Residential sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down up 43.9 percent compared to January home sales despite the Region's "Deep Freeze" as temperatures plummeted.
A total of 423 residential properties were sold compared to 436 the same time last year. Residential sales in February included 250 single detached homes , 44 semi-detached, 31 townhomes and 97 condominium units.
Sales this February showed a healthy increase compared to January and with the recent announcement that the Bank of Canada will be holding interest rates at 0.75%, we should continue to see a steady, stable market for Kitchener-Waterloo.
Single detached homes sold for an average price of $395,285 an increase of 1.2 percent compared to last year.
The average sale price for a condominium was $230,568 a decrease of 0.4 percent while townhomes and semis sold for an average of $301,774 (up 6.8%) and $254,070 (up 3.6%) respectively.
The average sale price of all residential sales through the KWAR’s MLS® System decreased 0.4 percent to $335,740 compared to February 2014 with 42.6 percent of home sales in February occurring in the $250,000-$349,999 range.
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