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

[BREAK]

Reasons to Decide on benjamins realty inc?

Here at benjamins realty inc we truly take being a real estate agent incredibly gravely. All of us understand that undeniably when consumers are browsing to obtain a top realtor in Kitchener they prefer the top. Continuously all of us attempt to really be the best real estate agent we all possibly can be within Ontario. It is really our commitment to really remaining the best that has earned all of us this great esteem with our customers.

Being a top realtor in Kitchener we all also invariably try to invest time to understand every one of our customers questions with great patience and devoid of delay. All of us always go to the effort. We all believe it's extremely crucial to be certain clients truly feel appreciated and of course taken care of.

Now there are truly not so many real estate agent who currently have the particular skill set and track record to market themselves as being front runner within their market. Incorporate this with our great level of client support and truly we really feel we absolutely are the ideal top realtor in Kitchener in Ontario.

Just want to get moving?

It gets underway with a quick call.

Phone (519) 575-9092.

We'll be thrilled to examine your present real estate agent inquiries at length over the phone or perhaps through email in case this is better for you. Following that we can easily offer the choice that best satisfies your current needs. Learn why people today call us one of the best top realtor in Kitchener!

Still Require Convincing? Different Great Reasons benjamins realty inc is truly A Realtor In Kitchener

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

Our commitment to high-quality is actually exceedingly significant. When you are attempting to be a top realtor in Kitchener or a top realtor in Kitchener, there is seriously not one other option but to really give it your best possible to excel. In case a specified client will take more attention, all of us supply that consumer further time. Whatever's necessary to be able to make certain they will be ecstatic with us as a real estate agent. Do remember, we support virtually all of Ontario, therefore you should phone us.

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

Our valued clients have indeed mentioned our business as a top realtor in Kitchener, a top realtor in Kitchener, a top realtor in Kitchener and the greatest Ontario based real estate agent that could exist! This doesn't happen without exceptionally diligent labor in addition to commitment to the businesses clients and also the quality inherent in your product. If you'll be looking around to find a top realtor in Kitchener, all of us honestly feel we are honestly the perfect solution. Call benjamins realty inc to explain your needs ASAP! (519) 575-9092.

Knowledge - A Real Estate Listing Service In Waterloo and A Top Realtor In Kitchener

Within virtually any landscape, skill is usually a significant issue in terms of success. In case you will be looking for a top realtor in Kitchener, this point is usually even more true. Being a real estate agent, we will definitely tell anyone in person how the final end result is very much decided through the knowledge of the firm you're contracting. The very massive degree of knowledge that benjamins realty inc has got as a top realtor in Kitchener, is actually precisely why you actually have to believe in us for your important patronage. In case you happen to be looking to get a top realtor in Kitchener, think about benjamins realty inc. Certainly contact us straightaway.

Make Contact ASAP to Get Your Absolutely Free Assessment!

We do not like to be beaten. No need to pay outrageous fees only because you didn't chat with us all. Thinking you currently have an outstanding price currently? Why not be positively confident? Talk with us here. You well may simply find that we are in fact more suitable price. Numerous clientele have .

Determining the best real estate agent to use is a difficult undertaking. Otp for an informed assessment. You should meet with us all with actually zero expectation to discover yourself if we are actually the perfect real estate agent for your criteria.

Call Us!

(519) 575-9092 [/BREAK]

Contact Us

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