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Good News for Home Sellers and
Home Buyers Alike!
Area Housing Market Heats Up…..Just in Time for Summer!
Both Home Buyers and Home Sellers have reason to celebrate as we continue to enjoy a “balanced market” that favours both Buyers and Sellers. Statistics from the Kitchener-Waterloo Real Estate Board show 688 homes were sold in Kitchener-Waterloo in May 2009, a 9.9% jump over the 626 homes sold in May 2008. The market has been improving consistently, month by month, since February of this year with the average price of homes in the Kitchener-Waterloo area pegged at $270,650.
The good news for home sellers is that homes in the area are being sold for 98% of list price. The home buyers’ market in the area is robust – fuelled, in part, by low interest rates, tax credits and incentives.
If you’re a first-time home buyer who is thinking of entering the market, NOW is the time! Rock bottom interest rates and special provisions allowing you to withdraw up to $25,000 in your RRSP savings to plug into your down payment are two superb reasons to start your house hunting today! You can also cash in on a 15% credit towards $5,000 of home purchase costs, in addition to energy update credits and home renovation tax credits. We’ve worked with many first-time buyers over the years so, don’t be shy, call us at 519-579-4110 to get the ball rolling!
Kitchener-Waterloo remains a great place to call home! We rank as #3 in Canada and #1 in Ontario for investment, thanks to our world class universities, diversified marketplace and you - the talented people who drive our economy.
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