Kitchener-Waterloo Real Estate Market Report

JANUARY 2019 KW REAL ESTATE UPDATE

In January there were 307 Residential homes sold in KW and the average days on market was 26: 5 days fewer than last year at the same time. This start to the year outpaced January 2018 by 14.6%. It seems to be the result of pent up demand given the slow down in the last quarter of last year.

Here is a break-down of what sold:

Single Detached homes                 189        Up 26%

Condominiums                                 80           Up 19.4%

Semi-detached homes                   20           Down 28.6%

Freehold townhouses                    17           Down 19%

Our January 2019 average Residential Real Estate price sat at $484,076: UP 5.3%

Broken down by category:

Single Detached homes average sale price                           $564,718             UP 1.9%

Condominium average sale price                                            $303,379             UP 22.1%

Townhome average sale price                                                  $368,227             UP 0.7%

Semi-detached average sale price                                           $407,852             UP 4.6%

The average home price seems to be holding steady. The Median price of homes sold has increased to $455,000 vs last January: up 5.3%. It will be interesting to watch the median and the average home price over the next couple of months. February – April numbers represent the busiest time of year for Real Estate in KW.

Happy house hunting!