THE DEUTSCHMANN TEAM LUXURY MARKET REPORT WATERLOO | AUGUST 2022
What I really love about Waterloo Region, and working in this area, is that we live in a growing city that has increasing relevance on the international map. Kitchener-Waterloo is a hot spot and a technology hub. We have the innovative infrastructure, top-rated post-secondary educational institutions including the University of Waterloo, Wilfrid Laurier University, and Conestoga College, many successful businesses and globally renowned companies, various technology start-ups, and so much more. This community is a great place to live and raise a family–it truly is an exciting time to live and work in Waterloo Region! What sets our team apart from the local competition is that we are determined to provide the best service and experience for our clients. Buying or selling a home can be very stressful and we like to put ourselves in our clients’ shoes. We take the time to really get to know our clients and establish mutual trust. We try to understand each person’s unique needs and personalize and prioritize service for them. Our goal is to simplify the process, making it hassle-free. We put honesty, integrity, and personality into everything we do-we really put our heart into it. We are always there for our clients before, during and after the sale. You can trust you are in good hands and can Expect Excellence. If you are looking to buy or sell we truly would love to work with you.
BECKY DEUTSCHMANN REALTOR® | THE DEUTSCHMANN TEAM 519.841.6511becky@elitere.ca www.elitere.ca
My team and I work with buyers, sellers and investors in all price ranges in Kitchener, Waterloo, Cambridge, Guelph and all surrounding areas.
My name is Becky Deutschmann, and I am the Team Leader of the Deutschmann Team. I was born and raised in Kitchener-Waterloo, and I attended Wilfrid Laurier University, where I earned a Double Honours B.A. I have deep roots in the real estate industry as my Father is a local Builder, and my Grandfather was also a Builder. It is a part of who I am. I am extremely passionate about my career as a REALTOR®, as I love helping people–it’s what I do best. Helping people, getting to know them, being open, honest, and transparent throughout the whole buying or selling process is what we do. That’s the Deutschmann Team difference.
Real estate investing is where I shine. Helping investors find the next addition to their property portfolio is a task I take great pride in. I excel in rental properties: single-unit or multiresidential, along with pre-construction properties, assignment of transactions, commercial leases, commercial purchases, and vacation properties. Visions for raw land or how an existing structure can be transformed and updated is an adventure I enjoy and am well experienced at. I am so lucky to be able to help ideas become reality. And even luckier to see those I form strong bonds with create income and wealth. I’ve always “walked the walk”. I use my accounting background and personal investing experience to provide my clients with insight from real-world hands-on scenarios. From demolition to working on homes in my spare time, to working with contractors and trades, to looking for properties with the greatest returns and greatest potential; I have made the mistakes and found successes which have refined my skills. In addition, my firsthand knowledge of investing in preconstruction projects and looking for income producing cottages, along with assembling land for larger projects and being a landlord, has provided insight into what it really means to invest, what it means to look for opportunities, how to be a Landlord and how to profit.
DREW DICKINSON REALTOR® | THE DEUTSCHMANN TEAM 519.500.2805drew@elitere.ca www.elitere.ca
I am now privileged with the opportunity to provide service to those in my community. I take pride in helping those around me discover their next home, make their first real estate investment, and help sellers set new sales records.
My name is Drew Dickinson – along with Becky, we make up The Deutschmann Team. I am originally from Durban, South Africa, but immigrated to Canada at the age of 10. I grew up in Waterloo Region, and I attended Conestoga College for Business-Accounting. Once graduated, I re-discovered my passion for sales.
My strong work ethic, empathy, and desire to succeed coupled with an in-depth understanding of construction, finance and investment make my approach to real estate multi-faceted. I approach all real estate scenarios with structured know how and winning strategy. From identifying each buyer, seller, family, and investor goal, to implementing a path to success – I take pride in every aspect of real estate, where achieving beyond expectation is paramount.
Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
LUXURY
Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well.
REMAINING INVENTORY: The total number of homes available at the close of a month.
– REPORT EXPLAINED
REPORT GLOSSARY
The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report.
PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot.
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DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted.
LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month.
SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory.
SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
WATERLOO REGION ONTARIO 2022 AUGUST
4 5 4 3 12 6 7 15 18 14 11 17 10 26 14 0 0 0 1 1 2 0 2 7 4 9 4 1 5 13 $4,000,000+ $3,600,000 - $3,999,999 $3,200,000 - $3,599,999 $2,800,000 - $3,199,999 $2,400,000 - $2,799,999 $2,100,000 - $2,399,999 $1,900,000 - $2,099,999 $1,700,000 - $1,899,999 $1,500,000 - $1,699,999 $1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,250,000 - $1,299,999 $1,200,000 - $1,249,999 $1,150,000 - $1,199,999 $1,100,000 - $1,149,999 Inventory Sales -Range-Beds3 -MedianPriceSold- -MedianDOMSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0-1 Bedrooms NA NA NA 0 0 NA 2 Bedrooms NA NA NA 0 2 0% 3 Bedrooms $1,300,000 19 3 5 33 15% 4 Bedrooms $1,250,000 10 4 25 72 35% 5 Bedrooms $1,350,000 13 4 15 45 33% 6+ Bedrooms $1,665,000 25 5 4 14 29% WATERLOO REGION SINGLE FAMILY HOMES LUXURY INVENTORY VS. SALES | JULY 2022 Luxury Benchmark Price 1: $1,100,000 Seller's Market166Total Inventory: 49Total Sales: 30%Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
MEDIAN DATA REVIEW | JULY 13 - MONTH LUXURY MARKET TREND 4 SoldsMedian Sales Price Inventory 39 27 29 33 26 14 12 17 35 69 113 174 166 130 66 75 137 98 74 137 254 257 178 162 97 49 $1,242,539 $1,250,000 $1,255,000 $1,280,000 $1,302,500 $1,312,385 $1,300,000 $1,310,000 $1,323,000 $1,312,500 $1,300,000 $1,250,000 $1,300,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. • The Waterloo Region single-family luxury market is a Seller's Market with a 30% Sales Ratio • Homes sold for a median of 100.00% of list price in July 2022. • The most active price band is $1,100,000-$1,149,999, where the sales ratio is 93% • The median luxury sales price for single-family homes is $1,300,000. • The median days on market for July 2022 was 12 days, up from 7 in July 2021. WATERLOO REGION SINGLE FAMILY HOMES WATERLOO REGION MARKET SUMMARY | JULY 2022 VARIANCE: 326 % 39 166 Jul. 2021 Jul. 2022 TOTAL INVENTORY VARIANCE: 62 % 130 49 TOTAL SOLDS VARIANCE: 5 % $1.24m $1.30m SALES PRICE VARIANCE: 71 % 7 12 DAYS ON MARKET VARIANCE: 14 % 116.47% 100.00% SALE TO LIST PRICE RATIO VARIANCE: N/A N/A N/A SALE PRICE PER SQFT. Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022
0 0 0 0 0 0 1 2 0 6 6 12 10 11 2 2 0 0 0 0 1 0 0 1 2 5 4 8 8 10 $1,600,000+ $1,500,000 - $1,599,999 $1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,200,000 - $1,299,999 $1,100,000 - $1,199,999 $1,000,000$700,000$725,000$750,000$775,000$800,000$850,000$900,000$950,000$1,099,999-$999,999-$949,999-$899,999-$849,999-$799,999-$774,999-$749,999-$724,999 Inventory Sales WATERLOO REGION ATTACHED HOMES -Range-Beds3 -MedianPriceSold- -MedianDOMSold- -MedianBathsSold- -Total-Sold Inventory-Total- Sales -Sold/Inventory-Ratio 0-1 Bedrooms NA NA NA 0 0 NA 2 Bedrooms $760,000 14 2 11 9 122% 3 Bedrooms $748,001 13 3 27 37 73% 4 Bedrooms $817,000 34 4 3 4 75% 5 Bedrooms NA NA NA 0 0 NA 6+ Bedrooms NA NA NA 0 0 NA LUXURY INVENTORY VS. SALES | JULY 2022 Luxury Benchmark Price 1: $700,000 Seller's Market50Total Inventory: 41Total Sales: 82%Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
17 13 18 2 13 1 2 9 29 48 46 59 50 69 37 7 68 99 61 102 147 154 126 102 67 41 $725,000 $775,000 $774,000 $800,500 $801,000 $815,000 $863,500 $865,000 $820,000 $815,000 $787,500 $745,000 $750,000 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 SoldsSale Price Inventory 3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties. 13 - MONTH LUXURY MARKET TREND 4 VARIANCE: 194 % 17 50 VARIANCE: 41 % 69 41 VARIANCE: 3 % $725k $750k SALES PRICE VARIANCE: 100 % 7 14 DAYS ON MARKET VARIANCE: 14 % 116.92% 100.68% SALE TO LIST PRICE RATIO VARIANCE: N/A N/A N/A SALE PRICE PER WATERLOOSQFT. REGION MARKET SUMMARY | JULY 2022 WATERLOO REGION ATTACHED HOMES • The Waterloo Region attached luxury market is a Seller's Market with an 82% Sales Ratio • Homes sold for a median of 100.68% of list price in July 2022. • The most active price band is $700,000-$724,999, where the sales ratio is 500% • The median luxury sales price for attached homes is $750,000. • The median days on market for July 2022 was 14 days, up from 7 in July 2021. Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 Jul. 2021 Jul. 2022 MEDIAN DATA REVIEW | JULY TOTAL INVENTORY TOTAL SOLDS
THE DEUTSCHMANN TEAM Becky 519.841.6511 | Drew 519.500.2805 | www.Elitere.ca Thank you for taking time to view this report. For more information about this report and the services we can offer you and your luxury property, please give Becky a call at519.841.6511 or Drew at 519.500.2805. - The Deutschmann Team
