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Friday, February 5, 2016

Home sales up considerably in January, 2016 compared to last year - and sale prices continue to rise...

With this level of continued activity, now is a great time to sell with inventory levels low and demand still high.  Contact me today to find out what your home is worth!

(February 5, 2016) –– Homes sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in January were up 29.8% compared to January of last year.

A total of 309 residential properties were sold compared to 238 the same time last year in Kitchener-Waterloo and area.  Residential sales in January included 205 single detached homes (up 33.1% from last January), 14 semi-detached (down 17.6%), 21 townhomes (up 31.3%) and 67 condominium units (up 31.0%). 

“We came off a strong 2015, and the pace of home sales hasn’t slowed down in January,” stated Charlotte Zawada, President of the KWAR. “The last few winters we experienced sluggish sales, but we’ve been fortunate and haven’t had as much snow or ice to keep people from getting out there and looking for a new home.”

Single detached homes sold for an average price of $409,101 an increase of 10.5% compared to last year. The average sale price for a condominium was $214,464 a decrease of 7.6%, while townhomes and semis sold for an average of $311,509 (up 12.4%) and $283,966 (up 10.0%) respectively. The average sale price of all residential sales through the KWAR’s MLS® System increased 8.2% to $353,514 compared to January 2015. 

“Buyers and sellers will be all the more eager once spring hits, and we are expecting a strong spring market,” said Zawada. “With interest rates holding steady we should continue to draw people looking to live and invest in Waterloo Region.”

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