Residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down 4.0 percent in February compared to the same month last year and up 34 percent compared to January’s results which were hampered by extreme cold and snow.
A total of 431 residential properties were sold compared to 449 the same time last year. Residential sales in February included 274 single detached homes (down 8.7% from last February), 33 semi-detached (down 13.2%), 28 townhomes (down 3.4%) and 93 condominium units (up 16.3%).
February sales showed a healthy increase compared to January. Low interest rates and a diverse and vibrant regional economy will continue to support a stable market for the Kitchener-Waterloo area."
Single detached homes sold for an average price of $387,288 an increase of 5.1 percent compared to last year. The average sale price for a condominium was $233,657 an increase of 6.8 percent while townhomes and semis sold for an average of $281,636 (down 0.7%) and $246,171 (down 3.0%) respectively. The average sale price of all residential sales through the KWAR’s MLS® System increased 3.0 percent to $335,217 compared to February 2013.
Following up on what has been one of the coldest winters on record I expect we will see home buyers and sellers out in full force come the spring time.
Contact me today to chat about the market or for a complimentary Home Value Report!
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