Home sales down, prices up

The Woolwich Observer - - NEWS -

Last month a to­tal of 481 res­i­den­tial prop­er­ties sold in the Kitch­ener-Water­loo area through the Mul­ti­ple List­ing Sys­tem of the Kitch­ener-Water­loo As­so­ci­a­tion of Real­tors. Home sales in Oc­to­ber were down 16.6 per cent com­pared to the same month last year, but still above the pre­vi­ous five-year Oc­to­ber av­er­age of 464 sales.

On a year-to-date ba­sis 5,842 res­i­den­tial units have sold com­pared to 5,816 dur­ing the same pe­riod in 2016, an in­crease of 0.4 per cent.

Oc­to­ber’s sales in­cluded 289 de­tached homes (down 20.2 per cent), and 107 con­do­minium units (down 17.7 per cent) which in­cludes any prop­erty re­gard­less of style (i.e. semis, town­homes, apart­ment, de­tached etc.). Sales also in­cluded 44 semi-de­tached homes (down 7.3 per cent) and 38 free­hold town­houses (down 2.6 per cent).

The av­er­age price of all res­i­den­tial prop­er­ties sold last month in­creased 11.4 per cent to $454,398 com­pared to Oc­to­ber 2016. De­tached homes sold for an av­er­age price of $541,368, an in­crease of 13.1 per cent com­pared to Oc­to­ber 2016. Dur­ing this same pe­riod, the av­er­age sale price for an apart­ment style con­do­minium was $249,993 for an in­crease of 11 per cent. Town­homes and semis sold for an av­er­age of $349,316 (up 13.7 per cent) and $354,668 (up 8 per cent) re­spec­tively.

The me­dian price of all res­i­den­tial prop­er­ties sold in Oc­to­ber in­creased 11.7 per cent to $419,000, and the me­dian price of a de­tached home dur­ing the same pe­riod in­creased 10.2 per cent to $484,000.

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