Kitchener-Waterloo Real Estate Market Update December 2018

Kitchener-Waterloo Real Estate Market Update December 2018

Kitchener-Waterloo Real Estate Market Update 
November home sales were second best on record!

Last month a total of 483 residential properties sold in Kitchener-Waterloo and area through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR).

Home sales were up 14.2 per cent in November compared to the same month last year, and up 19 per cent compared to the previous 10-year November average of 406 sales, making it the second-best November on record.

November’s sales included 265 detached (up 9.5 per cent compared to November 2017), and 152 condominium units (up 52 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 27 semi-detached homes (down 46 per cent) and 31 freehold townhouses (up 14.8 per cent).

“For the second straight month we are reporting stronger than average sales,” said KWAR President Brian Santos. “The prospect of further interest rate increases that were indicated last month could be responsible for the current surge in home sales.”

The average sale price of all residential properties sold in November increased 7.6 per cent to $477,526 compared to the same month a year ago. Detached homes sold for an average price of $580,551 an increase of 12.8 per cent compared to November of last year. During this same period, the average sale price for an apartment style condominium was $305,334 an increase of 10 per cent. Townhomes and semis sold for an average of $361,177 (down 2 per cent) and $416,878 (up 10.7 per cent) respectively.

The median price of all residential properties sold last month was up 6.3 per cent compared to November of last year at $443,800 and the median price of a detached home during the same period increased 9.5 per cent to $520,000. “Waterloo region continues to be a very desirable place for purchasing a home,” says Santos.

“Affordability is a concern in Waterloo Region as we continue to see prices increase, especially for detached homes. While we believe this is more a reflection of our region being “discovered” by buyers from the GTA, it is resulting in more entry-level clients pursuing condominiums and townhomes. Combined with an ongoing tight supply of listings buyers are facing continued upward pressure on sale prices in the region.”

REALTORS® listed 597 residential properties in K-W and area in last month, a 1.1 per cent decrease compared to November of last year, but 18.2 per cent above the historical ten-year average of 505. However, the number of active residential listings on the KWAR’s MLS® System to the end of November totalled 888, which is 12.8 per cent lower than November of last year and 449 units fewer than the previous ten-year average of 1,337 listings for November.
New Year's Eve Celebrations in K-W 
Make it a New Year's Eve to remember with a family-friendly celebration!

The cities of Kitchener and Waterloo will both be hosting family-friendly New Year’s Eve parties on Monday, December 31st to officially ring in 2019!

Waterloo Public Square will be the venue for the City of Waterloo’s festivities. The fun kicks off at 6 p.m. where you can skate around the rink to the sounds of a live DJ! Agnes from Mindful Makers will be putting on an interactive wearable activity and there’s even a fire and ice photo booth where you can capture your memories forever before the early live countdown at 9 p.m!

The City of Kitchener, on the other hand, will be holding a Ghostbusters themed New Year’s Eve celebration at City Hall with cool decorations, photo opportunities and lots of fun activities! Have your picture taken with a replica Ghostbusters vehicle, enjoy ice skating on Carl Zehr Square and be entertained by a live musical performance by Clean SL8 from 10 p.m. to midnight.

If you’re able to make the festivities, please consider bringing along a donation for the Food Bank of Waterloo Region as they need all the help they can get this time of year. Whatever you decide to do this New Year’s Eve, here’s wishing you a very happy and healthy 2019!
New Year's Resolutions for Your Home 
Think outside the box this year by setting resolutions for your home!

January opens up new possibilities for our health and wellbeing but have you ever thought about making resolutions for your home? Here are a few ideas to consider:

  1. Just Do It! - Tackle a major item on your to-do list such as cleaning out the basement or painting the bathroom.

  2. Cut Back - Seal and insulate your ductwork then set goals to reduce bills such as turning off lights and reducing water consumption.

  3. Plant It - There are many ways to improve the quality of your indoor air but start off by adding plants to naturally filter the air you breathe.

  4. Basket Case - Purchase baskets to organize everyday items such as remotes and controllers so they don’t just get tossed around the room.

  5. Keep it Clean - Take just 10 minutes each day to walk through and put everything back in its home. Get the entire family involved!

  6. Safety First - Make sure your carbon monoxide and smoke detectors are in good working order and that you have a family escape plan in place.

  7. The Purge - Go through your home one room at a time each month and purge any items you no longer have interest in and instead, fill your home with things that make you feel good.

In addition to the above tips, you can also introduce a new resolution for your home each month to help break up the year. For example, in January you can declutter, in February you can brush painting off your list and so on. Home is where the heart is, so it makes sense that a harmonious home will lend itself to a happier overall life.
Enjoy an Eco-Friendly Holiday Season 
A few small changes will have you dreaming of a green Christmas!

The holiday season is a magical time of year but it can also be a time of great waste. It’s easy though to enjoy Christmas cheer and still cut your carbon footprint. Here are a few ideas:

  1. Decorate Naturally - Bring the scent of nature into your home with evergreens, fir cones and cranberries.

  2. Think Outside the Box - All those gift bags, ribbons and bows account for an incredible amount of waste so try and reuse old wrapping paper.

  3. Light Up Mindfully - Everyone loves the twinkle of holiday lights but for the sake of the environment, use LED lights and remember to turn them off before going to bed.

  4. One, Two, Tree - Real trees take in carbon dioxide and release oxygen all while sustaining the local economy. Artificial trees, on the other hand, can't be recycled and may contain toxins.

The holiday season is a great opportunity to start eco-friendly family traditions that will hopefully be passed down for many generations to come. Better still, these methods are as easy on your wallet as they are on the environment!
Wildly Addictive Candied Pecan Recipe 
Not only are they delicious, but your home will smell amazing too!

Candied pecans are delicious! They’re so good that they’ll likely disappear before they make it to the salad, cake, gift jar or dessert they were intended for. Here’s how you make them:

  • 1 cup white sugar
  • 1 tsp ground cinnamon
  • 1 tsp salt
  • 1 egg white
  • 1 tbsp water (or substitute vanilla extract)
  • 1 pound of pecan halves

Preheat oven to 250°F and mix the sugar, cinnamon and salt together in a bowl. Whisk the egg white and water together in another bowl until frothy. Next, toss the pecans in the egg white mixture then coat the pecans with the sugar mixture. Finally, spread the coated pecans onto a baking sheet lined with parchment paper and bake for an hour, making sure to stir every 15 minutes. Enjoy!

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