August 2009 Market Update
The Kitchener-Waterloo Real Estate Board has released August 2009 sales data. In K-W, there were 482 sales matching a record set in 2007. The average price declined from August 2008 by slightly more than $10 000 and the median price dipped to $237,200 versus $242,000 in August 2008. Condominium sales were up 67% over August 2008 as record interest rates improved affordability. The decline in prices can be attributed to fewer luxury homes selling and more condominiums ie) a different mix. Active MLS listings in K-W currently total 1086 of which 280 are brand new/to be built and 806 are resale homes. With less than 3 months of inventory, we currently have a seller's market. As always, feel free to call/email for detailed information specific to you and your neighbourhood. MailTo: Jeff.Gingerich@Century21.ca 519-505-4488 In my next post, I'll forecast what is to come in the late summer/fall market.
Posted by Jeff Gingerich
on September 3, 2009
Tags:
Jeff Gingerich K-W Seller's market Kitchener condominiums Kitchener market update Kitchener real estate Kitchener real estate market conditions Kitchener-Waterloo Real Estate Kitchener-Waterloo Real Estate Board Moving to Kitchener Moving to Waterloo Relocating to Kitchener Relocating to Waterloo Waterloo condominiums Waterloo market update Waterloo real estate Waterloo real estate market conditions Waterloo Region condominiums Waterloo Region real estate Waterloo Region real estate market conditions
|
