Home sales up, prices down

The Woolwich Observer - - NEWS -

Sales through the Mul­ti­ple Listing Sys­tem (MLS) of the Kitch­en­erWater­loo As­so­ci­a­tion of Real­tors (KWAR) were up 12.5 per cent in May com­pared to the pre­vi­ous month and down 15.3 per cent com­pared to last year’s record-set­ting May.

A to­tal of 692 res­i­den­tial prop­er­ties sold in May com­pared to 817 the same time last year.

Res­i­den­tial sales in May in­cluded 414 de­tached (down 15.7 per cent com­pared to May 2017), and 169 con­do­minium units (down 7.1 per cent). Sales also in­cluded 46 semi-de­tached homes (down 28.1 per cent) and 53 free­hold townhouses (down 24.3 per cent).

The av­er­age sale price of all res­i­den­tial prop­er­ties sold in May de­creased 2.4 per cent to $482,873 com­pared to the same month a year ago. De­tached homes sold for an av­er­age price of $572,206 a de­crease of 3.4 per cent com­pared to May of last year. Dur­ing this same pe­riod, the av­er­age sale price for an apart­ment-style con­do­minium was $301,052, an in­crease of 2.7 per cent. Town­homes and semis sold for an av­er­age of $365,715 (up 1.3 per cent) and $393,616 (up 2 per cent) re­spec­tively.

The me­dian price of all res­i­den­tial prop­er­ties sold last month was down 0.9 per cent com­pared to May of last year at $445,000, and the me­dian price of a de­tached home dur­ing the same pe­riod de­creased 2.8 per cent to $520,000.

KWAR listed 1,068 res­i­den­tial prop­er­ties in K-W and area last month, down 15.8 per cent com­pared to May of 2017, but up 14.4 per cent com­pared to the his­tor­i­cal (2007-2016) av­er­age. The num­ber of ac­tive res­i­den­tial list­ings on the MLS sys­tem to the end of May to­talled 1,062.

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