Avery Rogan Realtor

Looking to buy a home, sell with low total commission, or secure financing? I’m Avery, a Real Estate and Mortgage professional committed to providing zero-pressure, trustworthy service. Reach out today for personalized, expert guidance.

Visit: www.averyrogan.com
Cell: (519)-621-4696 | Email: [email protected]
Real Estate Agent | Red and White Realty Inc., Brokerage
Mortgage Agent Level 1 | DLC Premier Mortgages #11232

Real Estate Market Update - May, 2023

The real estate market in the Cambridge, Kitchener, Waterloo, and Guelph regions has been very active in recent years, with strong demand for homes and limited inventory resulting in high prices and competitive bidding. According to the latest data from the Kitchener-Waterloo Association of Realtors, the average price of a residential property in the region was $869,328 in March 2023, which is a 38.6% increase from the same month last year.

Despite the high prices, demand for homes in the region remains strong, driven by a growing local economy and a surge of buyers from the Greater Toronto Area seeking more affordable housing options. This has led to bidding wars and properties selling well above asking price, particularly in sought-after neighbourhoods like Waterloo, Kitchener, and Cambridge.

As reported by The Record, the competition in the real estate market has been challenging for buyers, especially first-time homebuyers, as properties are selling quickly and often at a premium. However, there are signs of increased inventory and new construction projects that may offer some relief in the coming months.

The Kitchener-Waterloo Association of Realtors also reported that there were 1,194 residential properties sold in March 2023, which is a 16.4% decrease from the same month in the previous year. This decrease in sales can be attributed to the limited inventory of available properties.

Overall, the real estate market in the Cambridge, Kitchener, Waterloo, and Guelph regions remains strong and is expected to continue to attract buyers and investors in the coming years, as reported by CTV News.

Visit: www.averyrogan.com
Cell: (519)-621-4696 | Email: [email protected]
Real Estate Agent | Red and White Realty Inc., Brokerage
Mortgage Agent Level 1 | DLC Premier Mortgages #11232