Simplified Market Update – July 2018 – Home sales down, prices up


By Cindy-lou Schmidt

Home sales in Kitchener-Waterloo have continued to balance out with home sales numbers dropping with home prices continuing to rise.

Cindy-lou’s Simplified Market  Update:

  • In June, a total of 604 residential properties sold in June compared to 716 the same time last year.
  • REALTORS® listed 850 residential properties in K-W and area last month, down 21.5 per cent compared to June of 2017, but fairly close to the historical (2007-2016) average of 859.
  • There were 1030 active listings by the end of June, which is 11% higher than June 2017.

 

June’s  residential sales units included (compared to June 2017):

365 detached (down 21.2%)

151 condominium units (up 6.3%) {includes semis, townhomes, apartment, detached etc.}

38 semi-detached homes (down 29.6%)

43 freehold townhouses (down 15.7 %).

The average sales price of all residential properties sold last month increased 5.2 per cent to $572,206 (down 3.4%) compared to June 2017. Accordingly:

Detached homes sold for an average price of $575,003 (up 5.2%)

Average prices for an apartment style condominium was $314,180 (up 13.2%)

Townhomes sold for an average of $378,562 (up 10.8%)

Semis sold for an average of $391,830 (up 2.09%)

 

What does this mean?

The market continues to balance out as people adjust to their buying power, while the desirability of homes in Waterloo Region remains high. 

 

 

Would you  like an practical valuation of your home to help you make an informed decision about selling? Contact me for a complimentary assessment. The condition of your home, location, and other key factors matter. For more on the official report on our K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.

Kindly,