MLS Listing Stats Week Ending March 25th, 2018
In review of MLS listings stats in Waterloo and Wellington Region increased in the past seven days. Spring has arrived and sellers are starting to come to market in larger volumes. New listings increased by 101 compared ot the previous 7 days, hello inventory! That is 392 New listings compared to 291. That accompanied by only 251 listings sold pending in the same time frame (an increase of only 1 from the week prior). This is a much welcome increase for buyers as we head into the spring!
Waterloo & Wellington Region Real Estate – MLS Listings Stats Breakdown
New Listings: 392
Sold Closed: 80
Cancelled & Expired: 72
Active Conditionally Sold & Not Showing: 120
Price Increase: 8
Price Decrease: 73
Back on Market: 25
Summary – Spring Inventory Starting Strong
The week ending March 25, 2018 saw the first day of Spring and a welcome increase of new listings. Houses for sale in cambridge, kitchener, waterloo and guelph markets increase by 101 units over the past seven days. This should provide some more options for active buyers. When looking at sold pending numbers there was only one more unit sold (251 sold pending) compared to 250 just one week ago. This along with the significant increase in new listings is a great sign for buyers looking to scoop something up early this Spring. Comparing other metrics such as sold closed, price decreases, active CS/NS and cancelled listings to previous weeks there is nothing noteworthy.
Seasonal moving trends in southern Ontario are likely playing the biggest role in the increase of inventory in local markets. MLS listings in Waterloo and Wellington region traditionally see significant increases around the end of March and beginning of April, as this marks the beginning of Spring. With Easter coming up this weekend we will likely see a larger increase in new listings one week from now. Typically buyers and sellers are more active the week following major holidays, mainly due to travel, time off work and family vacations.
If you’re hoping to do some house hunting this long weekend stay tuned for our open house update and houses for sale in Waterloo, Kitchener, Cambridge and Guelph! If you’re looking for resources to help with your property search send us a message we would love to get you set up with the best free tools.