Kitchener-Waterloo Real Estate Market Update September 2018
|Kitchener-Waterloo Real Estate Market Update|
| Home sales up compared to same time last year.
August home sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 0.8 per cent compared to last month and up 4.8 per cent compared to August of last year.
A total of 505 residential properties sold in August compared to 482 the same time last year. The average days it took to sell a home in August was 28 days, compared to 26 days in August 2017.
“For the first time this year we saw monthly home sales increase on a year-over-year basis,” says Tony Schmidt, KWAR President. “On a year-to-date basis, we’re still well below last year’s record-breaking number of home sales but still in line with historical averages.”
Residential sales in August included 301 detached (up 5.2 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 35 semi-detached homes (down 30 per cent) and 33 freehold townhouses (no change).
The average sale price of all residential properties sold in August increased 11.5 per cent to $493,358 compared to the same month a year ago. Detached homes sold for an average price of $583,564 an increase of 13 per cent compared to August of last year. During this same period, the average sale price for an apartment style condominium was $335,827 an increase of 14.1 per cent. Townhomes and semis sold for an average of $350,803 (up 4 per cent) and $401,011 (up 13.6 per cent) respectively.
The median price of all residential properties sold last month was up 10.4 per cent compared to August of last year at $458,000, and the median price of a detached home during the same period increased 18.1 per cent to $543,450.
REALTORS® listed 670 residential properties in K-W and area last month, up 12.7 per cent compared to August of 2017, and 3.4% above the historical (2007-2016) average of 648. The number of active residential listings on the KWAR’s MLS® System to the end of August totalled 917, which is 11.5 per cent higher than August of last year but still significantly below the historical (2007-2016) ten-year average of 1,550 listings for August.
“More homes selling in the higher prices ranges in August were at least partly responsible for the increase in the average sale price,” notes Schmidt. “But strong demand on the buying side combined with low inventory on the listing side is continuing to keep upward pressure on prices.”
Schmidt is encouraged by the increase in residential listings coming to market in August and hopes to see even more homes listed on the MLS® System in September. “I certainly don’t see interest in Waterloo region as a place to live and work slowing down anytime soon, so we could definitely stand to see some more housing supply.”
|Oktoberfest Celebrations in Kitchener-Waterloo|
| There’s so much to do in K-W during the month of October!
October is a busy month for K-W with a variety of pumpkin patch farms and Halloween themed activities taking place in and around the Region.
Our biggest event, of course, is Oktoberfest which this year runs from Friday, October 5th to Saturday, October 13th so mark your calendars now!
This year marks the festival’s 50th anniversary and to celebrate this milestone, Oktoberfesters will be able to enjoy a truly authentic Bavarian experience with a new specialty beer that’s brewed in the heart of Bavaria!
The various festhalle events are extremely popular but there are also over 40 different family and cultural events that are part of the celebrations. Friends, family and having a great time is what the ultimate Oktoberfest experience is all about. Prost!
|Fall Fix-Ups: Don’t Let Your Home Fall Apart|
| Stave off winter breakdowns by tackling tasks ahead of time!
Taking the time to regularly maintain your property is critical as it helps protect your most valuable investment.
It’s also much more cost effective to proactively fix small problems as opposed to fixing them once they're past the point of no return.
Regular maintenance should be part of your routine so here’s a fall home maintenance checklist to help keep you organized:
Preventative maintenance will help ensure small problems don't turn into big headaches that need professional attention on short notice. Just a little time and planning will help you maintain your home's value and you'll also save money each month as your home will be much more efficient.
|Extraordinary Uses for Epsom Salt|
| This versatile household staple has an array of surprising uses!
Most of us know that adding Epsom salts to your bath helps relax muscles and relieve stress but here are a few lesser-known reasons why you should always keep Epsom salt in your home:
These are just a few of the many ways you can use this inexpensive, natural product that can be found at any drugstore. This mineral mixture has many more uses so make sure you stock up because once you’ve completed all that cleaning and gardening, you’ll want a long soak in the bath!
|Pet Parenting? Yes, there’s an app for that!|
| Pet Parenting? Yes, there’s an app for that too!
As proud pet parents, we’re always looking for ways to make our furry friends’ lives better.
There have been huge advances in smart home technology for pets but with these apps, all you need is your smartphone!
Be a plugged in pet owner and let these handy tools help keep your pet healthy and happy. All apps are available for both Android and iOS and none of them cost a cent!
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