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Market Updates

Kitchener – Waterloo real estate market recap: July 2018

By August 6, 2018No Comments

In July, there was a 16.8% decrease compared to last month and a decrease of 10.6% compared to home sales a year ago.

“On a year-to-date basis, there have been 3,601 home sales during the first half of the year, a decrease of 18.0 per cent.”

 

“The value of homes not only remains steady but continues to gradually increase.”

Tony Schmidt, President of KWAR

 

July Sales Breakdown:

  • 282 Detached Home Sales
  • 130 Condominium Sales
  • 53 Semi-Detached Home Sales
  • 35 Freehold Townhouse Sales

The average sale price of all residential properties sold in July increased by 5.3% to $480,145 compared to July 2017.

Average Home Price:

  • $584,337 Detached Homes
  • $292,714 Apartment Style Condominiums
  • $359,278 Townhomes
  • $387,664 Semis

The median price of all residential properties sold in July increased 7.1% to $443,700.

Market recap from Tony Schmidt, President of KWAR:

“The competition from buyers is still out there, but not nearly as prevalent as the past two years. This is showing up in the $400,000-$600,000 price point where we continue to see the shortest average days on market.”

The average days it took to sell a home in July was 23 days, equivalent to July 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/home-sales-july

 

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