Sales down, prices up in 2018
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.