In May, there was a 12.5 percent increase compared to last month and a decrease of 15.3 percent compared to home sales a year ago.
“Although unit sales were down substantially compared to last year’s manic market, May was still a strong month of home buying and selling in Kitchener-Waterloo and area.”
Tony Schmidt, President of KWAR
May Sales Breakdown:
- 412 Detached Home Sales
- 169 Condominium Sales
- 46 Semi-Detached Home Sales
- 53 Freehold Townhouse Sales
The average sale price of all residential properties sold in May decreased 2.4 percent to $482,873 compared to May 2017.
Average Home Price:
- $572,206Detached Homes
- $301,052 Apartment Style Condominiums
- $365,715 Townhomes
- $393,616 Semis
The median price of all residential properties sold in May decreased 0.9 percent to $445,000.
Market recap from Tony Schmidt, President of KWAR:
“With interest rates expected to increase in July, we’re seeing strong demand for homes in Waterloo region.”
The average days it took to sell a home in May was 20 days, compared to 11 days in May 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-may
