In May, home sales in Kitchener-Waterloo were on par with May in 2018, up 7.2% compared to the previous ten-year average for May.
“May is often the most active month in a given year, but the way sales picked up in momentum after the Victoria Day holiday makes me think we could see sales activity in June surpass May.”
Brian Santos, President of KWAR
May Sales Breakdown:
- 429 Detached Home Sales
- 68 Condominium Sales
- 60 Semi-Detached Home Sales
- 137 Freehold Townhouse Sales
The average sale price of all residential properties sold in May increased by 10.6% to $534,348 compared to May 2018.
Average Home Price:
- $623,289 Detached Homes
- $332,309 Apartment Style Condominiums
- $402,426 Townhomes
- $432,207 Semis
The median price of all residential properties sold in May increased by 11.2% to $495,000.
Market recap from Brian Santos, President of KWAR:
“It was good to see more listings coming onto the market in May, but home buying demand continues to outpace the number of homes available…I hope to see more listing activity in June and into the summer months. With mortgage rates as low as they are—demand from buyers is bound to stay strong, making it a good time to sell your home.”
To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.
Find more information about the Kitchener-Waterloo real estate market here.