CONDO SALES REMAIN STRONG IN KITCHENER WATERLOO- Kitchener homes for sale

CONDO SALES REMAIN STRONG IN K-W

KITCHENER-WATERLOO (OCT 5th, 2011) – Residential sales to the end of the 3rd quarter of 2011 are behind last year by 2.9%. A total of 4,975 homes have sold to date this year through the Multiple Listing Service (MLS*) of the Kitchener – Waterloo Association of Realtors, compared with 5,126 during the same period last year.

Overall residential sales brought the dollar volume of $1,493,498,796, an increase of 0.8 % compared to a year ago.

While sales have been slightly behind last year’s results for most dwelling types, the condo market has been the notable exception. There have been 953 condo sales year-to-date, a 2.8 % increase compared to a year ago.

Stronger demand for condo’s has helped push up the average price up to 5% on a year to date basis. The average  price of a detached home has increased 3.7% to $341,222.

Home sales were down last month by 4.7% over last year at this time.  Interest rates continue to be low and its a great time for buyers who are entering the market for the first time, or those wishing to transition into a different kind of home, whether its trading up or downsizing.