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 / 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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