Total residential sales volume in Kitchener Waterloo tops 3 billion
Here are the year end numbers
There were 6,549 homes sold in Kitchener-Waterloo and area in 2017
The year finished strong with 301 home sales in December, 13 percent above the previous 5 year average.
Sales in 2017 consisted of
- 4,005 detached homes (down 4.2 percent)
- 1,461 condo units (down 2.9 percent)
- 545 semi-detached houses (up 27.6 percent) and
- 467 freehold townhouses (up 10.9 percent).
Supply was low and demand was high. This lead to rising prices and low “days on market”. The average days it took to market a home in 2017 was 19 days, as compared to the ten year average of 43 days
2017 marked the very first time sales have actually exceeded the 3 billion dollars milestone
Dollar quantity of all real estate sold increased 19.5 each cent to just over three billion ($ 3,061,739,723).
- The average list price of all properties sold in 2017 increased 20.7 percent to $467,513 compared to 2016.
- Detached houses sold for an average price of $549,046, an increase of 21.5 percent contrasted to 2016.
- During this same period, the typical price for an condominium apartment was $271,940 for a rise of 18.3 percent.
- Townhouses and semis sold for approximately $353,692 (up 23.6 percent) and $378,275 (up 25.9 per cent) respectively.
The median price of all properties sold last year increased 21.1 percent to $429,900.
The median price of a detached home rose 22 percent to $495,000.
602 properties were leased through our local MLD in 2017, a 40% increase as compared to 2016.