Condominium Market Outlook for Waterloo


Waterloo, Ontario: Condo Market

Listings active on market

Listings of condos are generally based upon the number of bedrooms present in that city. Active listings in the present market is approximately 44-34% while many of them are sold. Condos having 3 bedrooms are available because only 1 of them is in sold listing. Waterloo is the most expensive, fastest-growing, fastest-selling and highest turnover city of Canada. Number of sales and inventory of this city is also high from others. There are approximately 352 new listings of Waterloo Housing Inventory. Almost 40 homes are sold.


The average price for condos

The average price of condos for sale in waterloo is approximately $574K and the median price of these condos is $359K. The prices of properties are increasing day by day in this city. The prices of condos have been increased up to 41.1% in the recent few years. There are detached and town houses also available for sale in this city. The prices of such houses are also affordable but on the whole, there is a significant increase in the market value of residential houses or condos of Waterloo, Ontario. The selling to listing price ratio is approximately 107%.


What can you buy and for how much

A person can buy a house of small and large number of bedrooms depending upon his need. A buyer can buy a small house in approximately $284,900 while he has to pay $775,000 if he wants to get a well-furnished home in a spacious area along with large number of bedrooms. A buyer can buy a condo, townhouse, detached house or a bungalow in this city.


What buyers can expect to pay & what they get

In order to buy a house in Waterloo, buyer should have a household income of approximately $96000. Buyer should be at least18 years old and have the residential experience of Waterloo of atleast 1 year. A buyer should have almost $425,000 to buy a house in this city as the property of this city is very expensive. A person should be aware of the Affordable Home Ownership Program before buying. If buyer qualifies the requirements, he can buy a home in 90 days.


Best city to buy

Waterloo offers a wide range of housing kinds in order to meet the necessity of houses of different sizes, characteristics and their income ranges. It is the best place to live because prices of these houses are affordable having relatively lower cost than in Toronto and surroundings. But these houses are expensive than those houses present in the communities of southern Ontario situated away from Toronto. Immigrants can live there by taking a house on rent. For the convenience in finding a rental house or apartment, a person should check local newspaper and he should visit online sites like Craigslist regularly. If a person wants to buy a house, he should contact retailer. In short, it is one of the best places to live in as this city is full of amenities.

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