| Recent Blog Posts by Jeff Gingerich | ||
Kitchener Waterloo Real Estate Sales Flourish in April
Kitchener Waterloo residential real estate sales flourished in April with 510 sales reported through MLS. Of these 44 were new or to be built and 466 were resale homes. These results were up substantially over April 2011 which saw 459 sales including 39 new and 419 resales sold through MLS.
Included in the resale homes was the luxury home pictured above in Kiwanis Park. ...
Posted by Jeff Gingerich
on May 5, 2012
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Seller's Market Continues in Kitchener Waterloo Real Estate
As anyone who tried to buy a home in March will tell you, Kitchener Waterloo real estate remains a seller's market. Residential MLS sales in March totalled 482 with 33 new and 449 resales. New homes sales were resurgent as the 33 sales represented an 8% drop over the 36 sold in March 2011. This is good news for Kitchener Waterloo homebuilders as regular readers ...
Posted by Jeff Gingerich
on April 3, 2012
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Kitchener Waterloo Real Estate Sales Update February 2010
While the mainstream media speculated about a Canadian real estate bubble, it was business as usual in Kitchener Waterloo in February. Preliminary results from the Kitchener Waterloo MLS show 344 residential sales in February 2012 versus 377 in February 2011. Continuing a trend seen last fall, a decline in new home sales in the Twin Cities was ...
Posted by Jeff Gingerich
on February 29, 2012
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Kitchener Waterloo Real Estate Update November 2011
Residential real estate sales in Kitchener Waterloo fell year-over-year with 330 recorded through the MLS this November and 367 in November 2010. However, much like October, the decline can be attributed to plummeting new home sales. Just 19 new homes sold in November 2011 through MLS versus 49 and 63 in the previous Novembers.
Resale homes sold in November homes totalled ...
Posted by Jeff Gingerich
on December 5, 2011
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Robust Kitchener Waterloo Real Estate Sales Push Prices Up Nearly 6% in August
Low interest rates continued to entice Kitchener Waterloo homebuyers into the market in August as 351 residential MLS sales were recorded. This is down slightly over the 369 in August 2010. However, August 2010 saw sales of 41 new homes versus 17 this August. Sales of used homes or resales in August were up 2% year-over-year.
Readers of this blog will recall ...
Posted by Jeff Gingerich
on September 5, 2011
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Luxury Home Sales In Kitchener Waterloo Poised For Record Results
Million dollar homes in Kitchener Waterloo continue to sell at record-setting levels this year. Following 2010's record total of 12, there have already been 8 residential MLS sales over $1 million in 2011. Luxury home buyers continue to have it their way as sellers are receiving, on average, 92% of the asking price, down slightly from 2010's ...
Posted by Jeff Gingerich
on June 8, 2011
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Kitchener Waterloo Real Estate Update April 2011
Record rainfall dampened April 2011 residential sales as Kitchener Waterloo recorded 455 MLS sales, off 16% from April 2010 results. New home sales totalled 38, an increase over the 31 sold in April 2010. Resale unit sales were off 18% year-over-year. There was some good news as April sales averaged just 39 days on the market and an average price of $305,379 versus ...
Posted by Jeff Gingerich
on May 4, 2011
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Luxury Home Sales In Kitchener Waterloo Continue To Flourish
After a record-setting 2010, sales of million dollar homes in Kitchener Waterloo are poised to hit new heights. Million dollar residential sales on MLS already total 4 year-to-date in Kitchener Waterloo following 12 in 2010. The average sale price for these homes was $1.219 million and it took 125 days to find a buyer on average. Buyers are driving a hard bargain ...
Posted by Jeff Gingerich
on March 8, 2011
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Does $2 A Litre Gas Affect Your Housing Choice?
Just finished reading a thought provoking book by Canadian economist Jeff Rubin called Why Your World Is About To Get A Whole Lot Smaller. The book makes a number of predictions including $200/barrel oil, $2/litre gas in Canada($7/gallon in the U.S.), escalating food prices, and the return of some manufacturing jobs as shipping costs rise. The book is well-researched and written ...
Posted by Jeff Gingerich
on February 28, 2011
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The Mystery of the Disappearing Toilet
When I was a kid, I used to read a series of mystery books involving the Hardy Boys. Each book would see the brothers tackle and solve a mystery. Real estate doesn't have many but recently, when a client took possession of their resale home, a mystery ensued.
Remember the excitement of buying your first home? As a Realtor, the experience ...
Posted by Jeff Gingerich
on January 21, 2011
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What Does 2011 Hold In Store For Kitchener Waterloo Real Estate?
The new year is always an exciting time in real estate and as I survey the year to come, 2011 will be no exception. First, let's look back and see how we did with last years forecast. My Kitchener-Waterloo Real Estate Sales Forecast 2010 called for a return to a more traditional market where 2/3 of the buying and selling was done between January and June. The ...
Posted by Jeff Gingerich
on January 10, 2011
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Kitchener Waterloo Power of Sale Report November 2010
Residential power of sale activity on the Kitchener Waterloo MLS in November was relatively quiet. Active listings under power of sale on December 15th declined to 14 from mid-November's 15. Of note, 13 are in Kitchener with 1 power of sale in Waterloo. Six of the Kitchener power of sales are condominiums and the bulk of the properties are under $300,000. I'll ...
Posted by Jeff Gingerich
on December 18, 2010
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Kitchener Waterloo Real Estate Update November 2010
While November has a reputation for dismal weather, real estate sales in the Twin Cities this past month were bright and sunny. Residential MLS sales for Kitchener-Waterloo totalled 365 in November versus 413 for November 2009. For those keeping track, this represents a 12 per cent decline. However, it's interesting to note that in November, ...
Posted by Jeff Gingerich
on December 2, 2010
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Record Sales Continue in Million Dollar Luxury Homes in Kitchener Waterloo
Million dollar residential sales continue to set new records in Kitchener Waterloo in 2010. Luxury home sales over 1 million dollars on the Kitchener-Waterloo Multiple Listing Service total 11 year-to-date. The average sale price of these homes is a lofty $1,502,545. The average days on the market for these sales has soared to 130 days or over 4 months versus 39 days ...
Posted by Jeff Gingerich
on November 22, 2010
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Kitchener Waterloo Power of Sale Report October 2010
In sharp contrast to era of "foreclosure-gate" in the United States, residential power of sale activity in Kitchener Waterloo continues to represent a small percentage of the market. Active listings under power of sale on the Kitchener-Waterloo MLS totalled 15 as of mid-November which equalled October's total. Of note, 93% are in Kitchener and 7% in ...
Posted by Jeff Gingerich
on November 16, 2010
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Kitchener Waterloo Real Estate Update October 2010
Regular readers of this blog will know by now that this monthly update is designed to answer the frequently asked question "How's the market?". The residential real estate market in Kitchener Waterloo continues to be a sellers market. Active residential listings on the K-W MLS at the end of October stood at 1251. Of this total, 403 were new homes and 848 were resale properties. ...
Posted by Jeff Gingerich
on November 2, 2010
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Kitchener Waterloo Real Estate Update September 2010
The 4 month trend showing year-over-year monthly declines was broken in September as the 371 residential MLS sales in K-W were virtually identical to September 2009 results of 369. The average days on market for September sales was 43 versus 41 in September '09. The list-to-sale price ratio was 98% off slightly from the 98.2% a year earlier. The median ...
Posted by Jeff Gingerich
on October 5, 2010
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Kitchener Waterloo Real Estate Update August 2010
The Kitchener Waterloo real estate market continued to moderate in August. Residential MLS sales for August 2010 totalled 371 versus 472 in August of 2009, a decline of 21%. One bright spot was the median price for August sales rose to $254,000 from $238,500 last August. You'll recall from previous posts that the Government of Canada through the Bank of Canada and the ...
Posted by Jeff Gingerich
on September 4, 2010
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Is Kitchener Waterloo in a Housing Bubble?
The Canadian Centre for Policy Alternatives has just released a report titled 'Canada's Housing Bubble: An Accident Waiting to Happen'. The author is David MacDonald and he studied housing trends in the country's 6 biggest markets: Vancouver, Edmonton, Calgary, Toronto, Ottawa and Montreal. Among other data, he compares provincial median household income and ...
Posted by Jeff Gingerich
on August 31, 2010
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Record Sales in Million Dollar Luxury Homes in Kitchener Waterloo
Million dollar residential sales have set a record in Kitchener Waterloo in 2010. Luxury home sales over $1 million dollars on the Kitchener-Waterloo Multiple Listing Service have surged to 9 year-to-date. The average price of these sales is $1,481,444 and the average days on market is 100 days versus a brisk 37 days for the broader market. Sellers of these ...
Posted by Jeff Gingerich
on August 27, 2010
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Kitchener Waterloo Real Estate Alive and Well
There are days in real estate and in life where you come across things that just don't sit well. I usually try and think things through but sometimes I still end up like the photo above...puzzled. I found this gem while searching MLS for suitable properties for a buyer client.
I was equally puzzled by an article in today's National Post entitled "Variable ...
Posted by Jeff Gingerich
on July 28, 2010
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Million Dollar Luxury Home Sales Flourish in Kitchener-Waterloo
As noted previously, houses that sell for a million dollars are rare in Kitchener and Waterloo. In fact, the MLS database for the Kitchener-Waterloo Real Estate Board goes back to 1988 and only 34 such sales are on record. It may then surprise you to learn that 7 million dollar homes have sold through MLS already this year versus 4 in all of 2009. This is certainly encouraging ...
Posted by Jeff Gingerich
on June 4, 2010
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A Merry Month of May For Kitchener-Waterloo Real Estate
Residential real estate sales in Kitchener and Waterloo continued a strong run in May with 480 sales reported through MLS. Sellers remained in control of the market with an average list to sale price ratio of 98% and a brisk average of 34 days on the market. Resale homes accounted for 94% of these sales.
So how does this compare to May 2009? Unit sales actually declined ...
Posted by Jeff Gingerich
on June 3, 2010
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Kitchener-Waterloo Real Estate Update April 2010
Real estate sales in Kitchener-Waterloo continued a strong surge as April's 539 residential MLS sales represented an 11%increase over the 487 sales in April 2009. The average sale price of $285,643 spiked nearly 10% over last April's average of $259,802. The market still favours sellers as they received, on average, 98.7% of their asking price. The average days on market was ...
Posted by Jeff Gingerich
on May 14, 2010
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2009 Kitchener-Waterloo Real Estate Sales Surpass Expectations
The headlines are hard to avoid these days as the mainstream media rush to report December real estate sales in Canada at an all-time high. The Canadian Real Estate Association reports that the number of sales nationwide was up 7.7% in 2009 over 2008 and prices were up 5%, on average, versus a drop of 1% in 2008. As I've stressed before, markets are local and ...
Posted by Jeff Gingerich
on January 18, 2010
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