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

 


Thinking about selling?

Book a personal evaluation of your home so you can make an informed decision to net the most money when you list one of your biggest assets for sale. Contact me . The condition of your home, location, and other key factors matter.

Kindly,

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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