KW Real Estate November stats

November’s home sales were on par with expectations and previous year’s activities, and the residential real estate market continues to demonstrate its stability in Waterloo Region.

Year-to-date, there have been 5,921 residential units sold. Home sales last month included 292 detached homes, 89 condominium units, 37 semis and 26 townhouses. Semis and town homes show an increase in unit sales.

The average price of all homes sold last month increased 6.6 percent to $299,755. Sales of detached homes contributed the most significant increase with a jump of 7 percent in November to $344,404, relative to one year ago. The next biggest increase came from the freehold Townhouse category which increased 6.1 percent to $257,142.

Contrary to some recent international headlines suggesting a slump in the so-called global housing market, the Waterloo Region housing market is on solid footing. As housing markets often differ from national or even international trends it is important for consumers to talk to a local REALTOR® to understand what’s really happening at the local level.

For more information about the trends in your neighbourhood, call me at (519) 577-8181 or email me at dpellerin@coldwellbankerpbr.com