Million dollar residential sales continue to set new records in Kitchener Waterloo in 2010. Luxury home sales over 1 million dollars on the Kitchener-Waterloo Multiple Listing Service total 11 year-to-date. The average sale price of these homes is a lofty $1,502,545. The average days on the market for these sales has soared to 130 days or over 4 months versus 39 days for the broader market. Sellers of these homes have received, on average, 94% of their asking price. Of note, 10 were resale homes and 1 was new with 7 in Kitchener and 4 in Waterloo.
Pictured above is the most recent sale of a million dollar home. It's located in the exclusive Hidden Valley area of Kitchener and is described as a 5 year old, 5100 square foot California-style bungalow with 5 bedrooms and 8 bathrooms. The asking price was $1.59 million and the property taxes for 2010 were $17,727.
Curious where the million dollar homes are located? Five of these sales were in Kitchener's Hidden Valley and 2 were in Kiwanis Park. There was one sale in each of Waterloo's Westmount, Colonial Acres, Beechwood and Upper Beechwood areas.
Are you searching for a million dollar luxury home in Kitchener Waterloo? There are currently 24 active MLS listings over $1 million consisting of 13 resale homes, 1 built on spec and 10 to be built. Of note, supply is somewhat limited in Waterloo with 4 homes for sale while there are 20 in Kitchener. The average asking price is $1,596,599 and average square foootage is 4361 square feet. That equals an asking price of $366/sq. ft. Call or email for specifics on these properties.
If you are looking to take advantage of current market conditions to sell your million dollar luxury home, contact me at 519-505-4488 or jeff.gingerich@century21.ca. I'll be happy to show you the many benefits of our proven Century 21 Fine Homes and Estates marketing system.
Jeff Gingerich
Sales Representative
Century 21 Home Realty Inc. Brokerage
Office: 519-570-4663
Direct: 519-505-4488
http://JeffGingerich.com
"Delivering results in Kitchener-Waterloo since 1989."