In October, there was a 7.8% increase in home sales compared to October in 2017.
“It was a stronger than average October for home sales and listing activity. Gradually increasing interest rates could be nudging both buyers and sellers from the sidelines of the housing market.”
Tony Schmidt, President of KWAR
October Sales Breakdown:
- 297 Detached Home Sales
- 128 Condominium Sales
- 36 Semi-Detached Home Sales
- 47 Freehold Townhouse Sales
The average sale price of all residential properties sold in October increased by 7.7% to $489,725 compared to October 2017.
Average Home Price:
- $576,731 Detached Homes
- $310,215 Apartment Style Condominiums
- $387,602 Townhomes
- $403,750 Semis
The median price of all residential properties sold in October increased by 6.5% to $444,500.
Market recap from Tony Schmidt, President of KWAR:
“Not surprisingly we’re seeing the biggest surges in average price happening in the denser forms of housing such as condos.”
To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.