Local Real Estate News

Latest KW Market Analysis, CMHC Predicts Moderate Growth

Latest KW Market Analysis, CMHC Predicts Moderate Growth.

The October 2018 sales statistics for Kitchener-Waterloo’s housing market were recently released. The K-W Board’s monthly report highlighted a rebounding sales volume (up 7.8% year over year), this was a reasonably significant increase compared to the month previous which saw a year over decline (-4.7%).

Residential sales values were also up year-over-year averaging out at a 7.7% increase. The condominium sector continues to lead price growth and saw the most substantial value increase at 24.1% compared to October of last year. Townhouses and semi-detached homes followed condos at a solid 13.8% increase while detached property was up 6.2%. The average residential transaction in our region has continued to hover around 490k for the last three months and locked in at $489,975 for October 2018.

During the real estate run of 2016-2017, detached homes were heavily outpacing condominiums and townhomes in value growth, but due to recent rising interest rates and tightened mortgage regulations that trend has reversed. At a Housing Insights Conference on November 7th, CMHC’s Regional Economist Ted Tsiakopoulos discussed with local realtors how we could expect this trend to continue. Tsiakopoulos pointed out that the median purchase price in our region is now hovering close to $400,000. At that price point, only entry-level detached homes fall into range.

The Bank of Canada raised the benchmark lending rate on October 24th to 1.75%; many analysts are projecting the central rate may be hiked two to three more times yet and possibly in quarterly succession depending on the strength of the economy and inflation. These types of rate hikes are projected to moderate demand in the real estate market over the next two years. CMHCs recent provincial outlook for the housing market cites rising rates should return price growth to more fundamental or historical averages.

Locally, we can continue to expect strong demand for our real estate market. Particularly, residential inventory continues to be depressed by about 1/3 compared to the historical average, meaning there aren’t enough homes for sale. Furthermore, our regional population is growing ahead of the provincial average, and we have very low unemployment rates. A return to more moderate growth as projected by CMHC will be welcome. As our region expands, it is essential to ensure it is done on a stable footing. Have questions about what your home is worth? Feel free to Contact Us or just 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

[BREAK]

Why Pick benjamins realty inc?

Around benjamins realty inc we honestly look at being a real estate agent very gravely. All of us recognize that unquestionably any time folk are searching to obtain a peerless real estate agent in Kitchener they need the best. Unendingly all of us endeavour to be truly the greatest real estate agent we all could possibly be in Ontario. It is really our devotion to really embodying the standout that has generated all of us extremely substantial esteem here with each of our patrons.

Being a peerless real estate agent in Kitchener all of us also definitely attempt to invest time to listen to each of our clients inquiries with great patience and with no waiting. We all without fail make time. We all insist that it is really important to guarantee consumers really feel understood and even taken care of.

Now there are usually not too many real estate agent who have the exact knowledge combined with experience to identify their business as a innovator within their business. Blend that with our increased level of customer support and truly we feel we absolutely are the best peerless real estate agent in Kitchener around Ontario.

Looking to start now?

Everything begins with a telephone call.

Call (519) 575-9092.

We will be happy to go over all your current real estate agent needs in depth over the phone or through e-mail if this is preferable for you personally. After that we will propose the choice that idealy meets your requirements. Learn precisely why folks describe us as the ideal peerless real estate agent in Kitchener!

Still Require Prodding? All the Arguments Why benjamins realty inc is truly A Realtor In Kitchener

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

Our loyalty to good quality is remarkably high. Should you be wanting to become a peerless real estate agent in Kitchener or a peerless real estate agent in Kitchener, there is seriously not one other choice but to really give it your personal best in order to stand out. Whenever a specific consumer requires further attention, all of us afford that valued customer extra effort. Just about anything to be certain they are happy with us all as a real estate agent. Also remember, we work with all of Ontario, therefore don't hesitate to contact us today.

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

Our cherished clientele have referred to our team as a peerless real estate agent in Kitchener, a peerless real estate agent in Kitchener, a peerless real estate agent in Kitchener and even the perfect Ontario area real estate agent that could exist! Really this will not occur without exceptionally hard work along with investment in your foundational clients together with the top quality inherent in your work. If perhaps you will be looking for a peerless real estate agent in Kitchener, we all honestly feel that we are truly the preferred choice. Contact benjamins realty inc to talk about your quote now! (519) 575-9092.

Experience - A Real Estate Listing Service In Waterloo and A Peerless Real Estate Agent In Kitchener

Within almost any landscape, skill is really a big aspect when it comes to end results. Whenever you're needing a peerless real estate agent in Kitchener, then this fact is certainly still more correct. Being a real estate agent, all of us will definitely tell you decisively that the final outcome will be measured from the working experience of the business that you are contracting. The excessively significant level of expertise that benjamins realty inc provides in being a peerless real estate agent in Kitchener, is simply precisely why you should really invest in us all with your invaluable business. If perhaps you are looking for a peerless real estate agent in Kitchener, think about benjamins realty inc. Ensure you communicate with us all immediately.

Call Immediately to Receive a Obligation Free Appointment!

We do not like to get underpriced. Never pay ridiculous costs merely because you couldn't speak to us all. Think you are getting an unbeatable quote ? Need to be totally certain? Talk with any of us. You well may simply realize that we're in truth the better value. Lots of people have .

Choosing just what real estate agent to use is a crucial decision. Go with a well informed call. Why don't you discuss with us all with actually zero commitment to determine for yourself if all of us are actually the very best real estate agent for your requirements.

Call Us!

(519) 575-9092 [/BREAK]