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Market Updates

Kitchener – Waterloo real estate market recap: November 2018

By December 6, 2018No Comments

In November, there was a 14.2% increase in home sales compared to November in 2017.

 

“For the second straight month we are reporting stronger than average sales.”

Brian Santos, President of KWAR

 

November Sales Breakdown:

  • 265 Detached Home Sales
  • 152 Condominium Sales
  • 27 Semi-Detached Home Sales
  • 31 Freehold Townhouse Sales

The average sale price of all residential properties sold in November increased by 7.6% to $477,526 compared to November 2017.

Average Home Price:

  • $580,551 Detached Homes
  • $305,334 Apartment Style Condominiums
  • $361,177 Townhomes
  • $416,878 Semis

The median price of all residential properties sold in November increased by 6.3% to $443,800.

Market recap from Brian Santos, President of KWAR:

“Affordability is a concern in Waterloo Region as we continue to see prices increase, especially for detached homes. While we believe this is more a reflection of our region being ‘discovered’ by buyers from the GTA, it is resulting in more entry-level clients pursuing condominiums and townhomes.  Combined with an ongoing tight supply of listings buyers are facing continued upward pressure on sale prices in the region.”

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/november-sales-second-best/

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