In February, there was a 40 percent increase in residential properties sold through Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) compared to last month and a decrease of 20.5 percent compared to home sales a year ago.
“If you compare last February against the ten year average of sales, it was a pretty typical February”
Tony Schmidt, President of KWAR
February Sales Breakdown:
- 212 Detached Home Sales
- 118 Condominium Sales
- 25 Semi-Detached Home Sales
- 17 Freehold Townhouse Sales
The average sale price of all residential properties sold in February increased 3.1 percent to $478,801 compared to February 2017.
Average Home Price:
- $577,609 Detached Homes
- $265,144 Apartment Style Condominiums
- $386,515 Townhomes
- $391,628 Semis
The median price of all residential properties sold in February increased 4.8 percent to $524,000.
Market recap from Tony Schmidt, President of KWAR:
“The market has certainly cooled from this time last year, which is to be expected with the government’s efforts to make home ownership more difficult for home buyers,”
To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.