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Market Updates

Kitchener – Waterloo real estate market recap: August 2018

By September 7, 2018No Comments

In August, there was a 0.8% decrease compared to last month and an increase of 4.8% compared to home sales a year ago.

 

“On a year-to-date basis, we’re still well below last year’s record-breaking number of home sales but still in line with historical averages.”

Tony Schmidt, President of KWAR

 

August Sales Breakdown:

  • 301 Detached Home Sales
  • 129 Condominium Sales
  • 35 Semi-Detached Home Sales
  • 33 Freehold Townhouse Sales

The average sale price of all residential properties sold in August increased by 11.5% to $493,358 compared to August 2017.

Average Home Price:

  • $583,564 Detached Homes
  • $335,827 Apartment Style Condominiums
  • $350,803 Townhomes
  • $401,011 Semis

The median price of all residential properties sold in August increased 10.4% to $458,000.

Market recap from Tony Schmidt, President of KWAR:

“I certainly don’t see interest in Waterloo region as a place to live and work slowing down anytime soon, so we could definitely stand to see some more housing supply.”

The average days it took to sell a home in August was 28 days.

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/august-home-sales/

 

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