February in Review

February in review

If you thought January was crazy, February was next level up crazy. Here are some of the things that happened…

Kitchener Waterloo Real Estate Market Report

Nothing has been typical about our housing market for a long time. January’s home sales were more active than what we typically see this time of year. There were 351 residential homes sold in January, an increase of 24.9% compared to January 2020. The previous 10-year average number of residential sales for January is 286.

3 Pandemic-Fueled Housing Trends to Watch

1 Buyer competition.

2 First-time buyers increase.

3 Suburbs and vacation homes grow in appeal.

What’s happening in Waterloo Region Rural Real Estate Year-to-date statistics of listings and sales

The average sold price for homes sold in Rural Waterloo Region year-to-date was 878,255 (12.67% over list price) with an average square footage of 2104.

The median sold price for homes sold in Rural Waterloo Region year-to-date was $777,500 (14.84% over list price) with an average square footage of 1705.

How’s the Kitchener-Waterloo Real Estate Market? 

Low inventory causing Bully Offers & High Prices in January and February.

Since September of 2020 inventory levels have been falling and prices have been rising. In this episode, you will see the high incidence of Bully Offers. 

Kitchener-Waterloo Real Estate 7-Day Market Update for the third week of February

New listings: 129

Average days on market: 13

Homes sold: 147

Average days on market: 13

Average list price: $614,709

Average close price: $722,420

Average SP/LP: 118.99%

9 Ways to Win a Real Estate Bidding War 

Winning a real estate bidding war doesn’t always come down to price. Here are some tactics to help make your offer stand out amongst the competition.

1. Get pre-approved for a mortgage

2. Go in with an all-cash offer

3. Provide a flexible timeline

4. Eliminate your conditions

5. Write a personal letter about why you are the perfect homeowners. 

6. Be faster than your competition 

7. Pay the future price

8. Don’t wait for offer day

9. Include a larger than required deposit with your offer.

What’s happening with 4 bedroom, homes in Colonial Acres?

In this episode of “What’s happening with…” we look at 4 bedroom, 2 garage homes in Colonial Acres/East Bridge. The ongoing inventory shortage is leading to higher and higher prices.

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