Simplified Market Update: April 2019

A Slide and a Climb — A highly competitive market, particularly under the $500,000 price range appears to have had an impact on those buying semi-detached, townhomes and condos which were all down in sold numbers.

In March, we saw the number of homes sold slide with 511 residential sales.  There was a  5.7% decrease compared to March 2018 and a 7% decrease compared to the  the previous ten-year average for March.

Condos and townhomes are down 11-15%, while semi-detached homes took a big hit with a 37.5% drop in sales.

However, those with larger budgets have continued to push the sold prices up on single detached properties with a 3.2% increase. 

Cindy-lou’s Simplified Market Update

NUMBER OF SALES:  March 2019 compared to March 2018

  • 325 detached homes were sold in March (up 3.2% )
  • 45 condominium units (down 11.8%  which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.)
  • 116 freehold townhouses (down 14.7%).
  • 25 semi-detached homes (down 37.5%)

AVERAGE SALES PRICE SUMMARY: March 2019 compared to March 2018

The average sale price of all residential properties sold increased 3.4% to $505,855.

Broken down by style of home:

  • Detached homes sold for an average price of $585,668 (up 0.8%)
  • Apartment style condominiums increased by $320,857 (up 7.5 per cent).
  • Townhomes sold for an average of $372,003 (down 1.0%)
  • Semis sold for an average of $422,360 (up 6.4%)

HOMES LISTED ON MARKET: March 2019 compared to March 2018

Realtors listed 797 residential properties in K-W and area last month, a 4.8% decrease

  • 4.5% decrease compared to the previous ten-year average of 1296 listings for March
  • Total number of homes available for sale in active status at the end of March totalled  819, an increase of 5.4 %, but still well below the previous ten-year average of 1,371 listings for March.

WHAT’S NEXT?

Sellers: Demand for homes is keeping the price rising but at much more reasonable rates of growth. Don’t get complacent – clean, stage, repair, choose the right REALTOR® to partner with.

This is the third month in which home prices are rising between the traditional or “normal” 3-5% rate of price growth for Waterloo Region.

Buyers: Waterloo Region remains a desirable place to live! Be an active and purposeful buyer on homes you are genuinely interested in especially if you’re looking for a home or investment under $500,000.


I hope you enjoyed our Simplified Market Update! We strive to keep you informed and aim to elevate your life through smart real estate decisions.

Cindy-Lou Schmidt
Cindy-Lou Schmidt

Broker / Manager
 
 
Cindy-Lou is a dedicated Broker/Owner and REALTOR® based in Waterloo who is proud to serve her hometown and community. She is adamant in the value of home ownership both for the financial and wealth benefits, but also as a foundation of healthy communities. With 7 years in the real estate business, and as a private investor since 2005, her experience and strategic approach to homes sales has been pivotal in building loyalty with her clients over the years.

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