MLS Waterloo Region Stats
2018 third quarter is in the books! This month in review of MLS Waterloo Region stats we are going to quickly review price trends and inventory. In addition we are going to discuss what trends we can expect for Q4 relating to buyers, sellers and investors.
Prices, Days on Market & Inventory Numbers
In September we saw properties move a little bit more quickly with average days on market at 17 compared to 19 in August. We will traditionally see more closings in August as those buyers and sellers will be moving before the school year. September usually has more sales compared to August as buyers and sellers that are trying to move before Winter starts will look to make that happen in early Fall.
Note the median listing price saw a slight increase from August to September hitting that $500,000 mark! In summary, we saw properties sell a little quicker and listing price was slightly higher than in August.
Inventory numbers saw slight increases as well. Inventory increased to just over 2.5 months. This is great news for the overall health of our markets but not enough to really “move the needle” into a more balanced market. Waterloo region is still in a sellers market and we have not seen a balanced market since 2015..
Realtor Remarks – Q4 Expectations
Here at Prime Properties Ontario we watch weekly and monthly market stats to keep updated on key market trends. Here are a few key points to consider:
- Healthy number of new listings came up in September, expect some more for October
- Prices holding steady – ticking upwards even!
- Most listings are not holding off on offers
- Deals to be had for buyers
September and the first few days of October we have seen an uptick in new listings as sellers push to get their home on the market and sold before buyers disappear for the Winter. Compared to the past 12-18 months we have seen more and more great deals for buyers come up in the past 30-60 days. We expect there to be good value for buyers and investors as we get into Q4. Note, average prices will continue to trend upwards so sellers can still take advantage of that. We typically see more motivated sellers, and less competition in the later months of the calendar year. This presents great opportunities for buyers and investors!
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