Kitchener-Waterloo Real Estate Market Update November 2019

Kitchener-Waterloo Real Estate Market Update November 2019

K-W Real Estate Market Update 
Strong home sales continue in the face of low inventory.

538 residential properties sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in October, an increase of 4.1 per cent compared to the same month last year.
Home sales in October included 334 detached (up 11.3 per cent), and 65 condominium apartments (up 1.6 per cent). Sales also included 108 townhouses (down 6.1 per cent) and 31 semi-detached homes (down 18.4 per cent).
“Home sales were up again last month led by strong sales of detached single family properties,” says Brian Santos, KWAR President.
The average sale price of all residential properties sold in October increased by 9.1 per cent to $533,288 compared to October 2018. Detached homes sold for an average price of $610,840 (an increase of 6.2 per cent compared to October of last year.

During this same period, the average sale price for an apartment-style condominium was $333,895 for an increase of 6.7 per cent. Townhomes and semis sold for an average of $434,035 (up 11.2 per cent) and $461,590 (up 14.3 per cent) respectively.
The median price of all residential properties sold last month increased 12.4 per cent to $500,000 and the median price of a detached home during the same period increased by 8.3 per cent to $568,950.
The average days it took to sell a home in October was 22 days, which is three days fewer than it took in October 2018.
REALTORS® listed 670 residential properties in K-W and area last month, a decrease of 12.4 per cent compared to October of 2018, and a decrease of 3.3 per cent in comparison to the previous ten-year average for the month of October.

The total number of homes available for sale in active status at the end of October totalled 691, a decrease of 26.5 per cent compared to October of last year, and well below the previous ten-year average of 1,412 listings for October.

Months Supply of Homes for sale stood at 1.4 months in October, which is 26.3 percent lower than the same period last year. The previous ten-year average months supply of homes for October was 3.03.
“Seasonal strength in October is common as people to look to make moves before Winter. With a scarcity of listings, buyers continue to snap up properties in the Kitchener-Waterloo area at a robust rate,” says Santos.
In this highly competitive real estate market, Santos emphasizes the importance of working with a local REALTOR® who has a complete understanding of our unique region and its market dynamics.
The Kitchener Christkindl Market 
Make some memories at Canada's original German Christmas Festival!

The 23rd annual Christkindl Market at Kitchener City Hall is a four-day, indoor/outdoor event that lights up the heart of downtown Kitchener with magical holiday spirit!

A fantastic lineup of bands, choirs and dance groups will be performing on the huge outdoor stage along with a massive model train display, blacksmith demonstrations and a live nativity scene!

There will also be over 90 vendors offering a wide range of items to help you get a head start on your Christmas shopping. You can even pick up your Christmas tree!

At 5:45 p.m. on Thursday, December 5th, a candlelight procession will depart from Gaukel Street and Halls Lane towards Kitchener City Hall where the Grand Philharmonic Choir will perform, followed by the official lighting of Carl Zehr Square!

Be sure to set aside some time between Thursday, December 5th and Sunday, December 8th to experience the joy and magic of the Kitchener Christkindl Market. Ho Ho Hope to see you there!
Ho Ho Home Staging for the Holidays 
It’s important to carefully stage your home during the holidays.

Decorating your home for the holidays is a fun, festive tradition but if your home’s on the market, it’s important that buyers are still able to imagine themselves living there.

Here are a few staging tips to help make sure your home doesn’t appear too cramped or cluttered during this busy time of year:

  1. Curb Your Enthusiasm - Leave the huge inflatable Santa in the garage this year! A few lights and a tasteful wreath on the front door is all you need to elegantly accent your home.

First Impressions - Entranceways are usually quite cramped and dark so remove any unnecessary items and ensure you have adequate lighting.

  3. Deck the Halls (a little) - Keep decorations to a minimum as they make your home appear cluttered and never decorate unique, architectural features.

  4. Tree Time - A huge tree full of ornaments can make a room look cramped so opt for something smaller with some soft lights and a few tasteful decorations.

  5. Wrap it Up - Put away wrapping paper, tape, ribbons, etc. before showings. Don’t just stuff them in your closet though as buyers usually peek in cupboards to see how spacious they are.

  6. Holiday Cheer - Seasonal treats such as hot apple cider and holiday cookies will delight the senses and give your home a welcoming feel. It may also encourage buyers to stick around a little longer!

Although there are fewer buyers during the holiday season, they’re usually much more serious and there also aren’t as many listings to compete with. Your home will show beautifully if you use a few tasteful decorations to help draw attention to its best features, but keep them to a minimum so buyers aren’t overwhelmed, distracted or turned off.
Budget Bathroom Decorating Tips 
Update your bathroom without the hassle of a renovation!

It’s easy to update your bathroom even if you don’t have a huge budget or any renovation skills. Here are a few simple ways to give your tired bathroom a facelift:

  1. Mirror Mirror - A new mirror will make your space appear much larger.

  2. Green Space - Plants breathe new life into any space with minimal expense.

  3. Towel Service - Display a few rolled-up towels in a wicker box to help freshen things up.

  4. Lighten Up - Changing your light fixtures is an excellent way to brighten up your bathroom.

  5. It’s in the Details - Updating small details like hooks, towel bars, soap dispensers and curtain rings will make a huge difference!

When it comes to decor, bathrooms are an important but often overlooked area of the home. A few simple changes will add value without the expense of a full-on renovation which makes it a very wise investment!
Naturally Fighting the Common Cold 
It’s that time of year when cold and flu viruses spread like wildfire!

There may not be a cure for the common cold but there are certain steps you can take to reduce your chances of catching one. Here are a few natural remedies to keep in mind:

  1. Sour Puss - A teaspoon of apple cider vinegar mixed with ½ cup of water will help keep a cold at bay.

  2. Powerful Pepper - A cup of hot water with a ¼ teaspoon of cayenne pepper will help soothe a sore throat.

  3. Cold Cry - Slice up an onion and then boil it to make tea. Add a little ginger or lemon juice to help with the taste.

Hopefully the nasty viruses will pass you by this season, but it’s always good to be familiar with as many remedies as possible to help snuff out the sniffles. Here’s to your health this holiday season!

Related Posts: