The 6,808 homes sold in Kitchener-Waterloo and area last year set a new record for total annual sales in the history of the Kitchener-Waterloo Real Estate Board. Last year's results were the continuation of a steady climb in sales since 1990 (3,501 total sales).
Dollar volume of all residential real estate sold last year jumped almost twenty percent to $1.7 billion compared with 2006, reflecting continued strong consumer confidence in the local real estate market.
The volume of sales in price categories above $200,000 experienced the greatest increases. The greatest percentage sales increase was for homes selling for $750,000 to $1 million. The most active market segment was for homes selling in the $200,000 to $250,000 price range.
Despite the record unit sales for the year, sale price increases were relatively tempered. The average sale price of all residential real estate sold in 2007 increased 5.6 percent to $248,879. Single family detached homes sold for an average price of $283,080 last year, an increase of 5.2 percent.
Despite strong consumer demand for higher-priced properties, the supply of homes for sale remained constant, with 9,646 new listings this past year topping the supply of homes for sale in 2006 by just four properties.
Tania Benninger, President of the Kitchener-Waterloo Real Estate Board says, "Home sales in 2007 were strong throughout the year as consumer interest went unabated. The strong sales performance locally reflects strong residential sales throughout Ontario and across Canada." Benninger noted that sales throughout 2007 have been strong across all price categories above $200,000, a trend that is likely to continue into 2008. While the sale of single family detached homes continues to drive the market, sales of townhouses, condominiums and semi-detached houses all experienced strong growth in 2007 as well.
Continued affordability, low interest rates and a dynamic local economy that has produced the highest employment rate in the country have created a market with a strongappetite for home ownership.
Welcome to my renewed Kitchener-Waterloo Real Estate Market blog. Check back here often for my insights and observations of the real estate market and industry. I hope to update this site weekly.
Its my goals for this blog are:
Feel free to post and send comments as your feedback is really key to the success of this experiment.
I wish everyone a productive and prosperous 2008!
These handy tips are from Real Estate Lawyer Merv Bergard's newsletter called, "Memos from Merv". I didn't take this too seriously when I first saw it, but some of these ideas are quite novel. I'm anxious to see if they work or not.
I'm an avid camper, so I'm intrigued by keeping a dryer sheet in my pocket to keep the mosquitos away I can't wait to try try this one.
Reheat Pizza: Heat up leftover pizza in a non-stick skillet on top of the stove, set heat to med-low and heat till warm. This keeps the crust crispy. No soggy micro pizza. It was on the cooking channel and it really works!
Reheating Refrigerated Bread: To warm biscuits, pancakes or muffins that were refrigerated, place them in a microwave with a cup of water. The increased moisture will keep the food moist and help it reheat faster.
Newspaper weeds away: Plant your plants, work the nutrients in your soil. Put layers of WET newspapers around the plants overlapping as you go. Cover with mulch. Weeds will get through gardening plastic, but they will not get through wet newspapers.
Broken Glass: Use a dry cotton ball to pick up little broken glass pieces - the fibers will get the ones you can't see!
Flexible Vacuum: To get something out of a heat register or under the fridge add an empty paper towel roll or empty gift wrap roll to your vacuum. It can be bent or flattened to get into narrow openings.
Reducing Static Cling: Pin a small safety pin to the seam of your slip and you will not have cling when wearing panty hose. Place pin in seams of slacks and - voila - static is gone.
Measuring Cups: Before you pour sticky substances into a measuring cup, fill it with hot water. Dump out the hot water, but don't dry the cup. Next, add your sticky ingredients such as peanut butter, and watch how easily it comes right out.
Reopening Envelopes: If you seal an envelope and then realize you forgot to include something inside, just place your sealed envelope in the freezer for an hour or two. Voila! It unseals easily.
Hair Conditioner: Use your hair conditioner to shave your legs. It's a lot cheaper than shaving cream and leaves your legs really smooth. It is also a great way to use up the conditioner you bought but didn't like when you tried it on your hair.
Good-bye Fruit Flies: To get rid of pesky fruit flies, take a small glass and fill it ½ inch with Apple Cider Vinegar and 2 drops of dishwashing liquid. Mix well. You will find those flies drawn to the cup and gone forever!
Get Rid of Ants: Put small piles of cornmeal where you see ants. They eat it, take it "home" and can't digest it so it kills them. It may take a week or so, especially if it rains, but it works and you don't have the worry about pets or small children being harmed.
Squirrel Away: To keep squirrels from eating your plants, sprinkle your plants with cayenne pepper. The cayenne pepper doesn't hurt the plant and the squirrels won't come near them.
Take Baby Powder to the Beach: Keep a small shaker of baby powder in your beach bag. When you're ready to leave the beach, sprinkle yourself and your kids with the powder and the sand will slide right off of your skin.
No More Mosquitoes: Place a dryer sheet in your pocket. It will keep the mosquitoes away. (It really works...)
Easier "Thank you's": When you host a bridal/baby shower, buy a pack of thank you cards for the guest of honour. During the party, pass out the envelopes and have everyone put their address on one. When the bride/new mom sends the thank you's, they're already addressed.
Easy Deviled Eggs: Put cooked egg yolks in a zip lock bag. Seal, and then mash them until they are all broken up. Add remainder of ingredients , reseal the bag and keep mashing it up mixing thoroughly. Cut the tip of the baggy and squeeze the mixture into the halved eggs. Just throw the bag away when done - easy clean up.
Expanding Frosting: When you buy a container of cake frosting from the store, whip it with your mixer for a few minutes. You can double its size. You get to frost more cake/cupcakes with the same amount of frosting. You also eat less calories/sugar per serving.
Stolen Bike: If you purchase a new bike for your child, place their picture inside the handle bar before placing the grips on it. If the bike is stolen and later recovered, remove the grip and there is your proof who owns the bike.
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Hello from Canada's Technolgy Triangle in prosperous Southwestern Ontario, Canada. I'm pleased to offer professional real estate services in the communities of Kitchener, Waterloo and Cambridge.
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