Home sales slow in Septem­ber

The Woolwich Observer - - NEWS -

A to­tal of 470 res­i­den­tial prop­er­ties changed hands in Kitch­ener-Water­loo and area through the Mul­ti­ple List­ing Sys­tem of the Kitch­ener-Water­loo As­so­ci­a­tion of Real­tors in Septem­ber.

This was a de­crease of 12.8 per cent com­pared to the record num­ber of sales in Septem­ber of 2016, but still ahead of the pre­vi­ous five-year Septem­ber av­er­age of 437 sales. On a year-to-date ba­sis 5,357 res­i­den­tial units have sold com­pared to 5,239 dur­ing the same pe­riod in 2016, an in­crease of 2.3 per cent.

Septem­ber’s sales in­cluded 285 de­tached homes (down 14.2 per cent), and 105 con­do­minium units (down 19.2 per cent) which in­cludes any prop­erty re­gard­less of style (i.e. semis, town­homes, apart­ment, de­tached etc.). Sales also in­cluded 38 semi-de­tached homes (up 22.6 per cent) and 37 free­hold town­houses (up 12.1 per cent).

The av­er­age price of all res­i­den­tial prop­er­ties sold last month in­creased 12 per cent to $455,079 com­pared to Septem­ber 2016. The av­er­age sale price for an apart­ment-style con­do­minium was $261,337 for an in­crease of six per cent. Town­homes and semis sold for an av­er­age of $359,448 (up 20.9 per cent) and $372,226 (up 19 per cent) re­spec­tively. De­tached homes sold for an av­er­age price of $513,873 in Septem­ber for an in­crease of 10 per cent com­pared to a year ago.

Year-over-year price ap­pre­ci­a­tion peaked in April of this year when the av­er­age price of a de­tached home in­creased 40 per cent to $594,108. To­day, on a year-to-date ba­sis, the price of a de­tached home has av­er­aged $553,029, an in­crease of 24.7 per­cent com­pared to 2016, the as­so­ci­a­tion re­ports.

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