STEADY HOME SALES IN NOVEMBER
KITCHENER-WATERLOO - There were a total of 450 residential sales through the Multiple
Listing Service of the Kitchener/Waterloo Association of REALTORS 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.
“November’s home sales were on par with expectations and previous year’s activities, and we are pleased to report that
the residential real estate market continues to demonstrate its stability in Waterloo Region,” said Sara Hill, President of
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.
“The Waterloo Region housing market is on solid footing,” says President Hill, “contrary to some recent international
headlines suggesting a slump in the so‐called global housing market. This simply reinforces the importance for
consumers to talk to a local REALTOR® to understand what’s really happening at the local level, as housing markets
often differ from national or even international trends.”