February Real Estate Statistics

Still not pretty.

Well according to the numbers in KW, Cambridge and Guelph things are continuing as expected. Sales are down almost 30% and average house prices are still below last year, albeit not by a lot.

Real estate boards are sticking to this ridiculous notion that increasing sales versus December and January is something to boast about. Here is the quote from the KWREB president.

Last month's sales represented a healthy gain over the activity in December and January, the boards said.

"It's a small victory," Karen Shartun, president of the Kitchener-Waterloo board, said in a news release. "But after a steady diet of bad news concerning our economy that we've had in the past couple of months, we'll take it."

At least this time they only claimed it as a "small victory".

Now I know you are wondering if all this lipstick is doing any good? Is the pig looking any better? Is it actually kissable? Someone seems to think so...


I expect the spring market to pick up, as is the cyclical nature of our market. Based upon what we have seen over the last 4-5 months I would expect about a 25% drop in solds over last year. So for March that would put KW at about 470 solds, Guelph at about 210 and Cambridge at about 175. Let's see how close my predictions are.

M