Signs that the Kitchener Waterloo Real Estate Market is slowing are becoming more apparent. The overall KW Housing Index has slipped to .39 from .43 at the beginning of the month.
As you can see, the Housing Index continues to drop. For those readers who are not as familiar with the Index, it is a measure of buyer intensity for properties listed on the Kitchener Waterloo Real Estate Board’s Multiple Listing Service, or MLS. A higher number (above 1.15) indicates a seller’s market (more buyer’s than available listed homes) and a low number (under .85) indicates a buyer’s market (less buyer’s competing for each home).
Overall, there 393 sales and 132 conditional sales (525 total) in the past thirty days, vs the 628 total sales in the rolling 30 day period ending June 14th. This is a decline of 103 sales in less than a month, while active MLS listings increased by 55 in the same period.
The fastest moving segment of the Kitchener Waterloo market is still homes listed at less than $300,000. The Index of this market segment is also falling (.48 now vs .53 at the beginning of July), but there is still more competition than in the higher price ranges.
There have been no sales recently in the segment for homes listed at more than $600,000, which is the reason for the gooseegg in that column. There are some lovely luxury homes on the market in this segment, and they can be had for less than they’re listed at. Some of the vendors are starved for offers! If you’re thinking about buying a home like this, contact us for detailed info about the available properties.