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Kitchener Waterloo Real Estate Market Update: October 2009

November 13, 2009 by Benjamin Bach · Leave a Comment

Busy busy month! The summer and fall of 2009 has been very busy in Kitchener Waterloo, Ontario. Real Estate sales are almost at the same level as last year, and volume is up dramatically from the same time last year. Here is what the press release from the Kitchener Waterloo Real Estate Board says:

A new record for residential sales was set in October as MLS® homes sales to the end of October reached 579 units. That’s a 40.5 percent increase from October 2008 and the second consecutive month that sales set a monthly record.

“October was an especially busy month for local REALTORS®,” according to Karen Shartun, President of the Kitchener-Waterloo Real Estate Board (KWREB). “Last month’s results represent the largest month over-month increase we’ve seen all year, and now overall residential unit sales have practically caught up to 2008 figures on a year-to-date basis.”

Year-to-date, there have been 5,545 residential units sold, which is just 1% shy of the 5,596 units sold to-date this time last year.
Home sales last month totalled $149,717,233 (up 37.5 percent from October 08) and included 355 detached homes (up 35.5 percent from October 08), 114 condominium units (up 25.3 percent from
October 08), 53 semis (up 165 percent from October 08), and 53 townhouses (up 43.2 percent from October 08).”

We have clients acquiring great property investment opportunities right now in the Waterloo region, ranging from condos and townhouses to land for development, student rental houses and apartment buildings.

If you have any questions about the market, how you can start investing in real estate, or anything else I can help with, please contact me at Benjamin@BenjaminBach.com or call my office at 519 772 4376