Kitchener Mortgage Brokers – September Market Update

Home sales in Kitchener remained steady throughout August as we began heading into fall.

According to the most recent report released by the Kitchener-Waterloo Association of Realtors, there were a total of 483 residential properties sold in August this year. That brings this year’s sales volume in at 19.2 percent below last year’s total of 598 sales in the residential sector for the month of August. This year’s sales are still up, however, when compared to the monthly average for August of 2011-2015.

There have now been almost 5,000 homes sold this year. The August numbers added to the total for the year, bringing it up to 4,876 units, up 3.7 percent from this point last year.

The breakdown of residential sales by category for August of 2017 is as follows:

  • Detached Homes – 286
  • Condominium Units – 105
  • Semi-Detached Homes – 50
  • Freehold Townhomes – 32

The average sales price for these homes did increase slightly over the last year, rising to $441,992 across all residential properties in August of 2017.

The breakdown of the average sales price for residential properties by category for August of 2017 is as follows:

  • Detached Homes – $519,910
  • Condominium – $294,787
  • Semi-Detached – $351,233
  • Freehold Townhomes – $338,191

Current inventory levels have remained consistent throughout the last few months, even compared to last year, as we continue to see just below a two-month’s supply of inventory on the market. In August of 2017, there 589 residential properties listed for sale in the Kitchener-Waterloo area, bringing the total number of active listings up to 800.

If you are interested in purchasing a home in the local Kitchener-Waterloo area, you will need the best Kitchener mortgage brokers on your side!

At Altrua Financial, our Kitchener mortgage brokers are dedicated to helping our clients achieve their dreams of affordable homeownership. We guarantee that we will work as hard as possible to get you the lowest rate on your home financing.

Give us a call today for more information or to set up a free mortgage consultation! We look forward to working with you!

  If youd like more information, visit: https://altrua.ca

Source: http://creastats.crea.ca/kitc/

 

By | 2019-01-04T22:31:15+00:00 October 6th, 2017|Mortgage Market Updates|0 Comments

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