KITCHENER-WATERLOO, ON (December 5, 2011) –– There were a total of 450 residential sales through the Multiple Listing Service (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in November, with a total dollar volume of $134,889,762, a decrease of 1.7 percent relative to results in November 2010.
Sales of residential properties to the end of November were down 7.8 percent compared to results one year ago, but on par with the previous 5-year average for units sold in the month of November. Year-to-date, there have been 5,921 residential units sold, a decline of 2.3 percent compared to the same period last year.
Home sales last month included 292 detached homes (down 3.3 percent from November 2010), 89 condominium units (down 28.8 percent from November 2010), 37 semis (up 2.8 percent from November 2010), and 26 townhouses (up 18.2 percent from November 2010).
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. Decreased demand for condominium sales in November was reflected by the 0.3 percent decrease in the average price to $207,697 from November 2010.
Source: KWAR
