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Home Sales Continue to Break Records in May 2021

The Kitchener-Waterloo housing market continued to break records in May 2021. The month saw a total of 854 residential properties sold through MLS, up 100.9% from May 2020. “While last May home sales were restrained due to the pandemic, May 2021 was another extraordinary month of home buying and selling activity,” says Nicole Pohl, President of KWAR. “Prior to 2020, the previous 10-year average number of residential sales for May was 656.” Residential properties sold in May 2021 included 485 detached homes (up 85.8% from May 2020), 106 apartment-style condominium units (up 152.4%), 74 semi-detached (up 72.1%) and 188 townhomes (up 138%). The average price of a home in Kitchener-Waterloo was $740,103 in May 2021, up 30.4% from May 2020. The average price of a detached home was $868,990, up 32.6% from May 2020. Additionally, condominium units sold for an average of $457,935 (up 38.6%), semi-detached for $659,975 (up 36.8%) …
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Thinking of refinancing your mortgage? Read this first

Tracy Valko was recently interviewed by The Globe and Mail on the ins and outs of mortgage refinancing. Check out a snippet from the article below! Tracy Valko, principal mortgage broker, and owner of Valko Financial Ltd., based in Kitchener, Ont., says many people who refinance today opt for variable-rate mortgages, with interest currently as low as 1.45 percent. They can usually lock in at a fixed rate with the same lender down the road, without fees or penalties. “It’s hard to know where interest rates are going to go,” she explains. A variable-rate gives you time to see what’s going to happen with the economy and “let the dust settle.” Valko suggests that clients use their interest savings and any extra funds they may have saved from reduced lifestyle costs because of the pandemic to aggressively pay down their mortgages through lump-sum or “privilege” payments. At the same time, …
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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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Support Local This Easter Weekend

While people may be celebrating Easter a bit differently this year, there are still ways that you can support local businesses in a safe manner. Here are some great local bakeries in Kitchener-Waterloo to order some Easter-themed treats! Winnie’s Gluten-Free (519) 590-2769 winniesglutenfree.com Located in Belmont village, Winnie’s GLuten-Free is the perfect choice for delicious, gluten-free desserts. Head over to their website or give them a call to place your order! Debrodniks Donuts debrodniks.ca This local favourite is offering a special Easter menu until April 4th. Check it out on their website while supplies last! Norris Bakery (519) 742-0564 norrisbakery.com Norris Bakery was established in 1943 by Albert Norris.  The Bakery was owned and operated by the Norris family till 2000 at which time the Bakery was sold to the lead baker who has operated the Bakery since 2000. Norris Bakery strives to provide our customers with homemade quality baked goods, made …
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5 Tips for Selling Your Home This Spring

The Spring housing market is here! The start of the new season brings sunshine, flowers, and an overly competitive market for home buyers and sellers. If you’re looking to put your home up for sale, you’ll want to have all of your bases covered to capture the attention of buyers and secure the best possible offer. Here are 5 simple tips to sell your home this spring! Do a thorough cleaning of your home A clean house will always give off a better impression to people touring your home. Dust off all surfaces, lamps, and furniture to give your home that extra sparkle. Next, remove any clutter throughout your home. This could include cleaning off the kitchen counters or tidying up the kids’ toys. If you don’t have the space to put something away, it never hurts to donate it to a non-profit organization. Check for winter damage The snow …
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Support Local on St Patrick’s Day

While people may be celebrating St. Patrick’s Day a bit differently this year, there are still ways that you can support local businesses in a safe manner. Here are some great local restaurants to order from for today’s festivities! McCabe’s Irish Pub and Grill Kitchener (519) 743-3400 mccabeskitchener.com Waterloo (226) 647-5321 mccabeswaterloo.com “Irish pubs in downtown Kitchener and Uptown Waterloo where you can enjoy some traditional Irish grub and yummy pub fair. McCabe’s is the perfect mix between Irish tradition and local flair with a friendly atmosphere and always a warm bar stool. During the day it’s more laid-back, ideal for grabbing lunch and caffeine fixes.” Malt and Barley Public House (519) 745-6460 maltandbarley.ca “There’s no better way to celebrate Paddy’s Day than with a 3-course meal from your local pub! Order a 3-course Irish feature that includes mulligatawny soup, lamb stew, Irish car bomb puddin’ & more! Plus, there …
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March Home Checklist

The start of a new month always comes with a list of to-dos. As Spring is right around the corner, there are a few things you might want to check up on around the house. To prepare your property for the new season, check out our March Home checklist! Check your walkways, driveway, and roof for winter damage Once winter has passed and the snow has melted, check key areas around the exterior of your house for winter damage. It is important to do routine maintenance checkups like this to avoid long-term damage and more expensive repairs down the road. Get ready for tax time The tax-filing deadline in Canada isn’t until April 30, but getting everything organized this month will make things a lot less stressful. Go through your paperwork, update your files, and gather all of your important documents in one place. Spring clean your mirrors and surfaces …
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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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Kitchener is The 8th Most Expensive City for Rent in Canada

Image via Padmapper According to a recent study by Padmapper, Kitchener is one of the most expensive cities to rent in Canada. The report shows that the average rent for a one-bedroom apartment in Kitchener is $1,390, positioning them at 8th place in the nation. For a two-bedroom apartment, the average rate of rent is $1,670. This is up two positions from a previous report which shows that rent is increasing at a rate of 5.3% every year. Kitchener comes in just ahead of Hamilton and Montreal on the list. Rounding out the top three is Burnaby, Toronto, and Vancouver. For the full report from Padmapper, click here.

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