Good morning,

 

We hope this email finds you doing well!

 

In May, 742 homes sold via the Waterloo Association of Realtors (WRAR) MLS, marking an 8.1% drop from last year & a 20.0% decline from the ten-year monthly average.

 

In May, all sales categories declined, notably condo apartments. The condo market faced high supply levels, particularly challenging for sellers, especially for units with one or fewer bedrooms, where inventory surpasses demand.

 

 

In May, the average sale price for all residential properties in Waterloo Region was $818,507, marking a 0.3% drop from May 2023 & a 2.3% rise from April 2024.

 

This spring, there's a notable surge in apartment-style condo availability, reaching a record high in listings. Simultaneously, we're seeing a demand shift away from smaller units, likely influenced by higher interest rates affecting investor interest in this property category.

 

Policymakers' recent rate cut Wednesday (lowering the benchmark overnight rate by 25 basis points to 4.75%), signals confidence in inflation & potential for further reductions. Variable-rate mortgage holders will feel immediate effects, while fixed-rate holders wait until renewal. Though a 0.25% cut may not drastically alter payments, it could mean around $88 monthly savings on a $600,000 mortgage with a 5.75% interest rate. Forecasts suggest TD expects two additional cuts this year, aiming for a 4.25% benchmark, while CIBC & RBC anticipate three, aiming for 4%. Such adjustments could translate to significant savings, around $349 monthly on a $600,000 mortgage.

 

With further cuts on the horizon, there's optimism for further transformation & positive impacts on the housing market. If you're considering buying, selling, or have questions about the current real estate market, contact us today. We’d love to hear from you!

 

When you sell your property, you’ll want the experience to be as nondisruptive as possible, while also having plenty of qualified buyers interested in your listing. In the end, you’ll want the transaction to be completed without a hitch.

 

So how do you ensure that happens? Here are some things you can do to help:

 

 

With these tips in mind, you can better tame choppy waters that may arise and hopefully smoothly sail into a sale.

Wondering what features top the list for today's homebuyers? According to a recent survey from Frontdoor, here's a breakdown of the most desirable home features room by room:

 

 

As you consider your next home purchase or renovation project, keep these sought-after features in mind to enhance both comfort and resale value. Whether it's upgrading your kitchen countertops or installing eco-friendly amenities, incorporating these trends can elevate your home's appeal in today's competitive market.

Saying goodbye to a longtime home is both bittersweet and deeply emotional. From quiet everyday moments to life’s biggest milestones, our homes hold countless memories.

 

When selling your home, an agent’s role extends beyond just the technical aspects. Here’s what to look for in a seller’s agent who will support you through this significant transition:

 

Your agent should provide knowledgeable advice, ensuring your home is priced correctly and marketed effectively. They should also negotiate terms that are in your best interest.

 

Most importantly, a seller’s agent should be an empathetic advisor, helping you navigate the highs and lows of this major life event.

 

 

Choosing an agent with these qualities ensures a smoother, more supportive experience as you transition to your next chapter.