The hottest market segment right now, in terms of price increases, are condominiums, semi detached houses and townhouses. Their value has jumped by 7% in 2007 relative to 2006. The number of Waterloo condos for sale has remained constant over the last year while the number of buyers has increased. This is particularly true in entry-level residential condominium apartments in the $110,000 - $160,000 range, 550 - 900 square feet.
But Waterloo's condos for sale aren't all cheap. Prices range from $110,000 for a unit as small as 550 square feet, to about $300,000 for 1,600 square feet. There are also condominium fees, usually calculated on a square-footage basis, that can add an ongoing cost of $200 to $400 a month. And in some developments, people buy underground parking as well.
So why is the condo market so hot in Waterloo Region, where $300,000 can buy a detached house in the suburbs? Condos are being sold to an absolutely different market, one that will pay to not have the property, maintenance and issues that go with a house. This market is mostly made up of young professionals or empty nesters looking to downsize.
For assistance locating the pefect Waterloo condo for sale, Cindy's site is a great place to start your search. New real estate listings are added regularily so you may want to bookmark the site and return often. Cindy Cody will be to happy to answer any questions you may have regarding any condo of interest to you.
For more information about Waterloo condos for sale, please feel free to contact Cindy Cody.
