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 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.