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Kitchener – Waterloo real estate market recap: September 2019

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In September, home sales in Kitchener-Waterloo were up 17.7% compared to September 2018.

 

This was the second strongest September for home sales we’ve had on record, and only the second time transactions exceeded 500 units in the month of September.

Brian Santos, President of KWAR

September Sales Breakdown:

  • 330 Detached Home Sales
  • 38 Condominium Sales
  • 125 Freehold Townhouse Sales
  • 33 Semi-Detached Home Sales

The average sale price of all residential properties sold in September increased by 10.2% to $541,850 compared to September 2018.

Average Home Price:

  • $612,643 Detached Homes
  • $335,110 Apartment Style Condominiums
  • $439,522 Townhomes
  • $459,588 Semis

The median price of all residential properties sold in September increased by 12.6% to $510,000.

It took an average of 22 days to sell a home in September, down two days from September 2018.

Market recap from Brian Santos, President of KWAR:

“Tight supply is the new normal…We’ve been tracking under two months of supply for over three years nowand this has put steady upward pressure on prices.

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/second-strongest-september

Kitchener – Waterloo real estate market recap: August 2019

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In August, home sales in Kitchener-Waterloo were down 9.1% compared to August 2018.

 

“The number of homes sold last month was below the average for August; however, we continue to see strong price gains across all property types.”

Brian Santos, President of KWAR

August Sales Breakdown:

  • 267 Detached Home Sales
  • 56 Condominium Sales
  • 97 Freehold Townhouse Sales
  • 39 Semi-Detached Home Sales

The average sale price of all residential properties sold in August increased by 6.4% to $524,482 compared to August 2018.

Average Home Price:

  • $615,568 Detached Homes
  • $324,778 Apartment Style Condominiums
  • $420,239 Townhomes
  • $441,802 Semis

The median price of all residential properties sold in August increased by 8.1% to $495,000.

It took an average of 26 days to sell a home in August, down two days from August 2018.

Market recap from Brian Santos, President of KWAR:

“Homes in Kitchener-Waterloo are definitely in high demand, and there is strong competition among buyers trying to find one that will suit them.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/august-home-sales-ease/

Kitchener – Waterloo real estate market recap: July 2019

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In July, home sales in Kitchener-Waterloo were up 15.1% compared to July 2018.

 

“Home sales continued their strong momentum from last month.”

Brian Santos, President of KWAR

July Sales Breakdown:

  • 322 Detached Home Sales
  • 62 Condominium Sales
  • 141 Freehold Townhouse Sales
  • 42 Semi-Detached Home Sales

The average sale price of all residential properties sold in July increased by 9.3% to $521,101 compared to July 2018.

Average Home Price:

  • $613,244 Detached Homes
  • $339,137 Apartment Style Condominiums
  • $414,062 Townhomes
  • $434,136 Semis

The median price of all residential properties sold in July increased by 10.8% to $489,450.

Market recap from Brian Santos, President of KWAR:

“The temperature is matching the market we’re continuing to see strong consumer demand that is making for a busier than normal market for the middle of summer.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/strong-home-sales-july

Kitchener – Waterloo real estate market recap: June 2019

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In June, home sales in Kitchener-Waterloo were up 8.8% compared to June 2018.

 

“Home sales continued their strong momentum from last month. On a year-to-date basis we’re seeing sales have increased slightly over last year’s mid-year mark.”

Brian Santos, President of KWAR

June Sales Breakdown:

  • 404 Detached Home Sales
  • 50 Condominium Sales
  • 45 Semi-Detached Home Sales
  • 159 Freehold Townhouse Sales

The average sale price of all residential properties sold in June increased by 8.9% to $533,619 compared to June 2018.

Average Home Price:

  • $618,186 Detached Homes
  • $332,716 Apartment Style Condominiums
  • $411,126 Townhomes
  • $430,427 Semis

The median price of all residential properties sold in June increased by 9.9% to $494,500.

Market recap from Brian Santos, President of KWAR:

“We’re still in a solid seller’s market situation heading into the summer months. While more new listings are coming onto the market, strong buying demand is keeping supply tight.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/strong-home-sales-in-june/

Kitchener – Waterloo real estate market recap: May 2019

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In May, home sales in Kitchener-Waterloo were on par with May in 2018, up 7.2% compared to the previous ten-year average for May.

 

“May is often the most active month in a given year, but the way sales picked up in momentum after the Victoria Day holiday makes me think we could see sales activity in June surpass May.”

Brian Santos, President of KWAR

May Sales Breakdown:

  • 429 Detached Home Sales
  • 68 Condominium Sales
  • 60 Semi-Detached Home Sales
  • 137 Freehold Townhouse Sales

The average sale price of all residential properties sold in May increased by 10.6% to $534,348 compared to May 2018.

Average Home Price:

  • $623,289 Detached Homes
  • $332,309 Apartment Style Condominiums
  • $402,426 Townhomes
  • $432,207 Semis

The median price of all residential properties sold in May increased by 11.2% to $495,000.

Market recap from Brian Santos, President of KWAR:

“It was good to see more listings coming onto the market in May, but home buying demand continues to outpace the number of homes available…I hope to see more listing activity in June and into the summer months. With mortgage rates as low as they are—demand from buyers is bound to stay strong, making it a good time to sell your home.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/home-sales-show-may-momentum/

Kitchener – Waterloo real estate market recap: April 2019

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In April, there was a 1.1% increase in home sales compared to April in 2018, up 2.2% compared to the previous ten-year average for April.

 

“While sales of detached homes did jump a fair bit compared to the same month last year, they were actually on par with the previous 10-year average for April.”

Brian Santos, President of KWAR

April Sales Breakdown:

  • 394 Detached Home Sales
  • 75 Condominium Sales
  • 113 Semi-Detached Home Sales
  • 41 Freehold Townhouse Sales

The average sale price of all residential properties sold in April increased by 10.9% to $529,800 compared to April 2018.

Average Home Price:

  • $611,803 Detached Homes
  • $339,426 Apartment Style Condominiums
  • $405,013 Townhomes
  • $433,949 Semis

The median price of all residential properties sold in April increased by 11.4% to $490,000.

Market recap from Brian Santos, President of KWAR:

“These are the highest sale prices we’ve ever posted in a single month. It’s only the third time the overall residential sale price has exceeded half a million, and for the first time, the average price of a detached home climbed over the 600-thousand-dollar mark.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/april-home-sales-up-over-last-year

Kitchener – Waterloo real estate market recap: March 2019

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In March, there was a 5.7% decrease in home sales compared to March in 2018, down 7% compared to the previous ten-year average for March.

 

“The average number of sales in March was brought down by fewer semi-detached, townhomes and condos. I think this can be credited to the lack of inventory and options buyers have in those segments of the market.”

Brian Santos, President of KWAR

March Sales Breakdown:

  • 325 Detached Home Sales
  • 45 Condominium Sales
  • 116 Semi-Detached Home Sales
  • 25 Freehold Townhouse Sales

The average sale price of all residential properties sold in March increased by 3.4% to $505,855 compared to March 2018.

Average Home Price:

  • $585,668 Detached Homes
  • $320,857 Apartment Style Condominiums
  • $372,003 Townhomes
  • $422,360 Semis

The median price of all residential properties sold in March increased by 3.9% to $474,900.

Market recap from Brian Santos, President of KWAR:

“Sale prices across Kitchener-Waterloo and area experienced increases in March…While pundits are focussing on affordability challenges, this also reflects the greater attribute of livability and how Waterloo Region offers a great quality of life.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/home-sales-slide-in-march/

Kitchener – Waterloo real estate market recap: February 2019

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In February, there was an 8.3% decrease in home sales compared to February in 2018.

 

“The series of winter storms in February not only kept buyers indoors and off the roads, but also away from open houses and viewings…This was the lowest amount of sales we’ve seen in February in a long time, but it really isn’t surprising given the wild weather we experienced last month.”

Brian Santos, President of KWAR

February Sales Breakdown:

  • 178 Detached Home Sales
  • 105 Condominium Sales
  • 23 Semi-Detached Home Sales
  • 36 Freehold Townhouse Sales

The average sale price of all residential properties sold in February increased by 3% to $490,668 compared to February 2018.

Average Home Price:

  • $597,965 Detached Homes
  • $319,536 Apartment Style Condominiums
  • $395,331 Townhomes
  • $448,123 Semis

The median price of all residential properties sold in February increased by 6.9% to $465,000.

Market recap from Brian Santos, President of KWAR:

“Despite the chill we saw in the number of sales last month, the price gains reflect that demand continues to outpace supply.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/frigid-february-home-sales

Kitchener – Waterloo real estate market recap: January 2019

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In January, there was a 14.6% increase in home sales compared to January in 2018.

 

“January was surprisingly busy with an above average number of home sales.”

Brian Santos, President of KWAR

January Sales Breakdown:

  • 189 Detached Home Sales
  • 80 Condominium Sales
  • 20 Semi-Detached Home Sales
  • 17 Freehold Townhouse Sales

The average sale price of all residential properties sold in January increased by 5.3% to $484,076 compared to January 2018.

Average Home Price:

  • $564,718 Detached Homes
  • $303,379 Apartment Style Condominiums
  • $368,227 Townhomes
  • $407,852 Semis

The median price of all residential properties sold in January increased by 5.3% to $455,000.

Market recap from Brian Santos, President of KWAR:

“It was a positive sign to see an uptick in the number of residential listings hitting the MLS® system last month. However, the total number of homes available for sale continues to perform well below historical averages.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/january-home-sales-up

Kitchener – Waterloo real estate market recap: December 2018

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In December, there was an 11.1% decrease in home sales compared to December in 2017.

“The combination of rising interest rates and the mortgage stress test definitely took some steam out of the market relative to what we saw in the previous two years.”

Brian Santos, President of KWAR


The average sale price of all residential properties sold in December decreased by 13.2% compared to 2017.

Average Home Price In 2018:

  • $575,412 Detached Homes
  • $304,676 Apartment Style Condominiums
  • $373,307 Townhomes
  • $396,391 Semis

The median price of all residential properties sold in 2018 increased by 3.6% to $445,304.

Market recap from Brian Santos, President of KWAR:

“2018 continued to be a seller’s market in the region with stable sales activity and homeowners realizing solid gains in their property values.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/kw-home-sales-2018