In March, there was a 5.7% decrease in home sales compared to March in 2018, down 7% compared to the previous ten-year average for March.
“The average number of sales in March was brought down by fewer semi-detached, townhomes and condos. I think this can be credited to the lack of inventory and options buyers have in those segments of the market.”
Brian Santos, President of KWAR
March Sales Breakdown:
- 325 Detached Home Sales
- 45 Condominium Sales
- 116 Semi-Detached Home Sales
- 25 Freehold Townhouse Sales
The average sale price of all residential properties sold in March increased by 3.4% to $505,855 compared to March 2018.
Average Home Price:
- $585,668 Detached Homes
- $320,857 Apartment Style Condominiums
- $372,003 Townhomes
- $422,360 Semis
The median price of all residential properties sold in March increased by 3.9% to $474,900.
Market recap from Brian Santos, President of KWAR:
“Sale prices across Kitchener-Waterloo and area experienced increases in March…While pundits are focussing on affordability challenges, this also reflects the greater attribute of livability and how Waterloo Region offers a great quality of life.”
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-slide-in-march/
