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Market Updates

Kitchener – Waterloo real estate market recap: April 2018

By May 8, 2018July 5th, 2018No Comments

In April, there was a 13.7 percent increase compared to last month and a decrease of 19.6  percent compared to home sales a year ago.

 

“Home sales in April were as brisk as the temperatures. While down from last year’s record breaking number of sales, it was a slightly more active April than average historically speaking.”

Tony Schmidt, President of KWAR

 

April Sales Breakdown:

  • 343 Detached Home Sales
  • 185 Condominium Sales
  • 41 Semi-Detached Home Sales
  • 46 Freehold Townhouse Sales

The average sale price of all residential properties sold in April decreased 6.6 percent to $478,578 compared to April 2017.

Average Home Price:

  • $569,159 Detached Homes
  • $296,958 Apartment Style Condominiums
  • $386,072 Townhomes
  • $402,842 Semis

The median price of all residential properties sold in April decreased 7.4 percent to $440,000.

Market recap from Tony Schmidt, President of KWAR:

“Looking closer at how the forces of supply and demand were at work last month, it becomes really clear that the question of it being a buyer’s or seller’s market really depends on which price range you’re in, last month 71 per cent of all residential sales were for less than half a million dollars, but the number of homes listed in that price range on our MLS® System right now is a little less than half of all the inventory.”

The average time it took to sell a home in April was 21 days, compared to 11 days in April 2017.

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/april-home-sales-brisk

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