Kitchener Mortgage – Kitchener Market Update
As a trusted and qualified Kitchener mortgage professional with experience in both the mortgage and investment industries, I understand the importance of information.
Information helps myself and my clients make confident, educated decisions when it comes to their finances.
This information comes in a variety of forms and can be useful in a variety of ways.
Every client will have a different financial background and different wants and needs when it comes to their home financing. I am dedicated to providing the best information to assist my clients in every single one of these different scenarios.
Local market updates offer great pieces of information that almost everyone can pull from. They are helpful regardless of whether you are purchasing a home, moving to a different home, or refinancing the purchase of your current home.
According to the Canadian Real Estate Association, there was a total of 766 residential sales in the Kitchener-Waterloo area in April 2017. This is an impressive 14.3% increase over the total number of sales in the same month of last year.
There has been a lot of buyers in the market lately, which was starting to cause some worry about the number of homes available for purchase. Even though sales figures are continuing their upward swing, new listings have finally started to pick back up in response to the demand. There were 985 new listings added for the Kitchener – Waterloo just in April of this year, which is the closest this figure has been to 1,000 in over 2 years!
So far, homes are still being sold at an overwhelmingly fast rate, with the average listing taking only 10 days to sell in April this year, as compared to 33 days in April of last year.
If you are looking to purchase a home in the Kitchener-Waterloo area, you are definitely not alone! Because of the heightened competition in the current market, your best bet is to contact a mortgage specialist before you even begin your search for a home.
Having a firm grasp as to what sort of finances you will be working with can save you time by narrowing down your search from the beginning. Obtaining a pre-approval for your mortgage will increase your bargaining power with sellers, which is incredibly important in the current market!
If you are looking for more information that is tailored to your specific needs or interested in getting your Kitchener mortgage process started with a pre-approval, give me a call today!