It's here, the most comprehensive real estate market report for the entire region - Cambridge, Guelph, Kitchener, and Waterloo. Prepared in-house, and always with maximum attention to detail to ensure the most complete data and analysis possible.
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Archives of past reports are at the bottom of this page. Consume wisely, friends.
City of Cambridge
Hang it up and see what tomorrow brings.
Going into Q2, we had big concerns about how well the Cambridge market would survive a full COVID-quarter. Were the recent big gains in both activity and sale prices still too fresh to stand up against some market hardship? Surely prices will head South a little, right? Or, we pondered if there was enough strength in a now Regional market to help keep all of our collective heads above water?
The answer? Yes to it all, just depends what week we were looking at.
We saw hot minutes at the start of Q2 that witnessed staggering drops in inventory, sales and even price gaps opened up again. Then that cleared up. Then it came back. Then it cleared up again. It was a turbulent ride through Q2 in Cambridge, but things just kept truckin’.
Q2 in Cambridge, what a long strange trip it’s been ...
City of Guelph
If there’s a bustle in your hedgerow, don’t be alarmed now.
Guelph historically has a slow start to any year and Q2 is when the action really gets going. As we came out from the land of the ice and snow, there was real concern as to whether the market would remain frozen in time or if the real estate levee would once again break.
With week after week of improving data, the final Q2 results shouldn’t really be surprising to those who have been following the Guelph market for many years. Supply continues to be the issue in the market, not demand. Even a global pandemic couldn’t seem to change how everything that glitters in Guelph still turns to gold.
The steady stream of GTA buyers continued hard in Q2 and reached peak levels towards the end of the Q.
Guess there is still a feeling they get when they look to the West ...
Cities of Kitchener & Waterloo
If you want my future, forget my past.
Plenty of smart people were calling for a tough time through this COVID-era in KW real estate. While the preceding months leading into Q2 were certainly ‘spicy’, that all came to a screeching halt with sales and new inventory volumes dipping down as low as 70% Y/Y during the first few weeks of the quarter. But then it all changed. Once again, the people of the world decided to spice up their life.
With a little shake to the left and shake to the right, volumes returned and stagnant sale prices began the climb back upwards again. Even through all of this turmoil, the demand for KW real estate has never been greater.
So, tell us what you want, what you really, really want in KW and we will certainly help you find it.
Miss the beat, you lose the rhythm.
Even through a pandemic, no beats were missed, not a single one. The COVID-effect has brought the thought to more and more people that this is the time that they ‘might as well jump’ to the country-side. The drive to leave urban centres and pursue a life with more spacious environs is real and has led to an explosion in demand for real estate in the Townships over the past few months. This movement isn’t likely to stop any time soon, as a more than 5% increase in median detached sale price over the last quarter reveals.
While the sample sizes are small, we feel that this trend of dwindling supply and heavily increasing demand will only lead to exponential price jumps in the following Q’s.
Making that country dream a reality will take patience and great advice with help from your trusted Realtor®. Remember, only fools rush in and only time will tell if we stand the test of time.
While we make every effort to obtain as much data as possible from a variety of sources, sometimes there just isn't enough of it to report statistically significant figures.
The Townships can often have very low totals over any individual quarter, so although we do our best to report the facts, sometimes the facts are a little light on substance.
Sales to New Listing Ratio
A real estate market never heads in just one direction. Several key factors can drastically influence the direction of the market including mortgage interest rates, employment levels/growth, investment growth, immigration and development. Separately, or in conjunction with one another, they can influence whether we are it is a buyer’s market or a seller’s market.
A buyer’s market exists when there significantly more homes for sale than there are buyers. The typical end result is a drop in median sale prices over time as homeowners adjust their expectations to the current market conditions.
A seller's market typically exists when interest rates are low are there are plenty of qualified buyers and not as many homes for sale. Buyers must react quickly and often face multiple offer situations. Prices generally rise under these circumstances.
To appropriately measure market activity, TrilliumWest uses the Sales/New Listing Ratio as much as possible. The primary purpose of this ratio is to measure the balance between market supply and demand.
- a ratio between .40-.60 is considered a seller's market
- a ratio of less than .40 is considered to be a buyer's market