Sales down, prices up in 2018

The Woolwich Observer - - NEWS -

There were 5,823 res­i­den­tial homes sold through the Mul­ti­ple List­ing Sys­tem (MLS) of the Kitch­en­erWater­loo As­so­ci­a­tion of Re­al­tors in 2018, a de­cline of 11.1 per cent com­pared to 2017, the or­ga­ni­za­tion re­ported this week.

With 263 trans­ac­tions tak­ing place last month, De­cem­ber’s home sales were down 13.2 per cent from the same time in 2017 and slightly be­hind the pre­vi­ous 10-year av­er­age of 268 sales for the month of De­cem­ber.

To­tal res­i­den­tial sales in 2018 in­cluded 3,355 de­tached (down 16.2 per cent), and 1,553 con­do­minium units (up 6.4 per cent). Sales also in­cluded 417 semi-de­tached homes (down 23.6 per cent) and 431 free­hold town­houses (down 7.7 per cent).

The av­er­age sale price of all res­i­den­tial prop­er­ties sold in 2018 in­creased 3.4 per cent to $483,537 com­pared to 2017. De­tached homes sold for an av­er­age price of $575,412, an in­crease of 4.8 per cent com­pared to 2017. Dur­ing this same pe­riod, the av­er­age sale price for an apart­ment style con­do­minium was $304,676 for an in­crease of 12 per cent. Town­homes and semis sold for an av­er­age of $373,307 (up 5.5 per cent) and $396,391 (up 4.7 per cent) re­spec­tively.

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