Increases All Around
Residential property prices are set to rise in the Kitchener-Waterloo region due to a number of different factors. The average purchase price for residential real estate properties in the town have seen an average increase over the past several years, and even when compared to the average median price of last year April there has also been an increase as well. Again, this is due to a number of different factors such as an increase in demand and the general number of homes being put up for sale being on a decline as well.
The increase in home prices and sales have been shown for all types of residential properties, whether it is semi-detached home properties, condo units, and townhouses. But the highest increase in sales and the number of properties were in the detached home category. The other real estate property segments saw a decrease in the total number that was being put up for sale.
But the number of detached homes being sold in Kitchener-Waterloo have actually seen a slight increase, as there have been new properties been put up for sale. This is due to the affordability and the popularity of detached homes for the average buyer.
Sales prices on average increase around 3 percent for the month of April. This is an increase from the same amount in April of last year. Again, detached homes saw the most in sales, with an incremental increase in the number of detached homes being sold in Kitchener-Waterloo. Townhouses and were sold on average for 370 hundred thousand dollars, while condo units were sold on average for 320 hundred thousand dollars.
All of these means that the high demand for homes in the Kitchener-Waterloo are signs that it is a good time to make an investment in a real estate property in the region. Prospective buyers should find a realtor for the area right now and consider purchasing residential properties. This is because prices are still relatively low right now compared to how much they may increase in the future. Home buyers right now will definitely get a more affordable home in the present when compared to the future prices of residential properties in the Kitchener-Waterloo area, as home prices are projected to definitely rise in the next few years.
The trend for the increase in demand and the rise in prices for homes in the Kitchener-Waterloo are because of the fact that the quality of life in the area is quite good. The crime rate is low and the average family income is also quite high, meaning that Kitchener-Waterloo offers a safe, clean and comfortable standard of living. And when compared to the average residential property prices in bigger urban areas, the median prices in Kitchener-Waterloo are very affordable. It is an excellent idea to invest in properties in the region as you will definitely see a rise in the value of your investment over the next few years due to the trend in increasing real estate sales in the area.