June Home Sales in Kitchener - Waterloo Show Home Values Continue to Rise at a Steady Pace

Residential property sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) half way through the year are up 1.4 per cent compared the same time last year. Residential sales totaled 3,511, 2.2 per cent ahead of the previous 5-year average of residential sales year-to-date.

In the month of June 648 residential properties were sold compared to 607 in June of last year, representing a 6.8 per cent increase in sales volume.

“Residential sales in Kitchener-Waterloo continue to perform well” says Dietmar Sommerfeld President of KWAR. “We’re seeing a slow and steady upward trend in sales which is exactly what we like to see, stable and steady growth.”

June’s sales included 422 single detached homes (up 9.9 % from last year) 122 condominium units (down 7.6 %), 58 semi-detached (up 9.4 %) and 35 freehold townhouses (up 6.1 %). Year-to-date residential sales display a similar distribution with 2,367 single detached homes (up 3.6 %) 605 condominium units (down 9.4 %), 283 semi-detached (up 6.0 %) and 218 freehold townhouses (up 0.5%).

On a year-to-date basis, the average sale price of all residential sales increased 4.6 per cent to $327,569 compared to 2012. Single detached homes sold for an average price of $371,898 an increase of 4.2 per cent compared to last year. The average sale price for a condominium units sold in the first half of the year was $215,219, an increase of 2.7 per cent over 2012.

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