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Kitchener-Waterloo Real Estate Market Report June 2018

June 2018 Market Report

 
Hello, and welcome to the WRX Property Group blog! It’s time, once more, for a brand new edition of the WRX Property Group Monthly Market Report. At the start of each new month, we take a moment to look back at what happened in the Kitchener-Waterloo real estate market in the previous month, as well as placing the data in a historical context.

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Kitchener-Waterloo Real Estate Market Report May 2018

May Market Report

 
With a new month upon us, it’s time for two things: it’s time to look ahead to the month ahead and enjoy the warmth of the sun now that winter seems to finally be behind us.
 
But perhaps more importantly, it’s time for another edition of the WRX Property Group Monthly Market Report! In this May edition of the Monthly Market Report, we will be looking back at what went on in Kitchener-Waterloo real estate this April.

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Kitchener-Waterloo Real Estate Market Report March 2018

March Market Report

 
Hello, and welcome to the WRX Property Group website and blog! It’s that time again: time for a close look at the state of real estate in Kitchener-Waterloo. In this March edition of the WRX Monthly Market Report, we’ll be looking back at what happened in February, analyzing the data, and presenting a guide that should be helpful for anyone interested in the Kitchener-Waterloo real estate market (whether you’re buying a home in Kitchener-Waterloo, selling a home, or just looking to learn more).

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Kitchener-Waterloo Real Estate Market Report February 2018

Overview

 
Greetings! Welcome to the WRX Property Group website and blog. With the first month of 2018 receding into the rear view mirror, and February well upon us, it’s time again for our Monthly Market Report.
 
There are two things to make note of right off the bat, each of which is having an impact on the month’s statistics. The first is the Non-Resident Speculation Tax, which applies a 15 percent tax to residential purchases in the Greater Golden Horseshoe Region by non-permanent residents and/or non-Canadian citizens.
 
The tax was introduced just under a year ago, and its overall impact is still being revealed. Although Kitchener-Waterloo residents don’t need to worry about it personally, it is affecting the market overall. The second factor, and in many ways the more major one, is the new mortgage stress test rules, which took effect on January 1st, 2018.
 
With the stress test, banks will assess potential borrowers on whether they could continue to make mortgage payments at a 2 percent higher interest rate than what they’re applying for. Previously, these stress tests were reserved for uninsured borrowers and those with a less than 20 percent down payment, but it will now apply to everyone.
 
This means fewer people will qualify for mortgages, and approved mortgages will potentially be lower amounts overall. You can read all about the changes to mortgage rules in 2018 (as well as how the new rules differ from the old ones) in our article here.
 
Bearing those factors in mind, though, let’s proceed.

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Kitchener-Waterloo Real Estate Market Report January 2018

Overview

 
Hello and Happy New Year! Welcome to the first WRX Market Report of 2018. For this month’s breakdown, we’re going to focus on December 2017, the month which brings us to the final tally of the year.
 
2017 has been quite an eventful year for the region’s real estate market. We’ve seen impressive numbers across many fronts, and have also seen some important changes to regulations take place. Most remarkable of all is the total sales volume for the year, which surpassed the 3 billion mark for the first time ever in the area.
 
The first half of 2017 was powered by the record breaking momentum of 2016, which carried forward until there was a regulation change introducing a tax on non-residents who purchase real estate in the Greater Golden Horseshoe area.
 
The change contributed to a slowdown toward the middle of the year, however by no means did it impede the market from roaring onward.

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Kitchener-Waterloo Real Estate Market Report December 2017

Overview

 
It’s hard to believe that December is already here, but time does sure fly. For this edition of the monthly market report, we are going to take a look at how the market was doing in November 2017.
 
November has been a steady month for the Kitchener-Waterloo real estate market. A total of 424 transactions have been recorded by the MLS, which is on par with the 5 year running average for November of 425.
 
It’s worth noting that this year’s November market is lower in comparison to November 2016. This month’s sales are down 20.1% from last year, however that is because November 2016 was a record breaking month, so it’s to be expected to see a turn back to the average trend.

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Kitchener-Waterloo Real Estate Market Report November 2017

Kitchener-Waterloo Real Estate Market Report November 2017

 
For this month’s market report, we are going to be looking at market trends across the board for October 2017. October has definitely been an interesting month for the market. As we are watching the leaves change and preparing for a different season, a lot of people are looking at some recent changes in market regulations and are making their own preparations for the next year.
 
We will go into more detail about the changes shortly, but first let’s take a look at the numbers.


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Kitchener-Waterloo Real Estate Market Report October 2017

Kitchener-Waterloo Real Estate Market Report October 2017

 
The September market for real estate in Kitchener-Waterloo has been a step up from the seasonal slowdown we typically see in the latter summer months, showing that people are ready to make a move before the holidays roll in.
 
This is all the more reason not to be discouraged by the summer lull as the market is still ahead of the five-year running average of 437 sales for the month of September.

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Kitchener-Waterloo Real Estate Market Report February 2017

Kitchener-Waterloo Home Sales

 
We are back again with our monthly market report. The first month of the year is down and it’s time to examine the results. To no one’s surprise, the Kitchener-Waterloo real estate market has remained hot!
 
I’m sure by this point you can probably guess that sales have gone up again, but exactly how much have residential sales increased in Kitchener-Waterloo? Well, we had a total of 325 residential properties sold in the month of January.
 
The total is contains 194 detached homes, 79 condominium units, 32 semis, and 20 freehold townhouses.

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