October 2008 MLS Statistics

Well, as predicted, we saw some low numbers for October. Bad news in the stock markets, and general bad economic news in the United States have shaken consumer confidence in Waterloo Region. Interest rates are incredibly low and unemployment levels are still very low. We just need to get the consumer confidence back. Many are confident this will be a short term lull. There is no real reason to think otherwise.

On a positive note, the U.S. has elected a new president and this article in today's Waterloo Region Record from Canada Mortgage and Housing shows positive things for the days ahead.

Here are the October 2008 MLS monthly statistics from our two real estate boards:

	K-W This Month	K-W Last Year	Cambridge This Month	Cambridge Last Year
Avg. Sale Price	$ 263,909	$254,494	$251,193	$260,507
Percentage Change	+3.7%		-3.6%
Properties Sold	413	526	162	237
New Listings/Sales Ratio	50.4%	72.6%	33.6%	58.6%
Properties For Sale Now	2048	1813	866	N/A