April Showers to Bring May Flowers?

As has been widely reported, the Waterloo Region real estate market has been slower than normal, with significantly fewer homes being listed and sold in Q1 2018 than in Q1 2017.

But, now that the initial sting of the new mortgage stress test has subsided – and the frigid winter weather is behind us – we’re starting to see signs of life.

New listings in April 2018 were close to on-par with the volume seen in April 2017, indicating that sellers are confident in the state of the market and, now, making their move:

And, even though the average sale price this April is lower than last April, it’s key to remember that last April was the peak of the hottest seller’s market on record!

Current home values are actually HIGHER on average than they were July-December of 2017!

We expect the listing increase we saw in April to continue into May, promoting a strong spring/early summer market where buyers will have a variety of homes to choose from and sellers will continue to get a great return on their homes.

(So, yes, “May flowers”.)