No Comments


Our local real estate market review March 2020

For the past 3-6 months our local real estate market data was very similar to the numbers we saw in late 2016/early 2017. Waterloo Region markets had historically low inventory for some time and buyer demand was increasing. With no signs of those factors changing our 2020 Waterloo Region real estate market was positioned to continue to be competitive and prices were increasing. Enter COVID-19 and our market has begun to shift. Below we will share key market stats on our local real estate market as well as our insight into how our markets are shifting and what it means for you.

Waterloo Region Real Estate Market Overview – March 2020

There were 577 total residential sales in March 2020 across all market segments. That represents a 13.1% increase in the number of sales from March 2019. Of those 577 sales 348 were detached homes, 161 were townhouse/semis and 68 were condo sales.

  • Average Sale Price was $583,752 UP 15.3% from March 2019
  • Average Days on Market was 15 Days, DOWN from 21 in March 2019
  • The Average Percentage of Listing Price Received was 106.2% UP from 101.4% in March 2019
  • Months Supply of Inventory was 1.1 DOWN from 1.6 in March 2019 

Waterloo Region Single Family Homes

Average Sale Price: $679,728 (UP 15.9% from March 2019)

Days on market: 14 Days (DOWN from 21 days in March 2019)

Months Supply – Inventory: 1.1 Months (DOWN from 1.7 in March 2019)

Waterloo Region Condos

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

Average Sale Price:  $374,112 (UP from $328,258 in March 2019)

Average Days on Market: 38 Days (UP from 35 in March 2019)

Months of Inventory: 1.7 Months (DOWN from 2.7 in March 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 $481,562 UP from $420,611 in March 2019

The average days on market for towns was 12 days and 9 days for semis

Townhouse average sale price was $461,825 UP from $387,180 in March 2019 

There was just 0.7 months of inventory in March 2020

Realtor Notes

Waterloo Region’s real estate numbers for March 2020 tell us that the average sales prices are up, listings are selling quickly, and there is still very little inventory across all market segments. That being said, the effects that COVID-19 has had on our market isn’t accurately reflected in these numbers yet.

Taking a deeper look at March 2020 data we found that there was approximately 60% drop in showing activity in the last two weeks of March compared to the first two weeks. Furthermore there was approximately a 22% decrease in showings in March 2020 compared to February 2020, and about a 77% decrease in showings in the final week of March compared to the final week of February 2020. What these figures tell us is that showing activity is declining rapidly as the significance and severity of the health pandemic develops.

To summarize some the stats above and our experience with buyers and sellers this past month we can say that there was an influx of listings that hit the market but buyer demand has cooled. Listings are getting fewer showings but buyers that are viewing homes are motivated. We will share another short blog post this coming week discussing our view of the market and comment on the future of Waterloo Region Real Estate. For now, real estate business in NOT continuing as usual.

The local and provincial real estate boards are encouraging buyers, sellers, and realtors to postpone their real estate business if possible. As Realtors we are are able to provide services for clients that require a purchase or sale like digital video tours of properties for showings, group phone calls or video chats for client meetings and utilize digital signing applications for all paperwork. That means it is very possible to purchase or sell successfully but the way in which we must do business is different.

For Buyers:

If you are in a position that you must purchase a property we advise that you view video tours and be selective of the homes you view. Contact us to learn more about how we are helping clients safely find their new homes during these market conditions. We can advise on the proper health guidelines and ensure you have access to the proper tools to find and secure the right property.

For Sellers:

Sellers rushed to get their homes on the market before the COVID-19 situation worsened. Now, many people are delaying the sale of their property but the reality is each situation is different. We advise getting a preliminary market evaluation completed by phone to establish an initial evaluation and game plan for your property sale. For those that must sell please contact us for specific selling strategies to protect you and your home, but also get the proper exposure to sell your home for top dollar.


Real Estate Market 2019 Waterloo Region Annual Report

Waterloo, Cambridge, Kitchener Real Estate Market 2019 Overview

The Waterloo Region real estate market 2019 experienced another year of growth in many key stats. This blog post will review the key market statistics for the entire Waterloo Region. From there we will compare the performance of the Kitchener, Waterloo and Cambridge markets in 2019 to the past years’ numbers. Furthermore we will comment on important trends and metrics that may help indicate what we can expect in the coming months in the Waterloo region real estate market.

You can view and download the annual reports on our Facebook page here:

Waterloo Region Real Estate Overall Market Review 2019

There were 8,106 total sales in 2019 throughout Waterloo Region across all market segments. That represents a 3.6% increase in the number of sales from 2018. Of those 8,106 sales 62.6% were single family homes and 37.4% were townhouse/condo sales. Below are the key market stats for the entire Waterloo Region.

  • Median sale price $490,00 UP 10.1% from $445,00 in 2018
  • Average sale price $527,699 UP 9.2% from $483,037 in 2018
  • Average Days on Market 23 Days DOWN 4.2% from 24 in 2018
  • Percentage of Listing Price Received 101.5% UP from 100.9% in 2018
  • Months Supply of Inventory was 1.5 UP from 1.4 in 2018 *Rolling 12 month average across all market segments

Cambridge Real Estate Market 2019

There were 2,187 total sales in Cambridge in 2019, up 9.8% from 2018. Median sale price increased to $475,00 in 2019 from $440,00 in 2018. The average sale price in Cambridge increased to $500,422
(rolling 12 month average) in 2019 from $470,129 in 2018.

The percentage of listing price received increased to 101.1% in 2019, up from 100.4% in 2019. In Cambridge there was just 0.5 months supply of inventory at the end of 2019 and the average days on market was 21 days.

Kitchener Real Estate Market 2019

There were 3,704 total sales in Kitchener over 2019, up 3.6% from 2018. Median sale price across all market segments in Kitchener was $475,00 in 2019, up 10.5% from 2018. The average sale price was $499,282
(rolling 12 month average) in 2019 up 9.3% from 2018.

In Kitchener the average percentage of listing price in 2019 was 101.9%, up from 101.4% in 2018. There was 0.6 months of supply in Kitchener at the end of 2019 compared to 1 month of supply one year ago. Listings in the Kitchener real estate market experienced an average of 21 days on market throughout 2019.

Waterloo Real Estate Market 2019

There were 1,601 sales in Waterloo during 2019, down 4.9% from 2018. The median sale price was $525,00 in 2019, up 11.7% from 2018. In Waterloo the average sale price in 2019 was $562,088 (rolling 12 month average), up 11.1% from 2018.

Waterloo listings sold for 101.2% of listing price on average throughout 2019, up from 100.1% in 2018. There was 0.7 months supply of inventory at the end of 2019 and the average days on market was 25 days throughout 2019.

Realtor Notes
2019 Review & 2020 Thoughts

  • Very strong buyer competition below $600,000
  • Low supply and high demand market-wide
  • Development and redevelopment continue
  • Parking supply in city centres starting to diminish
  • Sustained interest rates

A significant trend we noticed in 2019 was a significant drop in available listings priced at $600,000 and under across all market segments. This is partly because of the aggressive price growth in Waterloo Region over the past few years pushing average prices higher. This trend, and aggressive price growth in the lower price ranges is fueled by strong buyer demand and lack of new inventory coming to market. Pre-construction options under under $600,00 in Waterloo region typically consist of townhomes or condo options, not single detached properties. Low market supply and high buyer demand is expected to continue in Waterloo region.

Development in Waterloo region continues but buyer demand continues to outpace new supply. Intense redevelopment in the downtown Kitchener and Uptown Waterloo areas has continued and gotten more aggressive throughout 2019. Expect this trend to continue in the coming years. With that we have notice parking in the city centres of Waterloo, Kitchener and Cambridge has increasingly become a problem for local businesses and for buyers moving into condos in these locations.

Finally, interest rates have remained low for another year. Throughout 2019 key interest rates and mortgage rates remained fairly steady. Additional regulations we not introduced in 2019 to help cool buyer demand either. If interest rates remain low, and additional regulations are not introduced, expect the financing side of the market to continue to support strong buyer demand.

Looking forward to 2020 we expect these trends to continue. There is low inventory across all market segments, especially under $600,000. New units can’t reach market quick enough to catch up with buyer demand. Financing rates are still historically low as well. Our market conditions support the trend that competition will continue to be strong and prices are likely to continue to rise.

No Comments

Temperatures & Inventory Dropping in Waterloo Region

November 2019 Waterloo Region Real Estate Review

Seasonal trends are a very real thing in the Waterloo Region real estate market as seen in the declining inventory numbers. Our local real estate market continue to experience growth fueled by low supply and strong buyer demand. Below we review key market stats across all market segments and briefly discuss the topic of affordability in our realtor notes.

Waterloo Region Real Estate Key Market Stats

Average sale price across all property types in Waterloo region was $550,865 in November 2019. That is up from around $532,847 in October.

All listings were on market for an average of 26 days, up from 23 days in October.

Overall market supply was 1.1 months in November, down compared to 1.4 in October.

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: $630,399 (UP from $604,355 in October)

Days on market: 26 Days (UP from 23 days)

Months Supply – Inventory: 1.1 Months (DOWN from 1.5)

The average sale price of single family homes in the Waterloo Region real estate market was $630,399 up almost $25,000 from just one month ago. The average days on market was 26 days for single-family properties. The Waterloo Region market experienced a second straight month of declining supply. With only 1.1 months of inventory there are very few single homes available.

Waterloo Region Condos

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

Average Sale Price:  $339,805 (UP almost $6,000 )

Average Days on Market: 35 Days (UP 2 Days)

Months of Inventory: 2.7 Months (UP from 2.6)

The average sale price for condos in Waterloo Region was $339,805 in November, up for the second straight month. Condos were selling in 35 days on average last month matching seasonal trends. There was 2.7 months of condo inventory in November, up from 1.7 months in November 2018.

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 $435,356

The average days on market for both segments was 23 days

Townhouse average sale price was $432,082

There was just 0.6 months of inventory in November 2019

Realtor Notes

Waterloo Region continues to experience low inventory numbers across all market segments putting upwards pressure on prices and affordability. In November there was 733 total property for sale which was about 300 units less compared to the same month last year. Furthermore, there was only 283 units combined between the condo, townhouse, and semi-detached segments. That is comparable to the 247 units for sale in the same month in 2016 which was the beginning of the extremely hot 2017 real estate market.

We look at these specific segments more closing because they are traditionally seen as more affordable options compared to single family homes. As inventory remains low, and prices continue to climb, more buyers and investors will turn to these segments for affordable options. This competition will further amplify the price growth in the lower price points and more affordable market segments like condos, townhomes and semi-detached properties.

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.

No Comments

Waterloo Region Real Estate Market Update – August 2018

Real Estate Inventory, Sales Volume & Prices

August 2018 is in the books, so where are our real estate markets at? In our latest blog post we are taking a look into inventory numbers, sales volume, and price trends. Our goal is to keep you on the forefront of our real estate markets. By monitoring key stats and indicators we will determine where our markets are at now, and where they are heading.

MLS Listings Monthly Stats – Waterloo Region August 2018

Below is a standard “monthly stats” chart for the past 12 months. We monitor this chart on a month-by-month basis to get clarity on the direction and speed in which our markets our heading. We can see that the median days to sell increased from 13 to 16 from July to August this year. Looking at the blue line we can see that prices remained similar over the past 4 months with an upwards trend in the first few days of September 2018. This chart is a great starting point to see how long properties are typically on the market before they sell firm and if the prices homes are selling for is changing.


Competition in Waterloo Region Real Estate

For the residents of Waterloo Region the real estate markets over past two years has been a very intense experience. Properties selling in multiples, in a few days or even just a few hours like last spring is something our markets have not seen for many years. This competitive landscape has a lot of homeowners opting to stay at their current home to avoid the stress and worry of competing. When monitoring competition, especially for those considering buying and selling in a competitive market, list-to-sale price ratio is a great tool!

The chart below shows the ratio of the listing price to the price a property actually sold for. Note that this is an average of all listings in the Waterloo Region over the last 12 months. Ever property, situation and seller is different and there are different strategies for listing and selling property. Overall, if the average listing to sale price ratio is above 100%, we can assume that there is very strong competition. For reference, any List/Sale price ratio above 99% is historically strong. For additional context, review the blog post from June 2018 here we explain this key market statistic relating to Spring 2017.

Inventory & Sales – August 2018

Below is a chart displaying the number of listings sold and months of inventory in for the past 5 years. In August 2018 there were 671 Listings sold. As of August 31st Waterloo Region had just under two months of inventory. Months of inventory measure how long it would take for any market to run out of available properties if no new listings came to market. To put our current inventory levels into perspective, anything between 0-4 months is considered a “seller’s market”. Inventory levels between 4-6 months is a “balanced market”, and 6 months+ is a “buyer’s market”.

Looking back we see that we have not had 4+ months of inventory since Spring/Summer 2014.. yikes. We also see seasonal trends in our marketplace. Blue peaks in Winter and Summer months while green drops. This shows that we have more inventory available in off season months and fewer sales being made.

No Comments

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: . Selling or wants some tips? Peak our Facebook page where we are posting great content reviewing our Spring Seller Series:!

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.


No Comments

Waterloo & Wellington Region Real Estate Statistics – March 4th, 2018

Market Statistics Week Ending March 4th, 2018

Our markets saw 71 more listings hit the board in the last seven days then the previous week and only 2 more sold pending (203 sold pending in last 7 days). There was a large increase in sold closed listings as buyers that squeezed in a deal before 2018 will be closing around this time. In summary, we are seeing slightly more new listings come up as we approach the spring and a lot more closings stemming from buyers in December 2017.

Waterloo & Wellington Region Real Estate – Listings Breakdown

New Listings: 332

Sold Pending: 203

Sold Closed: 278

Cancelled & Expired: 94

Active Conditionally Sold & Not Showing: 117

Price Increase: 6

Price Decrease: 41

Back on Market: 29


Although we see a nice bump in available listings you can bet there are more active buyers in our market as well. As the weather becomes warmer so will buyer activity. We are still in a strong sellers market until we more inventory consistently in Waterloo and Wellington regions. Until next week!