• Accredited Buyer Representative, (ABR)
• Canadian Employee Relocation Specialist (CERC)
• Accredited Senior Agent (ASA)
• Certified Negotiation Expert (CNE)

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Lack of supply prompted many would-be new home purchasers to turn to existing product in areas like Doon, East Forest, and Huron Village where they were able to buy similar product priced as much as $50,000 less. By far the greatest percentage increase in activity occurred in the $500,000 to $750,000 category where sales were up almost 40 per cent year over year. At the other end of the spectrum, the number of homes sold under $250,000 softened considerably as a result of fewer first-time buyers in the market. Tighter lending criteria, coupled with reduced job stability and an increase in contract positions, have many entry-level purchasers pulling back. Demand for condominium product within the Kitchener-Waterloo area remained brisk, supported by students attending the University of Waterloo, Laurier, and Conestoga College. Many buyers, including investors, have purchased units at 144 Park St., a new 19-storey development including high-rise suites and brownstones in Uptown Waterloo, with occupancy scheduled for November 2014. Empty nesters and retirees have also been an integral component of the market in recent years, driving demand for more upscale product.

The new City Centre project, a mixed-use development in the heart of Kitchener, is generating buzz in the community, with units expected to sell at $400 per sq. ft.

Given the current momentum in the market, home sales in Kitchener-Waterloo are expected to remain strong in 2015.

Broker,

CNE

(Certified Negotiation Expert)

CERC

(Relocation Specialist)

ASA

(Accredited Senior Agent)

ABR

(Accredited Buyer's Representative)