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
