Penny McCarroll, Sales Representative - 519.591.HOUSE  - Penny@KWhomes4you.com
August 2017 Newsletter
July’s sales bring the year-to-date total to 4,387 residential units, an increase of 6.9 per cent compared to 2016.
“Home sales remain very strong, and while they have eased in comparison to July of last year, we have to remember that was a crazy busy time,” says James Craig, President of KWAR. “What we’re seeing now is the more typical summer slowdown, but overall July was still an above average month.”…
…REALTORS® listed 811 residential properties in K-W and area last month, a 22.9 per cent increase compared to July of 2016. While inventory levels continue to be low at just two months of inventory at the end of July – supply is up from where the measure has stubbornly stayed at just one month or less for the past 11 months. The number of months of inventory represents the time it would take to deplete current inventories at the current rate of sales. The long term average of months of inventory for KW and area is three and half months.
“The tight supply in the market continues to favour sellers; however the market seems to be shifting towards more balanced conditions,” says Craig…
(FULL NEWS RELEASE with graphs in pdf)
Comparing Jul 2016 to Jul 2017
- Overall Residential average price UP 17.4% to $455,217;
- Average Detached home price UP 14.7% to $519,507;
- Average Apartment Condo price UP 13.9% to $277,866;
- Average Townhouse price UP 22.8% to $350,342;
- Average Semi Detached Price UP 14.3% to $352,721.
- 365 Detached homes sales on par with Jul 2016;
- 113 Condos sales DOWN 21.5% [include any property regardless of style i.e. semis, townhomes, apartment, detached etc.];
- 36 Freehold Townhouse sales UP 44.0%;
- 38 Semi Detached sales DOWN 20.8%.
NEWS & TIDBITS
- Region sees more than $2 billion invested along LRT corridor;
- City gives affordable housing project a break on development charges;
- Harmony Lunch ready to serve it up again;
- Highlights of Statistics Canada's latest 2016 census release;
- Heritage map pinpoints Kitchener's pre-Confederation properties;
- Kitchener Wilmot [hydro] Outage Map;
- The Third Quarter 2017 edition of CMHC's Housing Now - Major Centres - Kitchener and Guelph is now available
RE/MAX 2017 RECREATIONAL PROPERTY REPORT
More and more cars, filled with families and couples are piling up on the highway trying to escape the city at the end of each week. Whether people are heading to their cottage or a well-planned rental, there’s no denying quiet time is of the essence and people like to vacation around beautiful scenery. Knowing this, there is no better time to release the 2017 RE/MAX Recreational Property Report!
<---Click on the photo for this report in pdf
Welcoming Our Neighbours to the South with New U.S. Landing Pages on REALTOR.ca
Region of Waterloo International Airport Master Plan
…The Master Plan presents a vision and strategy to guide the future of the airport and provides a set of recommendations to optimize the airport's commercial value over the next 20 years (2017-2036). The Business Plan supports the Master Plan by implementing a number of strategic operational actions over the next five years.
RE/MAX 2017 Spring Market Trends Report
Beyond price, Canadians ranked the following as important factors when considering a home purchase:
• Access to green spaces and parks (77%)
• Proximity to work (66%)
• Proximity to retail centres (65%)
66% of Canadians feel location impacts buying decisions more than a home’s style or size
Source: RE/MAX Spring Market Trends survey conducted by Lege
The housing market in Kitchener – Waterloo has remained brisk to start the year, primarily driven by move-over buyers from Toronto seeking affordability.
Low interest rates, a low Canadian dollar, and the two universities in the area continue to strengthen the region’s robust tech sector; creating jobs and attracting buyers. Increased commuter accessibility to Toronto due to GO Train improvements and the development of LRT lines is bringing more buyers to the region. Detached, single-family homes are seeing the most activity, with several properties receiving multiple offers, even in the upper-end of the market. There is approximately 1.5 months of inventory, and properties stay on the market for an average of 3-4 weeks.
The city is in the process of conducting a comprehensive review of its zoning bylaw. The zoning bylaw is a legal document that specifies how land can be used through regulations (property setbacks, building heights etc.) and permissions (residential, commercial, mixed-use etc). The city's current bylaw is 30 years old and it requires an update as a result of the city's new Official Plan (approved by the Region of Waterloo and currently under appeal). It is also important to ensure the bylaw reflects…[continued via link]
Free admission to all of the National Parks, Historic Sites and Marine Conservation Areas. Click here to order your free pass. (I did!)
Explore parks in Ontario! There are two National Historic sites right here in Kitchener! Click on the parks below for more information.
- Woodside National Historic Site (Kitchener)
- Waterloo Pioneers Memorial Tower (Kitchener)
- HMCS Haida National Historic Site
- Fort George National Historic Site
- Queenston Heights National Historic Site
- Southwold Earthworks National Historic Site
- Point Pelee National Park
- Bruce Peninsula National Park
- Fathom Five National Marine Conservation Area
- Georgian Bay Islands National Park
New Ontario Land Transfer Tax Rebate (January, 2017)
Contact Penny for additional information
[click on graphic]
Technical Backgrounder: Housing Insurance Rules and Income Tax Proposals
Real-estate reform: What you need to know about Ottawa’s overhaul
Rules announced last month will make it more difficult for some buyers to afford the home they want
The 5 Best Home Renovations
That Will Bring You the Highest ROI
The World’s Largest IoT Manufacturing Space
The internet of things (IoT) is the internetworking of physical devices, vehicles (also referred to as "connected devices" and "smart devices"), buildings and other items—embedded with electronics, software, sensors, actuators, and network connectivity that enable these objects to collect and exchange data.
Need to know something in our Region, restaurant, activity, anything?
Try this link....
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See what's happing to celebrate this season!
snapd Events Calendar... There's something for everyone!
Thank you for your continued business and referrals; they are very much appreciated, as my past business is truly my future business.
RE/MAX is Canada's leading real estate organization with over 19,000 sales associates situated throughout its more than 750 independently-owned and operated offices in Canada. The RE/MAX network, now in its 38th year, is a global real estate system operating in 90 countries, with over 6,300 independently-owned offices and over 90,000 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE:RMAX). For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.ca.
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Not intended to solicit currently listed properties or Buyers who are in a "Buyer's Representation Agreement" contract. All information regarding a property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.
* RE/MAX 100% Club Award: Achieved a level of productivity, based on a level of gross annual commission, which were more than double the industry average on sales between $4 and $13 million in 2015.
#1 Team at RE/MAX Twin City Realty
**TOP Team: KWREG [Kitchener Waterloo Real Estate Group] Awarded Top Team for 2012, 2013, 2014, 2015 & 2016 for the Highest level of gross sales as a Team under KWREG in all of RE/MAX Twin City for Waterloo, Kitchener, Cambridge, Brantford, Paris & New Hambrug.