Through the first nine months of 2013, high-end home sales in Waterloo Region appear to be significantly outpacing last year’s numbers.
MLS reports 91 sales of homes priced between $600,000 and $1 million so far this year, up from 59 such sales at this point in 2012.
Century 21 broker Roy B. Singh says it’s a sign that uncertainty over the future of BlackBerry isn’t causing issues for the wider community.
“You would suspect that the market would be down, but the market’s very, very good,” he tells CTV News.
“They do take a little bit longer to sell than the homes in the $350,000 price range, but that’s normal in our area.”
Tim Ingold of Coldwell Banker Peter Benninger Realty agrees, saying he’s seen the area take economic hits over his 27 years in the business, but never seen the real estate market fall irrevocably.
“We’ve weathered the storm many times. Over the long haul, it’s always been steady,” he says.
Singh says price is one of the biggest factors affecting home sales – and when a high-end home is priced unrealistically, that factor is even more noticeable.
“If the home is overpriced, people feel bad about it. They don’t want to insult the seller, so they don’t make offers,” he says.
