December 2012 real estate statistics for Kitchener Waterloo

Coming off two consecutive months of strong housing activity in October and November, fourth quarter home sales were practically on par with last year’s results. A total of 1,268 homes sold through the last 3 months of 2012, 6 transactions more than the same period in 2011.

 Dollar volume of all residential real estate sold last year increased 2.6 percent to $ 1,931,345,147 compared with 2011, reflecting the steady price gains realized in 2012.

 The average sale price of all homes sold in 2012 increased 3.3 percent to $311,006. Single detached homes sold for an average price of $353,888 in 2012, an increase of 3.2 percent. In the condominium market the average sale price in 2012 was $213,520, a 4 percent increase compared to the previous year.

 Residential sales activity remained fairly steady throughout 2012,” says Dietmar Sommerfeld, president of the KWAR. “In July the government put in place tighter mortgage lending rules, which is perhaps partly responsible for the slight easing of demand we saw, but overall the Kitchener-Waterloo housing market continues to show its stability.”

 Home sales in 2012 included 4,070 detached homes (down 1.2 percent from 2011), 1,200 condos (down 0.1 percent) 486 semis (down 2.4 percent), and 400 townhouses (up 7.8 percent).

 Yearly Total Sale Price and Residential Units Sold over the last 10 years:

 

 

Units Sold                   K-W Only Sales

All Area Sales

 

K-W Only

Sales

All Area

Sales

Average

Price

Median

Price

Average

Price

Median

Price

2003

4,325

5,272

$186,697

$172,750

$189,826

$173,500

2004

4,832

5,878

$202,981

$186,950

$206,611

$187,825

2005

4,970

6,099

$215,541

$198,000

$221,404

$200,000

2006

4,868

5,973

$231,958

$215,000

$237,222

$218,000

2007

5,504

6,762

$244,811

$227,000

$250,589

$230,000

2008

4,911

6,047

$261,973

$240,000

$267,261

$243,000

2009

4,913

6,347

$262,124

$244,000

$266,385

$245,000

2010

4,794

6,389

$284,195

$260,000

$289,294

$261,421

2011

4,592

6,253

$293,743

$270,000

$301,010

$272,500

2012

4,553

6,212

$303,260

$280,000

$311,006

$285,000

 

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