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Sales were somewhat sluggish, perhaps due to the January cold but, VALUES are up compared to Jan 2017.

The averages are:

Single detached home, a typical price of $554,857 an increase of 10.7%,

an apartment style condominium was $246,821 up 4%,

Townhomes sold for a middling of $371,095 up 14.5% and semis $388,974 up 9.7%.

Wish to know what yours is worth? Contact me at

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KWAR REALTORS® Distribute $18,000 in Donations to Local Charities

Kitchener-Waterloo Association of REALTORS® recently presented donations totaling just over $18,000 to three local charities.

Habitat for Humanity Waterloo Region, House of Friendship, and YWCA Kitchener-Waterloo have each received $6,111 as a result of their successful grant applications to the REALTORS Care Foundation (RCF).

“Our members are proud to support the RCF through the Every Realtor campaign,” says Tony Schmidt, President of KWAR. “RCF funds shelter-related charities across Ontario. KWAR’s participation ensures that investments are being directed right back into our community through local charities. Every one of these charities is helping to improve the quality of life in Waterloo region, and it’s very gratifying for us to help these great local organizations reach their goals.”

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October Residential Sales

Under the umbrella of the KWAR, for the month of October sales were above the previous 5-year October average of 464 sales. So we are seeing good activity but sales fell 16.6%compared to September’s activity.
The average price of all residential properties sold last month increased 11.4% to $454,398 compared to October 2016. Detached homes sold for an average price of $541,368, an increase of 13.1% compared to October 2016. The average sale price for an apartment style condominium was $249,993 for an increase of 11%, Townhomes and semis sold for an average of $349,316 up 13.7% and $354,668 – 8% respectively.

Last month the Office of the Superintendent of Financial Institutions Canada (OSFI) revised it residential mortgage underwriting practices, which come into effect on January 1, 2018. The change will require the minimum qualifying rate for uninsured mortgages to be the greater of the five-year benchmark rate published by the Bank of Canada or the contractual mortgage rate +2%.
Those effected by this change may be first time buyers and the marginally qualified.

For more information or for property valuation contact me, Denis Pellerin at (519) 577-8181 or by email