This week in real estate

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New Listing on Cedarwoods Crescent

Alasdair and I have a new listing. It will be on the market on December 19. It’s a three bedroom townhouse on Cedarwoods Crescent in Kitchener. We are taking the unconventional step of listing a property six days before Christmas.

Why?

Because there is always activity in the real estate market and this listing is too good to wait till January.

 

Kitchener Waterloo and Cambridge home sales at a glance

Year-to-date, there have been 5,921 residential units sold. This represents a decline of 2.3% compared to the same period last year.

The average price of all homes sold last month increased 6.6 percent to $299,755.

Sale prices of detached homes increased by 7% in November to $344,404, relative to one year ago.

In November, there were 243 homes sold in Cambridge. This is an increase of 24% from the same month a year earlier.

It was the seventh month in a row that sales were up on a year-over-year basis.

Sales through the first 11 months of the year totaled 2,817. This is an increase of 8% from the same period a year ago.

 

What about building starts?

Whereas new home building fell by 13% in November across Canada, Waterloo Region bucked the trend as housing starts rose here. This is mainly due to the start of a number of Waterloo apartment projects.

Builders started 282 housing units in the Kitchener-Cambridge-Waterloo census metropolitan area in November, up from 148 in November a year ago.

A total of 1,436 apartment units were started in Waterloo Region in the first 11 months of the year, up from 905 in the same period a year earlier. Singe-detached starts totaled 1,099, down from 1,178 a year ago.

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