Simplified Market Update: November 2019

Low Inventory, High Prices — Low inventory levels are leading to home prices continuing to rise across the board!

Watch for full details for up-to-date market statistics for Kitchener Waterloo  or read on below for specifics!

NUMBER OF SALES:  October 2019 compared to October 2018

  • 538 homes sold through MLS in KWAR total (up 4.1%)
  • 334 detached homes were sold (up 11.3%% )
  • 65 condominium apartments (up 1.6%)
  • 108 freehold townhouses (up down 6.1%).
  • 31 semi-detached homes (down 18.4%)

AVERAGE SALES PRICE SUMMARY: October 2019 compared to October

The average sale price of all residential properties sold increased 9.1% to $533,288.

Broken down by style of home:

  • Detached homes sold for an average price of $610,840(up 6.2%)
  • Apartment style condominiums increased by $333,895 up 6.7%).
  • Townhomes sold for an average of $434,035 (up 11.2%)
  • Semis sold for an average of $461,590 (up 14.3%)

HOMES LISTED ON MARKET: October 2019 compared to October 2018

Realtors listed 670 residential properties in K-W and area last month, a 12.4% decrease

  • 3.3% decrease compared to the previous ten-year average
  • The total number of homes available for sale in active status at the end of June totaled 691, a decrease of 36.5% and well below the previous ten-year average of 1,412 listings for the month
  • The average days it took to sell a home was 22 days vs. 25 days

MY TIPS:

  1. Use a local agent that understands strategy in a competitive market
  2. If you want to sell, take advantage of this continuing low inventory market.

I hope you enjoyed our Simplified Market Update! We strive to keep you informed and aim to elevate your life through smart real estate decisions.

Cindy-Lou Schmidt
Cindy-Lou Schmidt

Broker of Record, REALTOR®
 
 
Cindy-Lou loves serving her hometown, and you’ll likely find her in a coffee shop in a meeting if she’s not found at the Brokerage office, her mobile office (a.k.a. her car) or her home office. Growing up in a family of real estate investors, she has seen the power of real estate in elevating people’s lives and strives to bring value to her community. Cindy-Lou enjoys sharing knowledge as a digital creator through vlogging and blogging while drinking great coffee! During her downtime, she can be found cooking meals from scratch and sneaking snacks with her dog Betty.

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