According to the local Kitchener Waterloo Real Estate Board, home sales for the month of October showed gains over 2010 of 4.9 percent. More specifically, there were a total of 470 residential sales, with a total dollar volume of $143,058,192.
According to George Patton, President of the Kitchener Waterloo Real Estate Board, “Although all marketplaces are subject to month to month fluctuations it is obvious that we have a strong, stable market in our region... We are seeing that people have confidence in investing in the housing market in this area.”
The average price increase in the Kitchener Waterloo Market was 0.7% when compared to the same period last year. Although the market is not currently seeing the kind of growth surges it has seen over the past few years, the economy is resilient and prices remain stable.
When seen from a mortgage financing perspective, the true cost of ownership for those with, or who are looking for mortgages remains extremely attractive. 5 year fixed and variable mortgages remain extremely low, and should remain low for the near to medium term. These low Kitchener Waterloo mortgage rates when combined with a buyers market and one of the most resilient economies in Canada indicates that this is still a great time to buy. Kitchener Waterloo remains on a solid growth trajectory as local employment in general continues to remain solid and future prospects for RIM and other companies continue to improve.
I am always happy to answer your specific questions at your convenience.
Cheers,
Brent Richardson - brent@brentrichardson.ca - www.brentrichardson.ca
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