How’s the Market? Kitchener Waterloo Real Estate Board Statistics February 2014

Here are the real estate statistics for the K-W real estate board for the month of February 2014.

 

Kitchener-Waterloo Statistics Only

Kitchener Waterloo Real Estate Statistics February 2014

Kitchener Waterloo Real Estate Statistics February 2014

 

 

All areas are considered here, not just Kitchener-Waterloo

KITCHENER-WATERLOO, ON (March 5, 2014) – Residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 4.0 percent in February compared to the same month last year and up 34 percent compared to January’s results which were hampered by extreme cold and snow.

A total of 431 residential properties were sold compared to 449 the same time last year.  Residential sales in February included 274 single detached homes (down 8.7% from last February), 33 semi-detached (down 13.2%), 28 townhomes (down 3.4%) and 93 condominium units (up 16.3%).

“February sales showed a healthy increase compared to January,” stated Lynn Bebenek, President of the KWAR. “Low interest rates and a diverse and vibrant regional economy will continue to support a stable market for the Kitchener-Waterloo area.”

Single detached homes sold for an average price of $387,288 an increase of 5.1 percent compared to last year. The average sale price for a condominium was $233,657 an increase of 6.8 percent while townhomes and semis sold for an average of $281,636 (down 0.7%) and $246,171 (down 3.0%) respectively. The average sale price of all residential sales through the KWAR’s MLS® System increased 3.0 percent to $335,217 compared to February 2013.

“Following up on what has been one of the coldest winters on record I expect we will see home buyers and sellers out in full force come the spring time,” said Bebenek.

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

Consumers uncertain about current market conditions should work with a REALTOR® to develop an effective selling strategy. If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step. A REALTOR® understands the local market and must, by law, look after your best interests.

– Unit sales are year-to-date (YTD) and for month in K-W
– Average Sale Price is year-to-date in K-W
– Average days on market are only for the month not year-to-date in K-W

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Warren & Melanie McNeil, Team McNeil
Real Estate Sales Representatives
Re/Max Twin City Realty, Brokerage
☎ o. 519.579.4110 c. 519-498-8118
sold@teammcneil.com
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Monthly Cost Difference between Freehold vs Condominium

freehold-condo-comparison

I just did a video that illustrates the difference in monthly cost for a freehold house vs a condominium. This is helpful so that you don’t get caught up on the higher cost of the home. If monthly costs are more important to you, then doing this calculation before can be really helpful.

 

--
Warren & Melanie McNeil, Team McNeil
Real Estate Sales Representatives
Re/Max Twin City Realty, Brokerage
☎ o. 519.579.4110 c. 519-498-8118
sold@teammcneil.com
Bookmark and Share
wmcneil Filed under: Uncategorized — wmcneil @ March 3, 2014 7:17 pm



National Cupcake Day Gallery

Here is a photo gallery of this past National Cupcake day. We were able to raise $576 for Kitchener-Waterloo Humane Society!

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Warren & Melanie McNeil, Team McNeil
Real Estate Sales Representatives
Re/Max Twin City Realty, Brokerage
☎ o. 519.579.4110 c. 519-498-8118
sold@teammcneil.com
Bookmark and Share
wmcneil Filed under: Charity — wmcneil @ March 2, 2014 1:54 am



CMHC Raises Mortgage Insurance by 15%

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Warren & Melanie McNeil, Team McNeil
Real Estate Sales Representatives
Re/Max Twin City Realty, Brokerage
☎ o. 519.579.4110 c. 519-498-8118
sold@teammcneil.com
Bookmark and Share
wmcneil Filed under: Buyer Information — wmcneil @ February 28, 2014 3:13 pm



National Cupcake Day Monday February 24th

Updated: Feb 26, 2014 – We raised $567 for Kitchener Waterloo Humane Society. We would like to send out a special thank you to all the people who helped us and who bought cupcakes!!

 

Melanie and I will be baking cupcakes for National Cupcake Day on February 24th in support of the Kitchener-Waterloo Humane Society. The cupcakes will be available at our office located at 901 Victoria St, N in Kitchener. They will be available at 12:00pm while quanities last. If you are unable to make it in to pickup a cupcake, you can also donate online at our Online Bakery Page.

NationalCupcakeDay-TeamMcNe

 

If you are unable to make it in to pickup a cupcake, you can also donate online at our Online Bakery Page.

 

--
Warren & Melanie McNeil, Team McNeil
Real Estate Sales Representatives
Re/Max Twin City Realty, Brokerage
☎ o. 519.579.4110 c. 519-498-8118
sold@teammcneil.com
Bookmark and Share
wmcneil Filed under: Uncategorized — wmcneil @ February 12, 2014 1:59 pm




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