THE DEUTSCHMANN TEAM LUXURY MARKET REPORT WATERLOO | AUGUST 2021
BECKY DEUTSCHMANN REALTOR® | THE DEUTSCHMANN TEAM
becky@elitere.ca 519.841.6511 www.elitere.ca 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. My team and I work with buyers, sellers and investors in all price ranges in Kitchener, Waterloo, Cambridge, Guelph and all surrounding areas. 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.
DREW DICKINSON
REALTOR® | THE DEUTSCHMANN TEAM
drew@elitere.ca 519.500.2805 www.elitere.ca 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. 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 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. 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 multi-residential, 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.
– LUXURY REPORT EXPLAINED – 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. 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. 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.
REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month. 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. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. 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.
AUGUST
2021
WATERLOO REGION ONTA RI O
WATERLOO REGION
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JULY 2021 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $4,000,000+ $3,600,000 - $3,999,999 $3,200,000 - $3,599,999
1
3
0
0
Total Sales: 130
Total Sales Ratio2: 333%
1 1
$2,100,000 - $2,399,999
4
2 0
1 4
$1,700,000 - $1,899,999
$1,500,000 - $1,699,999
3
$1,400,000 - $1,499,999
3
11 11 12 4
17 5
$1,200,000 - $1,249,999
18
2
$1,150,000 - $1,199,999
1
8
1
$1,250,000 - $1,299,999
$1,100,000 - $1,149,999
Seller's Market
4
2
$2,400,000 - $2,799,999
$1,300,000 - $1,399,999
Total Inventory: 39
1
$2,800,000 - $3,199,999
$1,900,000 - $2,099,999
2
22
1
25
Beds3
Price
DOM
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0-1 Bedrooms
NA
NA
NA
0
0
NA
2 Bedrooms
NA
NA
NA
0
0
NA
3 Bedrooms
$1,201,500
5
3
20
6
333%
4 Bedrooms
$1,280,000
7
4
54
15
360%
5 Bedrooms
$1,200,500
7
4
44
8
550%
6+ Bedrooms
$1,227,500
9
4
12
10
120%
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.
WATERLOO REGION
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,317,500
$1,330,000
2 Jul-20
$1,347,500
$1,330,000
$1,351,000
$1,358,000
$1,340,000
Solds
$1,300,000
105
17
25
Aug-20
Sep-20
84
34
Oct-20
42
Nov-20
61
Dec-20
Jan-21
14
22
Feb-21
Mar-21
$1,242,539
134
72
52 22
$1,296,450
145
90
65 33
$1,265,000
$1,250,000
148
137
114
97
75
$1,470,000
Inventory
130
88 39
Apr-21
May-21
Jun-21
Jul-21
MEDIAN DATA REVIEW | JULY TOTAL INVENTORY Jul. 2020
Jul. 2021
75
TOTAL SOLDS Jul. 2020
Jul. 2021
39 VARIANCE: -48 %
130 VARIANCE: 6400 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Jul. 2020
Jul. 2021
N/A
N/A VARIANCE: N/A
2
Jul. 2020
Jul. 2021
94.07% 116.47% VARIANCE: 24 %
SALES PRICE Jul. 2020
1.32m
$
Jul. 2021
1.24m VARIANCE: -6 % $
DAYS ON MARKET Jul. 2020
Jul. 2021
56
7 VARIANCE: -88 %
WATERLOO REGION MARKET SUMMARY | JULY 2021 • The Waterloo Region single-family luxury market is a Seller's Market with a 333% Sales Ratio. • Homes sold for a median of 116.47% of list price in July 2021. • The most active price band is $1,100,000-$1,149,999, where the sales ratio is 2500%. • The median luxury sales price for single-family homes is $1,242,539. • The median days on market for July 2021 was 7 days, down from 56 in July 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
WATERLOO REGION
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | JULY 2021 Inventory
Sales
Luxury Benchmark Price 1: $700,000 $1,600,000+
0 0
$1,500,000 - $1,599,999
0 0
Total Inventory: 17
$1,400,000 - $1,499,999
0 0
Total Sales: 69
$1,300,000 - $1,399,999
0 0
Seller's Market
$1,200,000 - $1,299,999
0
$1,100,000 - $1,199,999
0
$1,000,000 - $1,099,999
0 0
$900,000 - $949,999
0
3
1 2
6
1
$750,000 - $774,999
9 3
$725,000 - $749,999
1
6
1
$775,000 - $799,999
$700,000 - $724,999
2
1
$850,000 - $899,999 $800,000 - $849,999
1
1
$950,000 - $999,999
Total Sales Ratio2: 406%
1
17
0
31
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
NA
NA
NA
0
0
NA
3,000 - 3,999
NA
NA
NA
0
0
NA
4,000 - 4,999
NA
NA
NA
0
0
NA
5,000 - 5,999
NA
NA
NA
0
0
NA
6,000 - 6,999
NA
NA
NA
0
0
NA
7,000+
NA
NA
NA
0
0
NA
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.
WATERLOO REGION
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$775,000
$772,000
$755,000
$721,000
$770,000
Inventory
$860,000
$813,000
Solds
$715,000
$754,257
$741,800
$740,000
$740,000
$725,000
83
47
38
16
17 1
3
Jul-20
Aug-20
18
16
6
Sep-20
13
Oct-20
14
12
Nov-20
12
3
Dec-20
10
8
Jan-21
17
7
12
Feb-21
Mar-21
48
33
69
59
30
Apr-21
May-21
17
Jun-21
Jul-21
MEDIAN DATA REVIEW | JULY TOTAL INVENTORY Jul. 2020
Jul. 2021
16
TOTAL SOLDS Jul. 2020
Jul. 2021
17 VARIANCE: 6 %
69 VARIANCE: 6800 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Jul. 2020
Jul. 2021
N/A
N/A VARIANCE: N/A
1
Jul. 2020
Jul. 2021
97.50% 116.92% VARIANCE: 20 %
SALES PRICE Jul. 2020
775k
$
Jul. 2021
725k VARIANCE: -6 % $
DAYS ON MARKET Jul. 2020
Jul. 2021
33
7 VARIANCE: -79 %
WATERLOO REGION MARKET SUMMARY | JULY 2021 • The Waterloo Region attached luxury market is a Seller's Market with a 406% Sales Ratio. • Homes sold for a median of 116.92% of list price in July 2021. • The most active price band is $750,000-$774,999, where the sales ratio is 900%. • The median luxury sales price for attached homes is $725,000. • The median days on market for July 2021 was 7 days, down from 33 in July 2020.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
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
THE DEUTSCHMANN TEAM
Becky 519.841.6511 | Drew 519.500.2805 | www.Elitere.ca
