Home sales up in Oc­to­ber

The Woolwich Observer - - NEWS -

There were 514 homes sold through the Mul­ti­ple List­ing Sys­tem (MLS) of the Kitch­ener-Water­loo As­so­ci­a­tion of Real­tors (KWAR) in Oc­to­ber, an in­crease of 7.8 per cent com­pared to Oc­to­ber of last year.

On a year-to-date ba­sis, 5,070 res­i­den­tial units have sold com­pared to 5,822 dur­ing the same pe­riod in 2017, a de­crease of 12.9 per cent.

Res­i­den­tial sales in Oc­to­ber in­cluded 297 de­tached (up 4.6 per cent com­pared to Oc­to­ber 2017), and 128 con­do­minium units (up 19.6 per cent). Sales also in­cluded 36 semi-de­tached homes (down 18.2 per cent) and 47 free­hold town­houses (up 23.7 per cent).

The av­er­age sale price of all res­i­den­tial prop­er­ties sold in Oc­to­ber in­creased 7.7 per cent to $489,725 com­pared to the same month a year ago. De­tached homes sold for an av­er­age price of $576,731 an in­crease of 6.2 per cent com­pared to Oc­to­ber of last year. Dur­ing this same pe­riod, the av­er­age sale price for an apart­ment style con­do­minium was $310,215 an in­crease of 24.1 per cent. Town­homes and semis sold for an av­er­age of $387,602 (up 10.9 per cent) and $403,750 (up 13.8 per cent) re­spec­tively.

The me­dian price of all res­i­den­tial prop­er­ties sold last month was up 6.5 per cent com­pared to Oc­to­ber of last year at $444,500 and the me­dian price of a de­tached home dur­ing the same pe­riod in­creased 8.5 per cent to $525,350.

KWAR mem­bers listed 760 res­i­den­tial prop­er­ties in K-W and area last month, a 14 per cent in­crease com­pared to Oc­to­ber of last year, and 12.7 per cent above the his­tor­i­cal ten-year av­er­age of 674. The num­ber of ac­tive res­i­den­tial list­ings on the MLS sys­tem to the end of Oc­to­ber to­talled 1,014, 21 per cent higher than Oc­to­ber of last year but still 461 units fewer than the pre­vi­ous ten-year av­er­age of 1,475 list­ings for Oc­to­ber.

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