MLS Listing Stats Week Ending March 18th, 2018
MLS listings stats for the week ending March 18th, 2018 there are 40 fewer houses for sale in Kitchener, Waterloo, Cambridge and Guelph as the previous 7 days in the market. In addition to less new listings in Waterloo & Wellington Region there were slightly more properties sold in the past seven days (250) compared to the previous week (241). This will further contribute to the inventory shortage plagueing the local real estate markets and driving prices upwards.
Waterloo & Wellington Region Real Estate – MLS Listings Breakdown
New Listings: 291
Sold Closed: 124
Cancelled & Expired: 78
Active Conditionally Sold & Not Showing: 142
Price Increase: 7
Price Decrease: 67
Back on Market: 31
Summary – Why Inventory is so Low..
MLS listings data shows us that there are fewer houses for sale in Cambridge, Kitchener, Waterloo and Guelph than the previous week. We are one week closer to Spring but little has changed. We saw comparable number of price increases and decreases. As well as similar number of listings that are back on the market, expired or cancelled. The focus will continue to be on volume of new listings and sold pendings. These are the key metrics we track on a week to week basis to gauge the comptitive landscape of the Waterloo and Wellington real estate markets. All indications continue to point towards a lack of avialable listings comapred to the amount of active buyers, and it may get wores.
With Spring practically upon us the flood of seasonal buyers is sure to follow. But where will they move? With such little inventory available and no signs of more houses coming onto the market what does this mean?
If we continue to see low levels of new listings and the buyer pool as robust and enthusiastic houses in Kitchener, Waterloo, Cambridge, and Guelph will continue to rise in value. Stay tuned, we will be continually updated and comment on this core component of our local real estate markets. As we move into the spring market we will peel back some layers and discuss some of the reasons for why inventory is so low and what that means for you.