MLS Kitchener, Waterloo, Cambridge & Guelph Listings Stats Update
Real Estate stats for the week ending April 15 for the Waterloo & Wellington region show our markets are following seasonal trends. Our markets have seen more new listings and sold pending transactions then previous months. This is primarily due to weather and seasonal trends. When compared to the Spring markets over the past few years we are experiencing similar numbers of new listings in our local markets. That being said, we are still in a seller’s market with inventory in our markets remaining fairly low.
Waterloo & Wellington Region Real Estate – MLS Listings Stats Breakdown
New Listings: 348
Sold Closed: 103
Cancelled & Expired: 85
Active Conditionally Sold & Not Showing: 158
Price Increase: 10
Price Decrease: 72
Back on Market: 20
Spring Snow Storms Temporarily Pause New Listings Coming To Market
Southern Ontario was hit by a nasty snow and ice storm this past weekend likely putting some new listings on hold. Weather is always a significant factor to consider when analyzing market stats. The poor weather likely the main cause for almost 100 fewer new listings coming to market this week compared to last week.
We saw 348 new listings coming to market in the last 7 days compared to the 455 new listings the week prior. That is a difference of just over 100 properties. That being said, we are still comparable to the previous spring in terms of available inventory. In the past week our market had 308 sold pending compared to 256 the previous 7 days. It is important to note the “net new listings” in our market. We saw 348 new listings and 308 sold pending listings leaving only 40 net new listings. This compared to the previous week which saw 199 net new listings. Low levels of net new listings are a strong indicator that there are a comparable number of buyers to sellers in our markets. This signals we will remain in a strong seller’s market for the foreseeable future.
Additional points to note include price changes, sold closed, and conditionally sold numbers. Waterloo and Wellington real estate markets had 72 listings that price decreased and 10 listings that price increased. These numbers remain low and indicating that most listings are selling without pricing changes. There were 158 conditionally sold properties this week and 154 the week before. Finally, our markets saw a fair decrease in sold close properties this week compared to last week.
Overall, we are not seeing any major surprises in our market’s underlying stats. We can expect the number of new listings to fluctuate between 300-400 new listings on a week-to-week basis for the next few months. If that does happen, and we continue to see comparable numbers of sold pending listings, the real estate markets in Waterloo and Wellington region will continue to be strong seller’s markets.