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City Series: Kitchener-Waterloo Region Home Sellers are Saving Thousands in Commission

June 11, 2020

Life in the tri-cities of Kitchener, Waterloo, and Cambridge is pretty sweet. Nestled along the Grand River, the region features small town charm with big city amenities. It is an excellent place to live, work, and play in – and a great place to save thousands in commission when selling your home!

Live

As the fourth largest population centre in Ontario, many people enjoy living in the Kitchener-Waterloo-Cambridge region where they can appreciate all that the tri-cities have to offer. Compared to the GTA, residents can enjoy more affordable home prices without compromising on “city life”. As of May 2020, the average selling price for a home in the Kitchener-Waterloo-Cambridge region is $568,275, a year-over-year increase of 6.5% and a month-over-month decrease of 0.08% (decrease due to the COVID-19 pandemic)1.

And even though we are in a pandemic, we are still seeing our Purplebricks home sellers in the Kitchener-Waterloo-Cambridge region successfully sell their home while saving thousands in commission! These sellers sold their homes in less than a month!

SOLD! Saved $32,000 in Commission

City: St. Clements

Sold Date: April 11, 2020

Days on Market: 25

SOLD! Saved $19,000 in Commission

City: Cambridge

Sold Date: May 22, 2020

Days on Market: 2

SOLD! Saved $19,000 in Commission

City: Waterloo

Sold Date: May 31, 2020

Days on Market: 13

SOLD! Saved $26,000 in Commission

City: Kitchener

Sold Date: April 8, 2020

Days on Market: 23

And as for homebuyers? There is an opportunity for buyers to purchase a home in the Kitchener-Waterloo-Cambridge region with less competition than we would normally see during a spring market, prior to the COVID-19 pandemic in Canada. Homes are still selling, and many buyers can enjoy some month-over-month price reductions. Plus, if you purchase a home with a Purplebricks dedicated Home Buying REALTOR®, not only will you receive $2,000 in cash back*, our local agents will use their expertise to understand your needs and help you navigate the new market reality to land you your dream home. Added bonus – you can sign up for our automatic email alerts to keep you informed of homes that meet your criteria as soon as they hit the market.

Have a future post-secondary student in your home? There are so many post-secondary institutions to choose from. There is the University of Waterloo, Wilfred Laurier University, McMaster University (satellite campus), and Conestoga College. The quality and quantity of post-secondary options for students graduating high school is unlike many areas in Canada.

Work

Pre-COVID-19, the unemployment rate in the region was at 5.4% in January 2020, which was on par with the national average. The COVID-19 pandemic has impacted unemployment rates across the country. As of May 2020, Canada’s unemployment rate is 11.5% and Kitchener-Waterloo-Cambridge region’s is 10.3%2.

There are over 1,500 tech companies in the region, which accounts for 8% of all jobs in the area3. Only Toronto, Ottawa, and Vancouver beat out the region for tech employment in Canada. Information and communications technology companies in Kitchener-Waterloo-Cambridge include Blackberry, OpenText, D2L, and Honeywell Aerospace. And not too far from the region is another exciting company that has an office in Hamilton – we do! If you’d like to join us in revolutionizing the real estate industry, visit our careers page to explore current opportunities. We also have remote working opportunities for licensed real estate positions.

Don’t work in Kitchener-Waterloo-Cambridge but want to live there? You have plenty of commuting options. If travelling by car, quick access to the 401, 403 and Highway 6 will help you get to where you need to go with ease. And if you prefer public transit, existing city bus, VIA Rail train, GO Train and GO bus options are available.

Play

One of Canada’s oldest farmer’s markets, the Kitchener Market, offers residents local produce, artisanal goods, and classes! During the pandemic, the Farmer’s Market is open on Saturdays with added safety measures in place. And although in-person classes are postponed, they are offering virtual classes in the areas of art, exercise and cooking4!

The Kitchener-Waterloo-Cambridge region is a nature lover’s paradise. The much-loved Victoria Park features playgrounds, splash pads, fields, a bandstand, and its very own lake. There are plenty of hiking trails for all skill levels as well. If a sandy beach is more your cup of tea, head to Laurel Creek Conservation Area to suntan and hike. And you cannot forget the Grand River! It is an excellent location for canoeing due to its ease of access to the water, though it would take you a while to canoe it’s 280 km length.

Kitchener-Waterloo is a city with deep Germanic roots. Until 1916, the city was known as Berlin! These roots are celebrated at the annual nine-day Oktoberfest, the world’s second largest Oktoberfest. This year’s Oktoberfest is scheduled to start October 9 and, at time of writing, is not cancelled due to COVID-19. Even if Oktoberfest ends up being cancelled this year, you can still enjoy the taste of Germany in the tri-cities. Metro and Two Goblets restaurants serve German food and are still open for takeout during the pandemic. We are ready for some bratwurst!

The Grand River, Waterloo

Ready to sell your home in the Kitchener-Waterloo-Cambridge region or want to call the tri-cities “home”? A Purplebricks REALTOR® can help.


Purplebricks is here to support Canadians by providing them with a full-service real estate experience while saving them thousands in commission when selling their home. As for homebuyers, we share the commission by giving buyers $2,000 in cash back* when they buy a home with us. Call 1-855-999-9740 for more information.

†When compared to a commission of 5%, taking into account fees paid to Purplebricks and the applicable taxes, rounded down to the nearest thousand.