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Cambridge home sales are up again in November

It’s not surprising to me, but according to new stats that were provided by the Cambridge Association of REALTORS®, home sales numbered 180 units in November 2016, which is up 7.1% from November 2015.

 

“While home sales were still up on a year-over-year basis in November, activity has been reeled in in recent months by an extreme shortage of available supply,” said Jim Robinson, President of the Cambridge Association of REALTORS®. “Record level market tightness is showing up in the average price, which jumped by nearly $90,000 year-over-year to cross the $400,000 threshold for the first time ever in November.”

 

The average sale price of homes is even up in 2016! This year the average price was $416,886, up 26.8% from November 2015. The year-to-date average price was $375,170, up 11.9% on a year-over-year basis.

 

The rise of prices has a lot to do with the demand. Many people are looking to relocate to the Waterloo Region (Cambridge within). While many are moving this way, the overall supply is currently at an all time low. There were only 155 active residential listings on the Association’s MLS® at the end of November, down 52.3% from November 2015.

 

If you are looking to buy or sell, or are looking for insights into the Waterloo Region and Cambridge communities, give me a call 519-624-5555 and I would be more than happy to guide you!

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Faisal Susiwala
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June 12, 2017
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Faisal's career in real estate began at the early age of 18. He consistently earned a reputation as a top producer from the outset. In 1994, he joined the sales force of RE/MAX Twin City Realty Inc. and has continued to be a top producer there for the past twelve years. Susiwala covers a large sector of the Cambridge and KW market and attributes his success to a strong marketing plan with extensive advertising, state of the art technology, an experienced support team and a loyal clientele base for the past 17 years of being in the real estate business.

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