MLS has recorded that around 511 residential properties were sold around the Kitchener-Waterloo area. This shows a strong projection for the future of property sales and real estate development in the town. Which makes it obvious that now is the time to make an investment in real estate properties in the town of Kitchener-Waterloo. With its strong growth over the past decade, the new coming months and years for residential property sales in the area are set to increase over time.
Decrease in Non-detached
The most sales activities for residential properties in the Kitchener-Waterloo area was in detached homes. Other strong sales recorded in the purchase of townhouses, semi-detached homes, and condominium units. That being said, these other residential properties showed a decline, though this is most likely due to the fact that there were fewer choices for property buyers in those segment of the market.
All of the residential properties sold in the Kitchener-Waterloo area during March also showed a good incremental increase in the average sales price. This was a three percent increase to around 505 hundred thousand dollars when compared to the same month during March of last year. This means that previous investment in residential real estate properties has seen a good return for sellers.
On the other hand, the median selling price for these residential properties in the Kitchener Waterloo area also showed an almost four percent increase from the same time last year in March, up to around 475 hundred thousand dollars. And detached homes had an increase in median sales price too, up to around one percent increase in price. Which means that in all residential property sales, investments should a significant increase in percentage return rates.
This increase in sales prices for residential properties in the Kitchener-Waterloo area has signaled and accurately reflected the high demand for homes in the town due to its offering of a good quality of life for its residents. This combined with its current affordability when compared to the larger urban areas around Canada has meant that these sales prices have also reflected the increase of demand in March for residential properties in the Kitchener-Waterloo area. This is because of an increase in demand for homes in the region. Investing in such a highly demanded area is definitely a good idea for Canadians.
The total number of residential properties that were put up for sale in the past month, in and around the Kitchener-Waterloo area has also decreased, as more people are looking to buy than to sell. This has been reflected over the past decade, and even when compared to March of last year. This means that if this trend of decreasing properties being put up for sale in the Kitchener-Waterloo region, the price will continue to rise. This trend signals the fact that now is the time to make an investment in residential real estate properties in the area, to ensure that the purchase price for it still remains affordable for the average buyer.