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Waterloo Region Real Estate – Slow September?

September 2019 Waterloo Region Real Estate Review

Waterloo Region real estate markets continue to experience periods of low inventory fueling consistent price appreciation. Although months supply numbers remained low in September sales volume increased compared to August 2019. Note that redevelopment of uptown Waterloo, downtown Kitchener and main transit routes throughout the region continue so we can expect to see short term fluctuations in the local condo market. Finally, the townhouse and semi-detached market segments continue to see the most aggressive price growth as affordability and availability are squeezed region-wide.

Waterloo Region Real Estate Key Market Stats

Average sale price across all property types in Waterloo region was $523,658 in September 2019. That is up from around $515K in August.

All listings were on market for an average of 22 days, down from 26 days in August.

Overall market supply was 1.6 months in September, flat compared to August 2019.

Waterloo Region Single Family Homes

Below are keys stats for the single family property type as well as Condos and townhouses/semi-detached properties afterwards.

Average Sale Price: $594,921 (UP almost $5,000)

Days on market: 22 Days (DOWN from 25 days)

Months Supply – Inventory: 1.8 Months (UP 0.1)

The average sale price of single family homes in the Waterloo Region real estate market was $594,921 in September. That is an increase of almost $5,000 from August 2019. The average days on market decreased from 25 days in August to 22 days in September. The months supply of single family homes in Waterloo Region increased by 0.1 to 1.8 months.

Waterloo Region Condos

We have great relationships with developers and sales representatives for the new condo developments in Waterloo Region. Waterloo, Kitchener and Cambridge have great options currently on the market and coming down the pipeline.

Ask us to stay updated on pre-release specials or buyer incentives we have access to!

Average Sale Price:  $332,862 (DOWN Approx $3,000)

Average Days on Market: 33 Days (DOWN 11 Days)

Months of Inventory: 2.6 Months (Same as August)

Underlying stats Waterloo Region condo market remains a little more volatile compared to other market segments. Average sale price for Waterloo Region condos fell almost $3,000 in September compared to August 2019. The average days on market fell significantly from 44 days to 33 days. Finally inventory numbers remained the same from August to September with 2.6 months of inventory. Although some key stats in the Condo market are fluctuating we expect consistent growth in average sales price, as well as supply to remain around 2-3 months of inventory in the final quarter of 2019.

Waterloo Region Townhouses & Semi-Detached

Check out the key stats on this market segment below! Want more information on this segment? Drop a comment or contact us here.

Semi -Detached average sale price was $450,151 (UP almost $14K)

The average days on market was 20 days (DOWN 2 days)

Townhouse average sale price was $439,151 (UP almost $19K)

There was just 0.9 months of inventory in September 2019

Below you can review the average sale price for townhouses and semi-detached listings in Waterloo Region between January 2018 and September 2019.

Realtor Notes

In review of the Waterloo Region real estate markets we can see that the overall market increased in average sale price fueled by single family, semi detached and townhouse price growth. As noted above, the condo segment experiences more volatility month to month but buyers, sellers and investors can experience long term growth to steadily climb.

Last month’s blog post we predicted that September would bring more inventory for buyers. Unfortunately for buyers, that was not the case. Across each market segment we noticed inventory numbers remained very similar in September compared to August. That means that Waterloo Region real estate markets remain in strong sellers markets as there are limited options for buyers in virtually every price point and segment. Note the townhouse and semi detached segments are experience extremely low inventory! This is a strong factor contributing to the aggressive price appreciation in those segments.

Stay connected with us on our socials for listings, market stats, professional insight and advice. You can also check out other helpful topics we cover on our real estate blog here.



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Kitchen Design Trends Guide 2018

6 KITCHEN TRENDS FOR 2018

While white kitchens will remain popular in 2018, expect to see more color this year in everything from cabinets to tile to appliances. In real estate, the kitchen is the focal point of your home and are usually the largest single investment in your property. Here is what is hot in kitchen trends for 2018!

 

1. Two-toned Cabinets

Two-toned cabinets are quickly overtaking the white-on-white look that has dominated kitchen design for the past few years. While white remains a classic, grey and bleached-wood cabinet variations are surging in popularity, along with darker neutrals like navy and green.

2. Quartz Counter Tops

Granite reigned as the top counter top choice for many years, but quartz is now king. It’s highly durable, low-maintenance and comes in a wide variety of styles and colors. It’s also heat resistant, scratch resistant and non-porous (unlike granite and marble) so it doesn’t need to be sealed.

3. Bold Backsplashes

After years of dominating backsplash design, the white subway tile is officially on its way out. Expect to see it replaced with more elaborate shapes, patterns, colors and textures. Tile that mimics the appearance of wood, concrete and wallpaper is also gaining in popularity.

4. Statement Sinks

While stainless steel and white porcelain are always safe bets, the trend is moving toward sinks that make more of a statement. Look for unexpected pops of color and materials like natural stone and copper. Touch-free faucets are expected to gain favor with homeowners this year, too.

5. Multi-purpose Islands

Many feature sinks, built-in appliances and under-counter storage while also serving as a casual dining area. They have become the focal point of the kitchen.

6. Black Stainless Steel

Black stainless steel is the hot new finish option for appliances, and it’s hitting the market in a big way. It offers a cutting-edge look and is easier to keep clean than traditional stainless steel. However, it’s harder to match finishes amongst different brands, so it’s probably only feasible as part of a complete appliance package.

What’s Cooking in Your Kitchen?!

Beautiful kitchens are the envy of home owners and potential buyers. A Kitchen renovation is a big project but can bring an even bigger return on your investment. When in doubt, you can be sure that investing in a kitchen renovation will not only help you and your family enjoy the most popular room in your home but also yield a great return in the real estate market!

What have you done to your kitchen? Were you ahead of the times and already capitalized on some of these hot trends? We would love to see your renovations and share ideas!

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Your Guide to Bathroom Trends in 2018

5 Hot Trends for Bathrooms in 2018

Bathroom renovations are one of the most cost-effective ways to add value to your home! Here are the top 5 bathroom trends we are seeing in 2018.

 

1. Neutral Tones

Neutral shades will continue to dominate in the master bathroom as homeowners seek a soothing and relaxing retreat atmosphere. But expect to see more options than just white. Shades of brown, grey, blue, green and tan will help to warm things up.

2. Natural Elements

Natural materials are particularly hot right now in bathroom design. This includes the use of wood and stone on walls, cabinets, counters and backsplashes, as well as the incorporation of botanical design elements.

3. Large Tiles

We expect to see a lot more large and slab-sized tiles in bathrooms, which have less grout so they are easier to clean and maintain. Wood-look porcelain tiles are also a favorite in wet areas, as they offer the warmth and rustic appeal of wood with the durability of tile.

4. Freestanding Tubs

There’s been a tub resurgence in bathroom design after years of preference for stand-alone showers. Modern tastes are gravitating toward freestanding tubs that serve as a showpiece for the bathroom.

5. Smart Features

Smart technology has entered the bathroom with the addition of features like wireless shower speakers and high-tech toilets, as well as digital shower controls that automatically adjust to your preferences in temperature and spray intensity.

 

Recently Renovated Your Bathroom? Thinking of Redoing a Bathroom Soon?

If you have recently renovated your bathroom did you capitalize on any of these trends? We’d love to see your work! Share in the comments, sends us a picture, let us know how it went!

 

For those of your planning on renovating a bathroom, is this going to be a DIY project or are you using a contractor? If you want some advice from professionals get in touch! We love helping our community with their next home renovation project and would be happy to make any recommendations and refer you to local construction professionals.

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Home Design Trends to Watch in 2018

WHAT’S HOT NOW

What colors and styles are most popular among buyers in your area? How can I add the most value to my home? While 2017 was all about millennial pink, brass fixtures and bright white kitchens, this year we expect to see a move toward warmer, cozier elements throughout the home.

1. Warm Colors

A cool color scheme has dominated home design in recent years, but this year warm neutrals like brown and tan are back, along with rich jewel tones.

2. Cozy Elements

We can expect to see a shift from stark, modern design to cozier looks. Natural elements, like wood and stone, will heat things up this year.

3. Bold Patterns

Expect to see a lot of bright, bold patterns in the form of geometric shapes and graphic floral prints. These will be featured on everything from furniture to throw pillows to tile.

4. Natural Elements

Look for the use of natural elements throughout the home, including wood, stone, plants, flowers and grass. Botanical patterns will also be seen in prints, wallpaper and upholstery. Concrete accents will complement these additions in an effort to bring the essence of the outdoors inside the home.

5. Feature Walls

Also called an accent wall, a feature wall is one that exhibits a different color or design than the other walls in the room. Expect to see an increased use of feature walls showcasing rich paint colors, bold patterned wallpaper, and textures brought in through millwork and shiplap.

6. Statement Lighting

Lighting will take center stage with distinctive fixtures, including local artisan and vintage pendants and chandeliers. And smart lighting technology will enable homeowners to customize their lighting experience based on time of day, activity and mood.

7. Hardwood Floors

Hardwood floors will continue to dominate the market. The trend is toward either very dark stains paired with light-colored walls or light stains with darker walls. Greyish tones will remain popular, as will matte finishes, which are easier to maintain than high gloss.

8. Smart Homes

Everything is getting “smarter” in homes, from locks and lights to thermostats and appliances. And with devices like Google Home and Amazon Alexa, you can control many of these with voice activation from a central hub. We will see continued integration of and advancements in smart-home technology in 2018.

OUR ADVICE

For major renovation projects, it is important to consider why you are renovating. Is this a project for you and your family to enjoy? Or is this primarily to improve the value for resale? Regardless, it’s always a good idea to stick to neutral colors and classic styles. It will give your remodel longevity and appeal to the greatest number of buyers when it comes time to sell. It will also give you flexibility to update your look in a few years without a total overhaul. Use non-permanent fixtures – like paint, furniture and accent pieces – to personalize the space and incorporate trendier choices.

If you’d like advice on a specific remodelling or design project, give us a call! We’re happy to offer our insights and suggestions on how to maximize your return on investment and recommend local shops and service providers that we know and trust.