508 Riverbend Drive, Kitchener, ON N2K 3S2

Office: 519.742.5800 ext.2214

jschmidt@coldwellbankerpbr.com

REAL ESTATE MARKET UPDATE

TOTAL RESIDENTIAL SALES THROUGH THE KWAR MLS® SYSTEM

281

AVERAGE SELLING PRICE OF ALL RESIDENTIAL PROPERTIES IN FIRST QUARTER OF 2020

FROM 2019

DETACHED HOMESJAN FEB MAR

$670,944+18.8%

from 2019

APARTMENTCONDOMINIUMS

SEMI-DETACHED HOMES

TOWN HOMES

JAN

RESIDENTIAL SALESFROM 2019 FROM 2019

-8.2%from 2019

467FEB

+36.5%from 2019

577MAR

+13.1%from 2019

AVERAGE PRICE SOLD FOR

153JAN

-19%from 2019

272FEB

+52%from 2019

348MAR

+7.1%from 2019

DETACHED HOME SALES THROUGH THE KWAR MLS® SYSTEM

JAN$561,029

+15.7%

FEB$571,023

MAR$583,752

+16.3% +15.3%

All statistical information is based on Kitchener-Waterloo and area Multiple Listing System (MLS® System) data owned by the Kitchener-Waterloo Association of REALTORS® (KWAR)

$673,825+13.2%

from 2019

$679,728+15.9%

from 2019

$382,636+26.1%

from 2019

$371,923+16.4%

from 2019

$378,443+17.9%

from 2019

$484,190+18.7%

from 2019

$485,831+8.4%

from 2019

$492,752+17.4%

from 2019

$439,765+20.3%

from 2019

$443,382+12.9%

from 2019

$457,547+23%

from 2019

SPRING 2020

Please see reverse for our COVID message

Julie SchmidtSales Representative

www.SoldByJulie.ca

www.coldwellbankerpbr.com This newsletter is not intended to cause or induce a breach of an existing Representation Agreement. The information contained herein has been obtained from sources which we believe reliable but we cannot guarantee accuracy or completeness. Coldwell Banker Peter Benninger Realty assumes no liability for the accuracy or use of this information for any purpose and reliance upon this information is solely at the risk of the user.

While many would-be Buyers and Sellers are clearly taking a wait and see approach, those who need to complete a real estate transaction can be reassured as the Provincial Government has confirmed Realtors® as essential workers. Lawyers, Mortgage Agents, Bankers and other critical services tied to housing are, for the most part, still in place and operating; albeit more through technology than ever before.

That said, many of the normal steps in the homebuying or selling process have been disrupted.

Buyers, for instance, may have a difficult time visiting a listed dwelling in person. Open houses are not permitted in the Province of Ontario, and visits, while not prohibited, are becoming increasingly rare for health reasons. In their place, digital workarounds using social media and web resources have become fundamental. Realtors are offering to livestream walk throughs with you in real time. Sellers have seen great value in having a professional video done both inside and out. To complement the video, measurements and room layouts are also available online so that Buyers can narrow their choices significantly and lessen the risks associated with in-person visits.

Offers to purchase can all be done with digital signatures. If the enjoyment of signing in person is desired, this can be (close to) accomplished by way of a video conference. It’s not the same as being in the same room; but the visual is still there and the moment can still be celebrated.

Applying for, qualifying and securing financing can all be done digitally. We are responding to challenges daily and can pro-vide you with information to help with your decision making and maintaining your peace of mind during this unprecedented time.

We are here to help! Shelter is central to our society, and as your Realtor I will work with you to safely fulfill your real estate needs.

Please see below for some helpful websites regarding COVID-19:

www.canada.ca

www.news.ontario.ca

www.regionofwaterloo.ca

The Real Estate Industry and COVID-19