Kitchener-Waterloo Real Estate Board

MLS® Statistics

In Town Residential Properties

©George Patton, Broker

  Jan 2011Jan 2012Change%
Listings 10991195968.74
Sales 248244(4)(1.61)
% Volume 69,789,00075,236,0005,447,0007.80
Average Sale Price 281,410308,34026,9309.57
Median Sale Price 257,250277,20019,9507.76
      

Previous 12 Month Period Versus Last 12 Month

  Feb 10 -Jan 11Feb 11 - Jan 12Change%
Total Residential Sales 4,7804,584(196)(4.10)
Total $ Volume 1,360,078,0001,359,686,000(392,000) (0.03)

All information based on MLS® data owned by Kitchener-Waterloo Association of REALTORS® Covering, 01/01/91 to 31/01/12, is considered accurate but cannot be guaranteed.  Listing numbers based on number as of last business day of month. Sales information does not include properties listed for rent & rented or those which do not provide year-round occupancy.

NOTES: Average Price hit a new high in January.  But before we have a celebration you need to understand we were operating with a limited number of sales and few sales in the upper price ranges can skew things.  Where we did see a change was in the $200-$300,000 price range where fewer sales took place than has been typical.  Generally, January 2012 was very similar to the same month of 2011.  Where we had snow & storms in 2011 in January 2012 we lost the first week because school was still out.

Although it may look like there were plenty of listings, in fact, fully 1/3rd are for new homes to be built making the resale market fairly tight.  In addition to that, over 1/4 of all listings are asking over $400,000 which represented only 16% of sales January.

Believe it or not, February is the month to get your home listed to compete in the spring market.  As history shows us, the number of listings will increase substantially over the next 3 to 4 months and buyers get active with offers now but closing in late May or June when the school year ends.

George Patton
Broker
578-7300