-Waterloo should be breaking new value records come the months of September and October. The average residential sales average for August 2018 was $493,358 up 11.5% compared to August of 2017 and just below the $496,664 of May 2017. The average detached home sold for $583,564 last month.

Condominiums the strongest sector:

Waterloo Regions real estate market is also beginning to reflect a trend found in the Greater Toronto Area, condominium value gains are outpacing detached homes. In fact, the average sale price of a condominium apartment in Kitchener-Waterloo last month was $335,827 which is actually 14.5% higher than the market peak in May 2017. This is the first sector of the residential market to achieve value benchmarks higher than our record-setting year.

What is making condominiums so popular? It’s difficult to address such a broad trend with certainty but there are a few factors that likely contribute. Firstly, the federal government reduced the purchasing power of the average consumer by placing stress tests on mortgages. These added regulations may put the detached market out of reach for some first-time buyers who are now looking to condos. Furthermore, many baby boomers are now finally downsizing and also moving into condos. Finally, there seems to be a trend with younger buyers preferring core, urban locations which also favour condo living, some are even choosing to raise small families in apartments.

There are many new condominium developments springing up along the LRT line in both Kitchener and Waterloo. These developments have investment potential especially early in the process when developers are likely to offer pre-construction incentives. Contact Benjamins Realty Inc. to learn about where the next best place may be to consider an investment or home. Or read more under our development reviews in the blog section.


Recent Posts


Exactly Why to Decide on benjamins realty inc?

Around benjamins realty inc we truly take being a real estate agent very earnestly. All of us recognize that unquestionably any time consumers are hunting to get a terrific real estate agent in Waterloo people require the ideal. Continuously we do struggle to be the slickest real estate agent we all can be inside Ontario. It is really our devotion to absolutely embodying the winner that has garnered us all our good respect with each of our patrons.

As a terrific real estate agent in Waterloo we all of course invariably strive to make time to respond to all our clients questions diligently and with absolutely no judgment. We always make time. All of us feel that it's very crucial to be sure that consumers truly feel valued and cared for.

There truly are not numerous real estate agent that hold the knowledge and track record to market their service as being pioneer inside their market. Merge that with our very high degree of purchaser assistance and we truly really feel we're absolutely the ideal terrific real estate agent in Waterloo in Ontario.

Looking to start now?

It starts off with a telephone call.

Phone (519) 575-9092.

We'll be thrilled to go over all your present real estate agent concerns at length on the phone or through e-mail if perhaps this works better for yourself. Next we can offer the solution which very best suits your current goals. See the reason people refer to us as one of the best terrific real estate agent in Waterloo!

Continue to Want Persuading? Other Arguments Why benjamins realty inc is actually A Realtor In Kitchener

Devotion to Quality - A Realtor In Waterloo and A Real Estate Agent In Kitchener

Our commitment to high-quality is tremendously substantial. If you are wanting to be a terrific real estate agent in Waterloo or a terrific real estate agent in Waterloo, there's really not one other alternative but to really give it your level best in order to stand out. In case a specified client will require added attention, we supply that valued purchaser additional effort. Almost anything in order to be sure they are completely satisfied with all of us as a real estate agent. Do not forget, we do assistance almost all of Ontario, so don't hesitate to email us.

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

Many customers have occasionally defined us as a terrific real estate agent in Waterloo, a terrific real estate agent in Waterloo, a terrific real estate agent in Waterloo and furthermore the leading Ontario situated real estate agent that could exist! Honestly that will not take place unless there's unbelievably diligent labor in addition to dedication to your foundational clients and the superior quality of your completed work. If perhaps you will be searching for a terrific real estate agent in Waterloo, all of us definitely contend that we are sincerely the preferred option. Simply phone benjamins realty inc to discuss the needs you have now! (519) 575-9092.

Knowledge - A Real Estate Listing Service In Waterloo and A Terrific Real Estate Agent In Waterloo

For almost any landscape, expertise is certainly a huge factor affecting success. If perhaps you're looking for a terrific real estate agent in Waterloo, well then this fact is definitely all the more accurate. Being a real estate agent, we all will certainly explain to you firsthand how the actual result is categorically driven through the past experience of the organization that you've been employing. The undeniably massive magnitude of practical experience that benjamins realty inc has got as a terrific real estate agent in Waterloo, is simply exactly why anyone must trust all of us for your invaluable critical requirements. Whenever you're browsing to get a terrific real estate agent in Waterloo, consider benjamins realty inc. Ensure you talk to all of us immediately.

Reach out Now to Get a Absolutely Free Appointment!

We will not get under quoted. Try not to pay ridiculous fees merely because you failed to contact all of us. Positive you were given an untouchable value now? Why don't you be absolutely positively assured? Consult any of us. You might just learn that we're in truth the better choice. Numerous people have .

Deciding on the real estate agent to engage is a significant decision. Choose the best decision. You should discuss with us all with actually zero commitments to discover on your own if we all are in fact the most effective real estate agent for your requirements.

Call Now!

(519) 575-9092 [/BREAK]