STRONG HOME SALES IN JULY

KITCHENER-WATERLOO, ON (August 6, 2015) –– 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.

The KWAR cautions that average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Those requiring specific information on property values should contact a local REALTOR®.

Click here for the full release.