RECORD NUMBER OF HOME SALES RECORDED IN FIRST HALF OF YEAR for 2016

 KITCHENER-WATERLOO, ON (July 5, 2016) –– Residential property sales through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) had yet another record month with 740 properties sold in Kitchener-Waterloo and area in the month of June. This represents a 13.1% increase compared to the June of 2015, and ranks as the most active June on record.



During the first half of 2016, there were 3,519 home sales, 18.0% above last year’s total for the same period and 22.8% above the 5-year year-to-date average.

"This is the highest number of home sales we have ever recorded in the first half of the year" said Charlotte Zawada, President of the KWAR.

On a monthly basis, home sales were 29.7% above the 5-year average for the month of June. As sales continue their upward trend, active residential listings continue to remain depressed in comparison to the same time last year. Currently, the number of active residential listings on the KWAR’s MLS® System to the end of June sat at 1,199, which is 33.9% lower compared to same period last year. This translates to 51.4% fewer available listings on the market today than the same time last year.

June’s sales included 485 single detached homes (up 13.6%) and 145 condominium type units (up 2.1%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 46 Semi-detached homes (up 9.5%) and 54 freehold townhouses (up 42.1%). The average sale price of all residential sales in June increased 11.2% to $390,144 compared to June 2015.

"With fewer listings on the market combined with an increased interest in people wanting to live in the Region, we’re seeing upward pressure on home prices," says Zawada. Single detached style homes sold for an average price of $451,289 an increase of 10.7% compared to last year. The average sale price for an apartment style condominium was $232,999, an increase of 8.0%. Townhomes and semis sold for an average of $277,672 (up 14.5%) and $296,572 (up 10.6%) respectively.

Residential Sale Price and Total Units Sold Year-To-Date over the last 10 years: Units Sold				K-W Only Sales				All Area Sales
K-W Only Sales		All Area Sales		Average Price		Median Price		Average Price		Median Price
2007	3,113		3,428		$242,690		$225,000		$248,911		$228,000
2008	2,796		3,127		$261,326		$240,000		$267,490		$244,000
2009	2,468		2,755		$259,244		$243,000		$263,552		$245,000
2010	2,772		3,121		$286,518		$260,000		$292,678		$264,500
2011	2,559		2,886		$298,304		$270,000		$304,393		$275,000
2012	2,571		2,882		$306,300		$282,500		$313,991		$287,500
2013	2,522		2,832		$320,937		$293,750		$328,215		$296,625
2014	2,427		2,741		$330,695		$302,000		$338,699		$307,000
2015	2,649		2,982		$340,546		$315,000		$347,974		$319,000
2016	3,162		3,519		$367,218		$340,510		$373,618		$345,500