June 2019 Real Estate Roundup – Kitchener Waterloo
Well, the first half of the year is finally wrapped up, and if we look at the real estate market scenario in Kitchener/Waterloo, it is still showing some strength. We must say that the year 2019 started with strong sales volume and it was a peak season for properties that were priced below $750,000. However, the second quarter gave more strength to the high-end market.
In the month of June, almost 658 residential properties were sold via multiple listing system, and with this, the sales volume increased by 8.8% as compared to June 2018. The average home price in the same month stood somewhere around $533,619. However, these stats appear slightly lower as compared to the growth shown by the Kitchener/Waterloo real estate market in May; we are still maintaining all-time high when compared to past ten years.
The home sales for the month of June included only 404 detached apartments and the sale for this category was up by 8.9% whereas it went down by 28.6% for the condominium apartments as they were able to close deals for 50 units only. The sales report of June month also included townhouses and the sales rate was incredibly up by 27.2%; they managed to sell 159 units in this category. Then comes semi-detached homes and sales for them were also observed to be on the higher side with the estimated rise of 15.4% as 45 number of units were sold.
KWAR president, Brian Santos recently said that homes sales are gaining considerable momentum at Kitchener/Waterloo from last month. The sales are growing high on year by year basis, and they have increased slightly above the mid-year mark of year 2018.
Real estate professionals have sold 3154 homes in all at Kitchener/Waterloo real estate market during the first half of the year 2019, and this value shows 1.4% rise when compared to states of year 2018.
All residential properties in the area ranked high with the average sale price of $533,619 in the month of June, and it shows the estimated rise of 8.9% as compared to 2018. The deals for detached homes were closed at $618,186 average price, and it is observed to be 7.9% high as compared to June 2018. During this period, the apartment-style condominiums were sold at a price of $332,716 that is high by 4.4%. Other than this, deals for semis and townhomes were closed at $430,427 and $411,126; the range is high by 9.9% and 10.7% respectively.
Real Estate Agent reveals that the median price for Waterloo/Kitchener residential properties was increased to $495,500 with the rise of 9.9% whereas detached home in the same period had median price of $581,500 and it is observed to be high by 11.7%.
Realtor in Kitchener listed almost 888 residential properties in the area, and this count is 4.3% high as compared to June 2018. Moreover, this count is high by 0.5% when compared to the previous ten years average of June month.