The article below from the K-W Record gives all the numbers.
WATERLOO REGION — For George Patton, June is usually weddings and barbecue season.
With those kinds of distractions, the last thing many people have on their minds is buying or selling a house.
So the president of the Kitchener-Waterloo Association of Realtors was pleasantly surprised to see a five per cent increase in real estate sales last month compared to a year ago.
It was the second straight month of increases after a slow start to the year.
A total of 670 residential properties changed hands in June, up from 638 in June of 2010 in the area served by the association, which includes Kitchener, Waterloo and the townships of Woolwich, Wilmot and Wellesley.
Sales were also up in Cambridge where 268 properties found new owners in June, a 5.5 per cent increase over a year ago.
“The first four months of the year got off to a sluggish and somewhat damp start,” Patton said Wednesday. “But now we are seeing the second month of a delayed spring market shifting into full gear.”
While June sales rose, year-to-date sales for the K-W association are 5.4 per cent lower than 2010. A total of 3,443 properties have changed hands, down from 3,638 for the first six months of last year.
But last year’s totals were “exceptional” because people were rushing to buy or sell before higher interest rates and the HST kicked in, Patton said.
Year-to-date sales are also in line with the five-year average, the association said.
With no significant increases in interest rates on the horizon, he’s optimistic for the rest of the year.
The average sale price in the Kitchener area rose 3.6 per cent to $302,323 from a year ago. In 2002 that same property fetched $176,033.
Single detached homes sold for an average of $344,509, an increase of four per cent.
For the year so far, the only category to record an increase in sales was condominiums, which rose 4.5 per cent to 653 units. Sales of detached homes fell 5.4 per cent to 2,256 units, semi-detached dipped three per cent to 292 units and townhouses fell 28.7 per cent to 211 units.
The growth in condo sales is reflected in the number of units being built around the region, said Patton. “Obviously it’s a lifestyle that many people are choosing.”
The dollar volume of sales for the six months fell 1.9 per cent to just over $1 billion.
In Cambridge, average prices rose 3.9 per cent to $287,549.
The busiest category was homes in the $250,000 to $349,999 range where 113 properties changed hands.
“Demand came in stronger than expected in June,” Val Brooks, president of the Cambridge Real Estate Board, said Wednesday in a news release.
For the first six months of 2011, 1,563 properties were sold in the Cambridge area, down 0.7 per cent from last year’s first-half total of 1,574 units.
With those kinds of distractions, the last thing many people have on their minds is buying or selling a house.
So the president of the Kitchener-Waterloo Association of Realtors was pleasantly surprised to see a five per cent increase in real estate sales last month compared to a year ago.
It was the second straight month of increases after a slow start to the year.
A total of 670 residential properties changed hands in June, up from 638 in June of 2010 in the area served by the association, which includes Kitchener, Waterloo and the townships of Woolwich, Wilmot and Wellesley.
Sales were also up in Cambridge where 268 properties found new owners in June, a 5.5 per cent increase over a year ago.
“The first four months of the year got off to a sluggish and somewhat damp start,” Patton said Wednesday. “But now we are seeing the second month of a delayed spring market shifting into full gear.”
While June sales rose, year-to-date sales for the K-W association are 5.4 per cent lower than 2010. A total of 3,443 properties have changed hands, down from 3,638 for the first six months of last year.
But last year’s totals were “exceptional” because people were rushing to buy or sell before higher interest rates and the HST kicked in, Patton said.
Year-to-date sales are also in line with the five-year average, the association said.
With no significant increases in interest rates on the horizon, he’s optimistic for the rest of the year.
The average sale price in the Kitchener area rose 3.6 per cent to $302,323 from a year ago. In 2002 that same property fetched $176,033.
Single detached homes sold for an average of $344,509, an increase of four per cent.
For the year so far, the only category to record an increase in sales was condominiums, which rose 4.5 per cent to 653 units. Sales of detached homes fell 5.4 per cent to 2,256 units, semi-detached dipped three per cent to 292 units and townhouses fell 28.7 per cent to 211 units.
The growth in condo sales is reflected in the number of units being built around the region, said Patton. “Obviously it’s a lifestyle that many people are choosing.”
The dollar volume of sales for the six months fell 1.9 per cent to just over $1 billion.
In Cambridge, average prices rose 3.9 per cent to $287,549.
The busiest category was homes in the $250,000 to $349,999 range where 113 properties changed hands.
“Demand came in stronger than expected in June,” Val Brooks, president of the Cambridge Real Estate Board, said Wednesday in a news release.
For the first six months of 2011, 1,563 properties were sold in the Cambridge area, down 0.7 per cent from last year’s first-half total of 1,574 units.
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