Simplified Market Update – October 2018 – Sales Numbers Down, Prices Up

By Cindy-lou Schmidt

September saw the continuing impact of mortgage rules and housing regulation affect the market as affordability for first-time home buyers continues to be a challenge. Meanwhile, average home prices continue to rise and certain home styles are seeing big changes. Thinking that rising prices means it’s not a good time to invest? Think again!

The average sale price of all residential properties sold increased 10% to $492,398 compared to the same month a year ago, with condominiums and making a huge price gain of 24.1% ($325,378), followed by detached homes increasing by 11.4%, townhomes up 4.7% ($377,442), and semis up 4.1% ($386,670)

There is the continuing trend of fewer homes being sold, but prices continuing to climb reflect the decreased affordability but continuing interest in living in Waterloo Region.

Residential sales in September included 270 detached (down 6.3 per cent compared to September 2017), and 110 condominium units (up 7.8 per cent) which includes any property regardless of style (i.e. semis, townhomes, apartment, detached etc.). Sales also included 30 semi-detached homes (down 18.9 per cent) and 30 freehold townhouses (down
18.9 per cent).

Great investment opportunities and selling opportunities are arising for those who own condominiums and for those looking to benefit from the trend in rising residential lease rates.

Cindy-lou’s Simplified Market  Update


Official Full KWAR Media Release here


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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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