Home sales down in Septem­ber

The Woolwich Observer - - NEWS -

The Kitch­ener-Wa­ter­loo As­so­ci­a­tion of Real­tors sold 448 homes through its MLS sys­tem in Septem­ber, a de­crease of 4.7 per cent com­pared to Septem­ber of last year.

On a year-to-date ba­sis, 4,558 res­i­den­tial units have sold com­pared to 5,345 dur­ing the same pe­riod in 2017, a de­crease of 14.7 per cent, the as­so­ci­a­tion re­ported this week.

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). Sales also in­cluded 30 semi-de­tached homes (down 18.9 per cent) and 30 free­hold town­houses (down 18.9 per cent).

The av­er­age sale price of all res­i­den­tial prop­er­ties sold in Septem­ber in­creased 10 per cent to $492,398 com­pared to the same month a year ago. De­tached homes sold for an av­er­age price of $574,653 an in­crease of 11.4 per cent com­pared to Septem­ber of last year. Dur­ing this same pe­riod, the av­er­age sale price for an apart­ment style con­do­minium was $325,378 an in­crease of 24.1 per cent. Town­homes and semis sold for an av­er­age of $377,442 (up 4.7 per cent) and $386,670 (up 4.1 per cent) re­spec­tively.

The me­dian price of all res­i­den­tial prop­er­ties sold last month was up 10.5 per cent com­pared to Septem­ber of last year at $453,000, and the me­dian price of a de­tached home dur­ing the same pe­riod in­creased 8.8 per cent to $520,000. Real­tors listed 824 res­i­den­tial prop­er­ties in K-W and area in last month, a 10 per cent in­crease com­pared to Septem­ber of last year, and nine per cent above the his­tor­i­cal ten-year av­er­age of 755. The num­ber of ac­tive res­i­den­tial list­ings to­talled 1,005, 18.2 per cent higher than Septem­ber of last yearr.

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