Your search results

Waterloo Region Housing Prices Hold Firm

Posted by John Benjamins on May 8, 2018
| 0

waterloo region

Waterloo Region was one of the hottest housing markets in all of Canada in 2017. At times in early 2017, housing values were rising close to 5% a month. Housing regulations introduced by the provincial government had a slight dampening effect on the local market through the summer of 2017, but by the fall housing values began climbing again.

More recently, the Federal government passed further regulatory measures. Starting in January 2018, mortgage providers were required to place added stress test on applicants, even those who had a 20% downpayment; this effectively reduced the overall purchasing power of the average Buyer. The result has been a chilling effect on residential real estate in the upper end of the market (more expensive homes). This is most visible in the major metropolitan areas where real estate values are highest, for example, Toronto has seen a 14% reduction in value year over year on the average residential transaction. Anecdotally, we hear of Toronto Buyers who make $80k+ per year but can hardly qualify to buy a $400k condo. Interestingly, in Toronto, the condo market has continued to remain strong as Buyers forego the higher purchasing costs of freehold property.

Waterloo Region Detached Values Outperform Toronto

In Waterloo Region, the considerable value run of 2017 was widely seen to be driven by Greater Toronto Area (GTA) Buyers seeking more affordable housing and a low inventory of homes for sale. That interest from the GTA has continued, and although inventory levels have come up some, they are still below historical averages, this makes the difference between our two markets. Housing prices in KW have held firm compared to the peak prices of 2017. There has been a cooling response locally on properties sold above the average benchmark prices, for example, homes listed above $500k in April 2017 took only 10 days to sell on average, this year the average is 24 days. The most recent statistics from the Kitchener-Waterloo Real Estate Association for the month of April show that the median sale price for detached homes was down 3.9% from April of 2017 while the average residential sale price for April is down 6% year over year. Meanwhile, condos have seen a 10% increase which hints that even in our local market Buyer affordability has eroded marginally under the tightened regulations.

Sellers should still feel confident, multiple offer situations continue to be common among affordable properties that are well priced and show nicely. However, Buyers can take comfort that the market has become more receptive to conditional offers should they find a property not under siege by multiple bids.

Recent Posts


Exactly Why to Select Benjamins realty inc?

Here at Benjamins realty inc we all take being a real estate agent very earnestly. All of us understand that truly any time clients are shopping to obtain a trusted real estate agent in Kitchener people desire the top. Therefore we do push to be really the best real estate agent we could possibly be throughout Ontario. It's our dedication to truly embodying the greatest that has generated all of us truly significant regard with each of our clients.

Being a trusted real estate agent in Kitchener we all likewise invariably aim to take the time to unravel every clients inquiries with great diligence and without impatience. We all always go to the trouble. We all feel it's very essential to ensure clients feel really appreciated and of course cared for.

Certainly, there usually are not so many real estate agent who maintain the specific skills and experience to identify themselves as a innovator inside their market. Combine that with our superior amount of purchaser assistance and we feel we're the greatest trusted real estate agent in Kitchener around Ontario.

Ready to start now?

Everthing begins with a simple phone call.

Call (519) 575-9092.

We will be delighted to talk about any real estate agent needs in depth on the phone or perhaps by using e-mail in case that is preferable for you. Following this we will suggest the solution which perfectly matches your situations conditions. See just why people today describe us as the right trusted real estate agent in Kitchener!

Still Require Convincing? Some Other Reasons Why Benjamins realty inc is really A Realtor In Kitchener

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

Our devotion to fine quality is definitely extraordinarily high. When you're trying to be a trusted real estate agent in Kitchener or a trusted real estate agent in Kitchener, there's seriously not one other route but to give it your absolute best to outshine. In case a particular client needs further work, we afford that valued purchaser added work. Nearly anything for us to be positive they are completely happy with all of us as a real estate agent. Always remember, we do work with most of Ontario, therefore you should give us a call.

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

Our cherished consumers have identified us all as a trusted real estate agent in Kitchener, a trusted real estate agent in Kitchener, a trusted real estate agent in Kitchener and also the perfect Ontario situated real estate agent you can find! Really this won't happen without unbelievably diligent labor along with dedication to your foundational clients and then the unparalleled quality inherent within your completed work. In case you'll be shopping around to get a trusted real estate agent in Kitchener, we certainly believe we're really the right option. Phone Benjamins realty inc to explain your quote immediately! (519) 575-9092.

Knowledge - A Real Estate Listing Service In Waterloo and A Trusted Real Estate Agent In Kitchener

With virtually any sector, experience really is a primary factor with regards to good results. If you may be needing a trusted real estate agent in Kitchener, this point can be much more correct. As a real estate agent, all of us will tell anyone categorically how the final quality is determined through the experience of the corporation that you've been contracting. The excessively significant magnitude of practical experience that Benjamins realty inc possesses in being a trusted real estate agent in Kitchener, is precisely why you actually really should trust us for your valuable requirements. In case you will be looking to get a trusted real estate agent in Kitchener, look into Benjamins realty inc. Remember to communicate with us all straightaway.

Connect Immediately to Get Your FREE Assessment!

We will not get underbid. Don't pay more because you neglected to contact us. Sure you currently have an untouchable quote now? Want to be positively certain? Discuss with all of us. You might simply just discover that we're more suitable quote. Countless people have in the past.

Deciding on exactly which real estate agent to use is a significant endeavor. Choose an educated plan. You will want to meet with us with actually zero obligation to uncover if we are actually the optimal real estate agent for you.

Call Now!

(519) 575-9092 [/BREAK]

Contact Us

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