Good Morning,

 

We hope this email finds you doing well, as we step into the vibrant heart of spring, typically the busiest season for real estate!

 

This March, the Waterloo Region Association of REALTORS® recorded 596 property transactions via the MLS® System. This reflects a modest 3.2% decrease compared to last year and a more pronounced 33.4% reduction from the five-year monthly average. However, amidst these challenging conditions, there's a silver lining: we've seen an uplifting 8% increase in year-over-year home sales for the first quarter of 2024, albeit still below the decade’s average.

 

Home values in our region have been consistently rising since December, setting a positive trend. The future pace and extent of price increases may hinge on buyers waiting for more favourable interest rates. With the Bank of Canada unlikely to adjust rates before June, this has introduced a measure of uncertainty for some prospective homeowners.

 

Yet, the outlook is not entirely dim. Despite March experiencing a notable two-decade low in home sales, there's emerging positive momentum. Prices and market activity have been on an upward trajectory for the past three months, and we anticipate this growth to continue into the spring, bringing renewed optimism to our local real estate market.

 

In March, Waterloo Region's average residential property sale price was $806,279, up 3.6% from March 2023 and 6.6% from February 2024.

 

Last month, 1,023 new listings were added to the MLS® System in Waterloo Region, up 18.7% from March last year but down 15.9% from the ten-year March average.

 

In March, the average time to sell was 19 days, consistent with March 2023 and slightly above the five-year average of 18 days.

 

While the Waterloo Region's real estate market faces fluctuations in sales and pricing, the economic climate is pivotal. With the next interest rate announcement expected on April 10th, the market is on the lookout for any shifts that could impact trends. CIBC CEO Victor Dodig predicts limited interest rate cuts, foreseeing one or two decreases in major economies, including Canada, later in the year. This perspective, along with mortgage market challenges, highlights the complex backdrop influencing our local market. Despite these broader economic influences, Waterloo Region's real estate has shown resilience, with rising home values and a positive sales trend into spring. The relationship between regional market trends and broader economic conditions will be key in shaping Waterloo Region's real estate future.

 

If you are thinking of buying or selling this Spring, or have questions about our current real estate market, contact us today!

 

 

But, how do you decide whether to invest in fixing or improving something versus just leaving it as is?

 

Say, for example, the walls throughout your home are a bit faded. (They’ve gone through a lot of living!) You can get all the dents and holes filled and repaint the entire place. That would definitely make a huge difference in how your property looks to buyers. Or, you can choose NOT to do that project in the hopes your home will “show” well regardless.

 

 

Once you have those answers, you’ll be in a much better position to make that decision.

 

By the way, painting is almost always a smart move when preparing your property for sale. The impact can be dramatic, and the cost is relatively low.

 

And, who knows what the market will be like later in the year?

 

The good news is, you can sell your home, even if you’re busy. There are plenty of ways to reduce the time, effort and stress involved.

 

The first step is to find out what needs to be done. Make a list. Turn that list into a plan and get that plan down on paper. That way, the process won’t just live in your imagination — where it might seem much bigger and more intimidating than it really is. Instead, it will be realistic and practical.

 

The next step is to see what can be done by others. If your schedule is already hectic, you want to minimize what you do on your own and outsource where possible. For example, you could hire a cleaning company, junk removal service, professional stager, and/or tradesperson. Of course, you’ll need to weigh that expense against the time you’d save, but it is often worth it.

 

Staying organized is also essential. When you’re busy, effective organization tools — to-do lists, calendar, scheduling app, etc. — will be your best friends. The more organized you are, the more you’ll feel on top of things.

 

Finally, get talking to professionals who are going to be able to help you — and even shoulder some of the heavy lifting.

 

The bottom line? Don’t let being “crazy-busy” prevent you from taking advantage of the opportunity to sell your home.

 

Whether through simply growing a few herbs or flowers in containers, or by tilling a plot for bountiful harvests, gardening is known to improve physical activity and help reduce stress. Furthermore, tending to plants can help us develop personal resilience and learn to embrace acceptance on a psychological level. If you are a beginner, do not dismay – you will be surprised at the advice you can easily gather just by researching online or at a garden-centre.

 

Start with a plan based on the time you want to invest and the results you want to achieve, such as abundant foliage or luscious fruits and vegetables. Although each type requires specific care, indigenous plants tend to be hardiest. After determining growing schedules and sunlight requirements, you need to decide when and where to plant. Make sure taller species do not overshadow neighbouring sunlight-seekers, but also avoid over-exposing those needing shade. Before planting seeds or transplanting slips, condition the soil with recommended nutrients, and ensure water is readily accessible.