A total of 413 residential properties sold last month compared to 376 in November 2014. Residential sales in November included 254 single detached homes (up 10.0% from last November), 22 semi-detached (down 31.2%), 33 townhomes (down 15.4%) and 99 condominium units (up 37.5%).
2015 is just about wrapping up 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 2016 we look forward to continued demand for housing in Waterloo Region.
Single detached homes in November sold for an average price of $412,581 an increase of 8.2% compared to last year. The average sale price for a condominium was $225,341, an increase of 7.3%, while townhomes and semis sold for an average of $313,015 (up 13.8%) and $257,955 (down 1.9%) respectively. The average sale price of all residential sales through the KWAR’s MLS® System increased 6.7% to $350,703 compared to November 2014.
Waterloo Region remains an affordable place to buy a home in comparison to our neighbours in the GTA, REATLORS® in this Region advocated passionately on behalf of homeowners to bring a stop to the proposed Municipal Land Transfer Tax (MLTT) in order to keep the dream of homeownership affordable for everyone in the Region. We were very pleased that the Minister of Municipal Affairs and Housing confirmed earlier this week that the government will not give municipalities the ability to charge a MLTT.
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