Simplified Market Update – October 2019 – Second strongest September sales


By Cindy-lou Schmidt

I definitely felt the heat with the homes I listed for my sellers last month and it was a good thing!

This September ended up being the second strongest record of September sales on records with this being on the second time this month has seen the number of units sold over 500.

Watch for full details for up-to-date market statistics for Kitchener Waterloo   or read on below for specifics!

NUMBER OF SALES:  September 2019 compared to September 2018

  • 526 homes sold through MLS in KWAR total (up 17.7%)
  • 330 detached homes were sold (up 20.4%% )
  • 38 condominium apartments (down 24%)
  • 125 freehold townhouses (up 34.4%).
  • 33 semi-detached homes (up 10%)

AVERAGE SALES PRICE SUMMARY: September 2019 compared to September 2018

The average sale price of all residential properties sold increased 10.2% to $541,850.

Broken down by style of home:

  • Detached homes sold for an average price of $612,643 (up 7.1%)
  • Apartment style condominiums increased by $335,110 up 3%).
  • Townhomes sold for an average of $439,522 (up 18.9%)
  • Semis sold for an average of $459,588 (up 18.9%)

HOMES LISTED ON MARKET: August 2019 compared to August 2018

Realtors listed 811 residential properties in K-W and area last month, a 2.1% decrease

  •  5.2% 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 775, a decrease of 21.7% and well below the previous ten-year average of 1,458 listings for the month
  • The average days it took to sell a home in September was 22 days vs. 25 days.

MY TIPS:

  1. Use a local agent that understands strategy in a competitive market
  2. If you have a townhome you want to sell, take advantage of this continuing townhome-hungry market.

I hope you enjoyed my Simplified Market Update!  I strive to keep you  informed and empowered so you can make smart real estate decisions for wealth and wellness.

Kindly,