553 Home Sales in Kitchener-Waterloo Last Month
June 15 2015 Posted by Tracy Bennett
There were 553 home sales in Kitchener-Waterloo last month though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR).
This represents an 8.4 per cent increase compared to May of 2014, and 9.6 per cent above the five year average for the month May.
With a total of 2,926 home sales occurring through the KWARs MLS System®, year-to-date sales are 3.3 per cent above the five year average.
Although sales numbers in Kitchener-Waterloo are higher in comparison to May of last year, they are on par with the month of April, at 1.7 per cent above last month’s residential sales numbers, a difference of nine home sales. “It’s been a very busy but typical spring market” says Mark Wolle, President of KWAR. “Low mortgage interest rates and a diverse local economy continue to support home buying in Waterloo region.”
Much like the month of April, sales activity in the $300,000 – $349,999 posted a healthy increase in the month of May with 126 homes sold in that range, a 24.8 per cent increase from the same time last year. Sales in the $400,000 – $499,999 also increased with 81 sold in this price range, a 28.6 per cent increase. Sales in KW included 355 single detached homes (up 4.7 per cent), 113 condominium units (up 28.4 per cent), 44 semi-detached (up 2.3 per cent) and 40 freehold townhouses (up 8.1 per cent).
The average sale price of all residential sales through the KWAR’s MLS® System increased 0.7 per cent to $347,541 compared to the same time last year. Within the cities of Kitchener-Waterloo residential sale prices increased 1.6 percent to $343,750 compared to May 2014. Single detached homes sold for an average price of $390,704 an increase of 1.1 per cent compared to last year. Condominium market prices were up 7.1 per cent, with the average condo unit selling for $237,649.