Home Sale Values Rise Across the Board in K-W - Homeowners Can be Confident About Their Home Values

Homes sales in Kitchener-Waterloo through the Multiple Listing System (MLS®) ) in November were on par with sales compared to November of last year. Residential sales have totalled 6,251 on a yearly basis which is a 2.7 percent increase over last year, and also a year-to-date record for total units sold since 2007.

A total of 469 residential properties sold last month, the same number of transactions that occurred in November 2013. Residential sales in November included 298 single detached homes (down 1.3% from last November), 40 semi-detached (down 2.4%), 49 townhomes (up 58.1%) and 80 condominium units (down 13%).

2014 is coming to end and we’ve had an incredible year for home sales in the Region.  With the CMHC forecasting steady mortgage rates and stronger employment in the Region into 2015, we look forward to continued demand for housing in Waterloo Region.  This is a good thing for home owners who should continue to see a steady appreciation of their home values.
Single detached homes in November sold for an average price of $385,533 an increase of 3.7 percent compared to last year. The average sale price for a condominium was $206,598 a decrease of 5.0 percent while townhomes and semis sold for an average of $277,442 (up 3.5%) and $255,896 (up 6.3%) respectively. The average sale price of all residential sales through the K-W MLS® System increased 3.0 percent to $331,964 compared to November 2013.

Waterloo Region is a highly desirable place to live and work.  With more than 1,000 technology companies, a healthy manufacturing sector, growing colleges and universities, excitement surrounding the LRT (ION), the Region continues, and will continue to be, a great place to invest in a home.

Please contact me anytime if you have any questions about the market or if you'd like a free Home Value Report.