A “Normal” November in Home Sales


By Cindy-lou Schmidt

Well it’s back to normal at least for now! Last month 425 residential properties were sold In K-W and area through the MLS System of KWAR. That is 20.1 percent less than November of 2016 but nearly on the mark of the 5-year November average.

November’s sales units included:

246 detached homes (down 30.9%)

99 condominium units (down 15.4 %)

52 semi-detached homes (up 67.7 %)

27 freehold townhouses (down 3.6 %).

The average price of all residential properties sold last month increased 8 per cent to $445,363 compared to November 2016. Accordingly:

Detached homes sold for an average price of $515,721 (up 8.9%)

Average prices for an apartment style condominium was $277,660 (up 30.7%)

Townhomes sold for an average of $369,678 (up 19.3%)

Semis sold for an average of $376,677 (up 15.1%)

Cindy-lou’s 1-Minute Summary:

The number of residential properties sold continues to drop, yet home prices in every style of home continue to rise by an average of 8%, with the greatest increase in price in apartment style condominiums. Semi-detached homes also saw a nearly 70% increase in popularity. Housing preferences mark increased density in Waterloo Region whether due to price or lifestyle.

Buyers: A true buyer’s market could be on the horizon as choice continues to rise.

Sellers: Fear not, a healthy market and investment in Waterloo Region indicates a likelihood of continued progressive value in your property.

 

If you’d like an accurate valuation of your home, contact us for a complimentary assessment. The condition of your home, location, and other key factors matter. For more on the official report on November’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.

Think big,

Cindy-Lou Schmidt
Cindy-Lou Schmidt

Broker / Manager
 
 
Cindy-Lou is a dedicated Broker/Owner and REALTOR® based in Waterloo who is proud to serve her hometown and community. She is adamant in the value of home ownership both for the financial and wealth benefits, but also as a foundation of healthy communities. With 7 years in the real estate business, and as a private investor since 2005, her experience and strategic approach to homes sales has been pivotal in building loyalty with her clients over the years.

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