The demand for great homes still sky high in Kitchener-Waterloo and in Waterloo Region, but some types of properties are now seeing a little bit of resistance from homebuyers, meaning day on market is expanding, and prices for certain homes and types of properties are under pressure to stay where they are or even move down.
How’s the Kitchener-Waterloo Real Estate Market?
In this monthly market update I show that although the market has cooled down, demand for great homes is still sky high. The average SP/LP ratio is at about 13% but the homes on my list are still at least 5% higher than that.
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What’s happening in Waterloo Region Rural Real Estate
April statistics of listings and sales
There were 105 homes sold last month in the rural towns and townships through the Kitchener-Waterloo Real Estate Board.
The average list price for homes sold in Rural Waterloo Region last month was $803,195.
The average sold price for homes sold in Rural Waterloo Region last month was $896,030 (12.54% over list price).
The average days on market for these sales was 11.
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Kitchener-Waterloo Real Estate 7-Day Market Update
New listings: 190
Homes sold: 183
Conditional Sales: 23
Average days on market: 12
Median days on market: 8
Average list price: $648,641
Average close price: $737,348
Average SP/LP: 114.09%
Median list price: $599,900
Median close price: $700,000
Median SP/LP: 115.02%
The Cost of Selling Your Home
The average cost of selling a home is $21,000.
6 typical types of costs associated with selling your home
Real Estate Commissions 4% of sale price
Closing Costs 2% to 4% of sale price
Staging costs $500 – $3000
Holdover costs (for the period that you are owning two homes)