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Market Updates

Kitchener – Waterloo real estate market recap: February 2019

By March 8, 2019No Comments

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

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