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Now is the time to upgrade

Each day brings new highs to the baseline of the average selling price of a home in the Waterloo / Wellington Regions. Upon study of the most active price points and homes which are getting the highest "over ask" selling prices, it can be observed that up to $800,000 dollar homes are receiving the most interest and the most bids driving the market up almost 2% per month. 

 

This poses a challenge for one who wishes to "downsize" into the average range of homes. 

 

As we look at the $800,000+ plus market, the demand has not yet reached the same scale as it has in lower price points. 

 

The gap is now very narrow and with the extra $50,000 to $150,000 over asking price that you are receiving, you can enter the $800,000+ plus market without stretching your budget to the same extent as you would have 6 months to 1 year ago. 

 

The competition in the higher range is far less and the inventory still exists! 

 

I predict that in 9 to 12 months, those homes will start edging up. Now is the time to enter that market. 

 

If downsizing is your only option, it is best to look at condos. Both regions have a healthy inventory of condos and they have not appreciated nearly as much as freehold residences. 

 

I can be reached directly to provide real-time analysis of the market! E-mail me anytime at faisal@homeshack.com or call me direct at 519-624-5555

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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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