Home sales down again in August
A total of 483 residential sales occurred through the Multiple Listing System (MLS of the Kitchener-Waterloo Association of Realtors in August, 19.2 per cent below August 2016’s record breaking 598 units sold but still ahead of the previous 5-year August average of 473 sales, the association reported last week.
Residential sales last month brings a year-to-date total of 4,876 residential units, an increase of 3.7 per cent compared to 2016.
Residential sales in August included 286 detached homes (down 18.8 per cent), and 105 condominium units (down 30.9 per cent). Sales also included 50 semi-detached homes (up 25 per cent) and 32 freehold townhouses (down 34.7 per cent).
The average sales price of all residential sales increased 10.1 per cent to $441,992 compared to August 2016. Detached homes sold for an average price of $519,910 for an increase of 5.9 per cent, while the average sale price for an apartment style condominium was $294,787 for an increase of 26.5 per cent. Townhomes and semis sold for an average of $338,191 (up 13.4 per cent) and $351,233 (up 17.3 per cent) respectively.