Waterloo Region’s 2018 residential real estate indicators are predictive of continued growth in the first quarter fuelled by low inventory and strong Buyer demand. The 4th quarter of 2017 saw Waterloo Region as the country’s most robust housing market, and although our market has performed in the top 5 urban real estate markets for some time now, it’s the first time we’ve actively led all residential markets in Canada for value growth over an entire quarter.
Some analysts were correct in predicting further interest rate stress-test regulations would slow down what was a roaring Ontario residential real estate market in 2017, prices did indeed fall in the GTA where the average residential sale price is considerably higher then Waterloo Region. So far in the first quarter, our local market has remained insulated against decline by comparatively lower residential values thus ensuring our market’s high desirability to out of town purchasers relocating from the Greater Toronto Area. Locally, prices slowly rallied through the fall of 2017 and intensified in the early weeks of 2018. Residential listing inventory is near record lows again, just shy of early 2017. Kitchener continues to lead the way in early 2018 as the only municipality in the Waterloo Region still averaging residential sold prices almost 1% higher than list price over the first 100 transactions of 2018, this is indicative of multiple offers and a continued Seller’s market.
As always, if you’d like to know what the value of your property is, or are curious about the real estate market in Waterloo Region, we’re here to take your call or reply to your email inquiry.