Sustainable housing and real estate in Kitchener-Waterloo Region


Is it a good time to buy/sell?

Despite the current economic conditions, the Kitchener-Waterloo market is still fairly healthy. Last month’s sales volume was the fifth highest ever recorded for an  April in the region, with overall property values still remaining high. The Average sales price for a residential properties has dropped by about 1.8% since last year’s record breaking year, but when put into perspective, this year’s average sale price is still up 4.2% since 2007, and has increased more than 42% since 1999. Values remain relatively high overall. The average sale price for single family detached home is currently sitting at about $289,838 and the average sale price for a semi-detached property is $196,429. Freehold townhouse units are sitting at $241,298 and condominium unit’s average sale price is about $161,138.

There were 632 homes sold in the K-W in April, a 27.4% increase from March of this year. Almost 10% of these sales were new home sales, with the other 90% in resale homes. The majority of buyers were purchasing properties priced between $225,000 and $249,999. Some highlights this month were seen in the number of units sold in the $400,000 to $500,000 price range, which increased by a significant 31.6% since this time last year, and the average sale price for freehold townhouses jumping by over 16.7% since March as new homebuyers are taking advantage of historically low interest rates. Most lenders in Canada have slashed their 5 year interest rates to below 3.95% for qualified clients, meaning the costs of carrying a mortgage have dropped significantly.

West Kitchener had the most sales in April with 231 residential sales. East Kitchener had 73 sales, West Waterloo had 110 sales and East Waterloo had 78 sales. Cambridge sales are up significantly from this time last year (by more than 50%), with the majority of sales happening in Hespeler. There is a great stock for buyers to choose from, with more than 861 new listings processed last month, and over 2,000 residential properties on the market.

A properly marketed and prepared home will sell in this market and receive a competitive price. Buyers currently have lots of options on the market, and great interest rates for their mortgages that are only probably going to climb higher and higher in the upcoming months. Now is a definitely a great time to buy or sell!

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1 Comment so far
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I guess people continues to buy in the region because it is quite attractive, I guess it is a great time to sell now that there are more buyers

Comment by Costa Rica property




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