The tri-cities are continuing to enjoy a steady market in the first five months of this year. For details please check out our market reports which we have just released for May 2012.
Cambridge is quickly approaching an average sale price of $300,000 year to date, this is 5.77% increase over the first 5 months of 2011. Supply in Cambridge remains steady from last years numbers and our average days on market is unchanged at 41 days.
In Kitchener the market activity has increased over last year, with a higher number of both new listings and sales, however the numbers have increased in relative balance allowing for a healthy 3.65% gain in average sale price over the same period of 2011.
In Waterloo a slightly different scenario has been unfolding with the number of new listings up a dramatic 15.67% over the first five months of last year and the number of sales down 4.83%. This increase in supply may be attributed to the changes in the city of Waterloo’s by-laws that now require licenses for all rental properties. Fortunately, the increase in supply appears to, at least thus far, have had no negative affect on the average sale price, which, while a lower increase than it’s neighbours to the south, is still 3.3% higher than last year bringing the average sale price in Waterloo to 334,365 year to date.
For detailed reports please visit https://eatonrealty.ca/about-us/market-reports/