Kitchener Sees New Growth

The Real Estate Investment Network has ranked the Kitchener/Waterloo region as the second-best community for real estate in all of Ontario. By the end of February 2019, the city of Kitchener is expecting to issue building permits worth $1.2 billion for 20 new developments in the city’s downtown core. As the area moved into the spring market this year, there was a noticeable lack of supply, causing several multiple-offer situations that has continued. The median price of all residential properties sold last month was nearly on par with as last year, sitting at $436,143. The number of homes sold however, increased from 219 to 330 homes sold. Listings also increased from 486 to 551, while the average number of days on market fell, It was formerly at 32 days, but not sits at 22 days.