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Number of Home Sales in April Second Highest on Record

The Kitchener-Waterloo housing market continued to break records in April 2021. The month saw a total of 843 residential properties sold through MLS, up 263.4% from April 2020. “Even if we do not take into account April 2020, when Ontario was in the early days of its state of emergency, it was still an exceptional number of homes sold last month,” says Nicole Pohl, President of KWAR. “The previous 10-year average number of residential sales for April was 618.” Residential properties sold in April 2021 included 484 detached homes (up 233.8% from April 2020), 111 apartment-style condominium units (up 382.6%), 67 semi-detached (up 294.1%) and 181 townhomes (up 285.1%). The average price of a home in Kitchener-Waterloo was $757,906 in April 2021, up 34.3% from April 2020. The average price of a detached home was $899,315, up 36.9% from April 2020. Additionally, condominium units sold for an average of $441,887 …
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Record Smashing Number of Home Sales in March 2021

The Kitchener-Waterloo housing market broke records in March 2021. The month saw a total of 993 residential properties sold through MLS, up 72.7% from March 2020. “This is the first time we’ve sold more than 900 homes in a single month,” says Nicole Pohl, President of KWAR. “The second-highest number of sales occurred in May 2017 when there were 816 sales through our MLS® System.” Residential properties sold in March 2021 included 593 detached homes (up 69.4% from March 2020), 124 apartment-style condominium units (up 82.4%), 79 semi-detached (up 216%) and 197 townhomes (up 49.2%). The average price of a home in Kitchener-Waterloo was $765,393 in March 2021, up 30.8% from March 2020. The average price of a detached home was $899,460, up 32.3% from March 2020. Additionally, condominium units sold for an average of $423,470 (up 12%), semi-detached for $652,669 (up 32.5%) and townhomes for $622,258 (up 35.9%). There …
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February 2021 Produces Record Numbers in the KW Housing Market

The Kitchener-Waterloo housing market broke records in February 2021. The month saw a total of 597 residential properties sold through MLS, up 27.8% from February 2020. “Competition for homes continued to be extremely intense in February, leading to a record-breaking number of home sales for the month,” says Nicole Pohl, President of KWAR. “We continued to see dramatic increases in the average price in February due to the persistent and fierce competition for homes in our region combined with short supply.” Residential properties sold in February 2021 included 337 detached homes (up 23.9% from February 2020), 101 apartment-style condominium units (up 57.8%), 47 semi-detached (up 46.9%) and 112 townhomes (up 13.1%). The average price of a home in Kitchener-Waterloo was $752,289 in February 2021, up 32.9% from February 2020. The month came with a significant milestone as the average price of a detached home was over $900K for the first …
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Housing Continued to Surge in January

The housing market is still on the rise across Canada according to a recent press release from the Canadian Real Estate Association (CREA). Although supply continues to be an issue, home prices still remain strong and are expected to be for the entirety of 2021. Read below for an in-depth analysis from Dr. Sherry Cooper, the Chief Economist at Dominion Lending Centres. Click here to read the Original Article from Dr. Sherry Cooper. Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in January 2021. Canadian home sales increased 2.0% month-on-month (m-o-m) building on December’s 7.0% gain. On a year-over-year (y-o-y) basis, existing home sales surged 35.2%. As the chart below shows, January activity blew out all previous records for the month. The seasonally adjusted activity was running at an annualized pace of 736,452 units in January, significantly above CREA’s current 2021 …
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KW Home Sales Off To an Exceptional Start in 2021

The Kitchener-Waterloo housing market took a huge leap in January 2021. The month saw a total of 351 residential properties sold through MLS, up 24.9% from January 2020. “January’s home sales were more active than what we typically see this time of year,” says Nicole Pohl, President of the KW Association of Realtors (KWAR). “But nothing has been typical about our housing market.” Residential properties sold in 2021 included 201 detached homes (up 31.3% from January 2020), 71 apartment-style condominium units (up 97%), 21 semi-detached (unchanged) and 56 townhomes (down 17.6%). The average price of a home in Kitchener-Waterloo was $695,582 in January 2021, up 23.9% from January 2020. The month came with a significant milestone as the average price of a detached home was over $800K for the first time ever, coming in at $853,945. This was up 27.3% from January 2020. Additionally, condominium units sold for an average …
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Canadian Real Estate Association December 2020 National Statistics

National Statistics Record December caps record year for Canadian home sales Ottawa, ON, January 15, 2021 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in December 2020. SUMMARY: National home sales rose 7.2% on a month-over-month (m-o-m) basis in December. Actual (not seasonally adjusted) activity was up 47.2% year-over-year (y-o-y). The number of newly listed properties climbed 3.4% from November to December. The MLS® Home Price Index (HPI) rose 1.5% m-o-m and was up 13% y-o-y. The actual (not seasonally adjusted) national average sale price posted a 17.1% y-o-y gain in December. Home sales recorded over Canadian MLS® Systems jumped by 7.2% between November and December to set another new all-time record. (Chart A) Seasonally adjusted activity was running at an annualized pace of 714,516 units in December 2020 – the first time on record that monthly sales at seasonally …
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Canadian 5-year Yield Fell To Lowest Level Since October

Global investors are selling stocks and piling into the safety of bonds in response to fears that the Wuhan coronavirus could disrupt global economic activity. Gold prices, another haven, have also risen. The Government of Canada 5-year bond yield traded this morning at roughly 1.35%, well below its nearly 1.70% level one month ago. The 5-year yield leads fixed mortgage rates, so if this trend persists, we might see widely available fixed-5-year rates in the 2.50% range once again in February.    ____________________________________________ Bank of Canada Now Buying 10-year CMBs   The Bank of Canada announced yesterday that effective immediately, the Bank will expand the Canada Mortgage-Backed securities (CMBs, which are government-guaranteed) it can purchase in the primary market to include 10-year fixed-rate bond issues. In 2018, The Bank expanded the assets it acquires to 5-year fixed and floating CMBs. The Bank held $517 million of these 5-year CMBs as of …
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Weak New Listings Slow Canadian Home Sales as Prices Continue to Rise

Sellers Housing Market  Now in the Greater Toronto Area (GTA) Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home sales edged down 0.9% in the final month of 2019, ending a streak of monthly gains that began last March. Activity is now about 18% above the six-year low reached in February 2019 but ends the year about 7% below the peak recorded in 2016 and 2017 (see chart below). There was an almost even split between the number of local markets where activity rose and those where it declined, with higher sales in the Lower Mainland of British Columbia, Calgary and Montreal offsetting declines in the Greater Toronto Area (GTA) and Ottawa. Actual (not seasonally adjusted) activity was up 22.7% compared to the quiet month of …
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