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.