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There were a total of 570 home sales in Kitchener-Waterloo and Area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in July . This represents a 1.1% increase compared to sales in July of 2014 and 20.5% above the 5 year average for the month of July.
Strong sales activity helped to bring year-to-date total sales to 3,525, a 7.1% increase compared to the same time last year, and 5.4% above the 5-year average. This also stands as the highest year-to-date sales number since 2008.
Residential sales in July in KW and Area included 356 single detached homes (down 5.1%), 42 semi-detached (up 2.4%), 49 townhomes (up 36.1%) and 120 condominium units (up 8.1%).
"It’s been a strong summer so far for residential sales," says Mark Wolle, President of KWAR. "Buyers continue to express their confidence that homes in the Region are a solid investment."
Across KW and Area the average sale price of all residential sales through the KWAR’s MLS® System increased 2.1% to $344,523 compared with July 2014. Single detached homes sold for an average price of $400,129, an increase of 4.3% compared to last year. The average sale price for a condominium was $228,309 an increase of 2.8% compared to July 2014.