Significant growth in K-W housing market in 2016: REMAX

Not even this cold could slow down our red-hot housing market.

REMAX has released its latest Housing Outlook, which states residential home prices rose roughly 10% in our region in 2016 to an average of $382,697, and there’s no sign of our sellers market slowing down next year.

Marty Green, Broker/Manager for REMAX Twin City in Waterloo, says that doesn’t mean you should rush to get that for sale sign up.

“The thing they really need to look at is where are they going to live. If they’re moving further west, then it’s okay. But if you’re planning to take the money and buy something else, you gotta be prepared to pay more on the buy side as well. We’ve had a few instances where people didn’t think that through very well,” said Green, who adds home buyers from the GTA continue to drive up demand.

“The word is out about the tri-cities now, and a big driving factor for that is the new light rapid transit.”

New Hamburg and Baden, just minutes outside of Kitchener, are increasing in popularity as well for first time home buyers and those heading into retirement.

“Slower pace of life for retirees. They’re getting out of the city, they’re getting out of the construction, they’re getting out of the traffic.”

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