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.