Record Sales in Million Dollar Luxury Homes in Kitchener Waterloo

Million dollar residential sales have set a record in Kitchener Waterloo in 2010.  Luxury home sales over $1 million dollars on the Kitchener-Waterloo Multiple Listing Service have surged to 9 year-to-date.  The average price of these sales is $1,481,444 and the average days on market is 100 days versus a brisk 37 days for the broader market.  Sellers of these homes have received, on average, 90% of their asking price.  Of note, 1 was new and 8 were resale homes with 5 in Waterloo and 4 in Kitchener.  For perspective, million dollar residential sales were a rarity until 2006.  In fact, between 2002 and 2004, there was not a single home sold on MLS in K-W over $1 million.  The previous high for these sales was 7 in 2008.   

Pictured above is the most recent sale of a million dollar property.  This 2 year old home is located in the exclusive Hidden Valley area of Kitchener and provides a million dollar view overlooking the Grand River valley.  It's set on a .74 acre lot and features 4000 sq ft plus a finished walkout basement.  The list price was $1,349,000.

For those searching for a million dollar luxury home in Kitchener or Waterloo, there remains a good selection.  There are currently 25 properties for sale of which 12 are brand new or to be built and 13 are resale.  The average asking price is $1,564,848 and average square footage is 4399.  That equals an asking price of $343/sq ft.

If selling a million dollar luxury home is on your to-do list, feel free to call or email 519-505-4488 jeff.gingerich@century21.ca  I'll be happy to review our 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 since 1989"

 

 

 

Jeff Gingerich

Jeff Gingerich

Sales Representative
CENTURY 21 Home Realty Inc., Brokerage*
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