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Market Updates

Kitchener – Waterloo real estate market recap: September 2019

By October 4, 2019No Comments

In September, home sales in Kitchener-Waterloo were up 17.7% compared to September 2018.

 

This was the second strongest September for home sales we’ve had on record, and only the second time transactions exceeded 500 units in the month of September.

Brian Santos, President of KWAR

September Sales Breakdown:

  • 330 Detached Home Sales
  • 38 Condominium Sales
  • 125 Freehold Townhouse Sales
  • 33 Semi-Detached Home Sales

The average sale price of all residential properties sold in September increased by 10.2% to $541,850 compared to September 2018.

Average Home Price:

  • $612,643 Detached Homes
  • $335,110 Apartment Style Condominiums
  • $439,522 Townhomes
  • $459,588 Semis

The median price of all residential properties sold in September increased by 12.6% to $510,000.

It took an average of 22 days to sell a home in September, down two days from September 2018.

Market recap from Brian Santos, President of KWAR:

“Tight supply is the new normal…We’ve been tracking under two months of supply for over three years nowand this has put steady upward pressure on prices.

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.

Source: kwar.ca/second-strongest-september

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