By Cindy-lou Schmidt
Did the summer vacation months cause real estate activity to dip? I think not!
In this Simplified Market Update for August 2019, we see a big number show up for townhomes and average sale prices rise yet again! Watch for full details for up-to-date market statistics for Kitchener Waterloo during the month of July. Or read on below for specifics!
NUMBER OF SALES: July 2019 compared to July 2018
- 322 detached homes were sold (up 16.4% )
- 62 condominium apartments (down 6.1%)
- 148 freehold townhouses (up 45.1%).
- 42 semi-detached homes (down 22.2%)
AVERAGE SALES PRICE SUMMARY: July 2019 compared to July 2018
The average sale price of all residential properties sold increased 9.3% to $521,101
Broken down by style of home:
- Detached homes sold for an average price of $613,244 (up 5.4%)
- Apartment style condominiums increased by $339,137 (up 15.9%).
- Townhomes sold for an average of $414,062 (up 17.0%)
- Semis sold for an average of $434,136 (up 11.9%)
HOMES LISTED ON MARKET: July 2019 compared to July 2018
Realtors listed 844 residential properties in K-W and area last month, a 12.8% increase
- 10.4% increase compared to the previous ten-year average
- The total number of homes available for sale in active status at the end of June totaled 863, a decrease of 8.7 per cent compared to July of last year, and well below the previous ten-year average of 1467 listings for July.
- The average days it took to sell a home in June was 22 days equal to July 2018.
I hope you enjoyed my Simplified Market Update! I strive to keep you informed and empowered so you can make smart real estate decisions and build lifelong wealth.