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Real Estate Markets – Week Ending April 29th, 2018

Spring Weather Brings Inventory to Local Real Estate Markets

The newest installment of our weekly real estate markets update shows an uptick in new MLS listings! After weathering a Spring ice storm just two weeks ago we see that more houses for sale in Cambridge, Waterloo, Kitchener and Guelph have come to market. For a market hungry for more inventory buyers welcome any new listings.

Are you considering making a move? Check out our buying smart series for buyer tips: https://primepropertieson.com/real-estate/buying-smart-series-march-2018/ . Selling or wants some tips? Peak our Facebook page where we are posting great content reviewing our Spring Seller Series: https://www.facebook.com/pg/primepropertieson/posts!

Waterloo & Wellington Region Real Estate Markets – MLS Listings Stats Breakdown

New Listings: 411

Sold Pending: 300

Sold Closed: 200

Cancelled & Expired: 95

Active Conditionally Sold & Not Showing: 138

Price Increase: 13

Price Decrease: 90

Back on Market: 26

Sunshine Brings Few More Listings To Real Estate Markets

For the week ending Sunday April 29th, 2018 our MLS Listings stats show an overall increase in volume. The Waterloo and Wellington region real estate markets had 411 New Listings, 26 more than the previous week. In addition our real estate market had 300 Sold Pending listings, 21 fewer than the week before. Conditionally sold listings for the past week totalled 138 compared to 142 the previous seven days. The spread between sold pending listings and new listings grew this past week. This means slightly more inventory for buyers!

To summarize the other stats our real estate market had 200 listings sold closed as well as 95 expired and cancelled listings. There were 103 listings with price changes compared to 85 the previous week.

Realtor’s Notes

The real estate market stats for the past seven days are in line with seasonal expectations. It is nice to see more inventory but our market has yet to receive a significant increase in available listings. We will remain in a seller’s market until we get more inventory or buyer demand cools significantly. Overall a fairly predictable week in the Waterloo and Wellington region real estate markets.

 

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MLS Listings Stats Week Ending April 22nd, 2018

Sellers’ Market Continues to Roll!

MLS Listings stats from Waterloo and Wellington region reveal little surprises for the week ending April 22nd, 2018. Marginal increases to new listings and sold pending listings are in line with seasonal trends. Now that the sun is out, and the snow is gone until next winter (hopefully) we can expect to see a steady increase of new listings coming to market over the next month or two. With slight increases in new listings, we can expect to see comparable increases to sold pending and conditionally sold listings. THis is because there are a comparable number of buyers to sellers currently active in our markets. If we continue to see comparable increases to sold and new listings we can expect our sellers market to remain for the time being.

Waterloo & Wellington Region Real Estate – MLS Listings Stats Breakdown

New Listings: 385

Sold Pending: 321

Sold Closed: 158

Cancelled & Expired: 70

Active Conditionally Sold & Not Showing: 142

Price Increase: 12

Price Decrease: 73

Back on Market: 29

Another Spring, Another Sellers’ Market

After braving the spring snow storm just one week ago our real estate markets experienced a slight increase in overall volume. MLS statistics showed 385 new listings this past week compared to 348 new listings the previous week, an increase of 40. This past week out markets saw 321 sold pending listings compared to 308 the previous week. These marginal increases to both key metrics are in line with seasonal trends. As well, their increases are comparable to each other meaning we are still in a sellers’ market. This is remain the case until we see a significant increase to new listings compared to sold pending and conditionally sold listings, leaving more inventory for buyers.

In review of other numbers there was a 50% increase in sold closed listings compared to the previous week. Price adjusted, cancelled and back on market listings were all fairly comparable to the previous week’s figures.

Realtor’s Notes

Overall the MLS listings stats for Waterloo, Kitchener, Cambridge, Guelph and the surrounding cities are showing that we are still in a fairly strong sellers’ market. This trend is expected to continue as inventory remains low and mortgage financing remains historically inexpensive. Inventory remains low as the development process remains slow and construction costs remain high. As for mortgage financing, we are expected to see interest rates increase this year, at least once. This will likely squeeze those that are on the fringe out of the market. Increases to interest rates will be marginal and are not expected to push a significant number of buyers completely out of the market.

For more commentary on real estate markets and how they are changing join us on Facebook www.facebook.com/primepropertieson/. Want more details, to share your opinion or talk real estate? Drop us a comment or get in touch via our contact page!

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MLS Listings Stats Week Ending April 15th, 2017

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 Pending: 308

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.

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MLS Listings Stats Week Ending April 8th, 2017

Houses For Sale in Cambridge, Kitchener, Waterloo & Guelph!

A welcome boost to real estate inventory means more houses for sale in Cambridge, Kitchener, Waterloo and Guelph. This signals unofficial beginning of Spring market! MLS listings stats show a big jump in new listings with more and more sellers coming to market (455 this week compared to 258 the week before). This brings much more selection to buyers but due to the seasonality of our real estate market you can expect the amount of active buyers have increased as well. Regardless, the real estate markets in the major market centres of Waterloo, Kitchener, Cambridge, and Guelph are still in strong sellers markets. This signals that it is still a great time for sellers to list.

Waterloo & Wellington Region Real Estate – MLS Listings Stats Breakdown

New Listings: 455

Sold Pending: 256

Sold Closed: 201

Cancelled & Expired: 107

Active Conditionally Sold & Not Showing: 154

Price Increase: 5

Price Decrease: 75

Back on Market: 17

Significant Increase to Inventory Kicks of Spring Real Estate Market

The Waterloo and Wellington regions experience a welcome increase in new listings coming to market with 455 new listings in the last 7 days. This compared to just 280 new listings the previous week shows that our spring market has arrived! Houses for sale in Cambridge, Waterloo, Kitchener and Guelph increased primarily due to the seasonality, as well as the timing of national holidays which typically causes sellers to push listing dates. It is important to note that inventory has been particularly low for the first three months of 2018 coming off new regulation changes and an extended Winter. This has maintained the region’s strong seller’s market that is extending into two, almost three years dating back to 2015.

To summarize the other notable stats we had a comparable number of sold pending and conditionally sold listing to the previous week. Sold pending listings for the last 7 days was 256 compared to 258 the previous week. Conditionally sold listings were 154 this past week compared to 150 the previous 7 days. Additional numbers for Cancelled, sold closed, back on market and price decreases remained similar to the previous week with nothing significant to report.

Overall we expect the seasonal trends to continue through the coming weeks. With more inventory and more pleasant weather we can expect more available inventory and more active buyers. Stay updated on market trends, newest listings, and the best buying and selling strategies with us on Facebook and our website! Comment and share what you would like to see and stay tuned for more great content.

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MLS Listings Stats Week Ending April 1st, 2018

MLS Listings in the Waterloo and Wellington regions took a step back this week, primarily due to the Easter long weekend. With most people off work travelling and enjoying quality family time Easter is traditionally slower in terms of new inventory coming to market. New MLS listings totaled 280, just over 100 less when compared to the previous week (392). Is this the calm before the storm that is the Spring real estate markets of Waterloo and Wellington?

Waterloo & Wellington Region Real Estate – MLS Listings Stats Breakdown

New Listings: 280

Sold Pending: 258

Sold Closed: 186

Cancelled & Expired: 84

Active Conditionally Sold & Not Showing: 150

Price Increase: 9

Price Decrease: 64

Back on Market: 30

Summary & Commentary

With another great Easter weekend in the books let’s compare houses for sale in Waterloo and Wellington regions to our first few weeks of Spring! MLS listings stats show that there were just over 100 fewer listings coming to market but had 7 MORE homes sold pending compared to the previous week. This differential between New Listings and Sold Pending shows that our markets had a large chunk of available listings purchased in the past week! This is largely due to the seasonality of our markets and the Easter long weekend. We can expect to see a significant increase in active listings this time next week and likely the week after.

Some additional noteworthy points are the large increase in sold closed (188 compared to just 80 the previous week), this is mainly due to the long weekend. It’s fairly common for many sellers and buyers to move the week of a long weekend to give them more time and flexibility to handle their move. Another interesting number to monitor is the amount of conditionally sold properties (“Active -NS” and “Active -CS”). There were 150 conditionally sold listings last week, an increase of 30 compared to the previous week (120). If this number continues to grow this can seriously change the buying and selling strategy compared to how our markets have been in the past year or two.

Stay tuned or ask us how an increasing number of conditional offers affects your buying or selling strategy! As always stay connected with us on social and leave us a comment or question below.