Kitchener Waterloo Home Sales Steady For February

With the cold weather still keeping its grip on us here in Kitchener Waterloo, the Residential Real Estate market is starting to  show signs of life. Even though  the volume of sales are down about 4% the prices are still rising steadily. Condos are leading the way for another month in a row up 6.3%.

Have a look at the entire Media release from the Kitchener waterloo real estate board and if you have any questions please don’t hesitate to give me  a call.

HOMES SALES STEADY IN FEBRUARY

KITCHENER-WATERLOO, ON (March 5, 2014) –– Residential sales through the Multiple Listing System (MLS®) of the
Kitchener-Waterloo Association of REALTORS® (KWAR) were down 4.0 percent in February compared to the
same month last year and up 34 percent compared to January’s results which were hampered by extreme
cold and snow.
A total of 431 residential properties were sold compared to 449 the same time last year. Residential sales in
February included 274 single detached homes (down 8.7% from last February), 33 semi-detached (down
13.2%), 28 townhomes (down 3.4%) and 93 condominium units (up 16.3%).
“February sales showed a healthy increase compared to January,” stated Lynn Bebenek, President of the
KWAR. “Low interest rates and a diverse and vibrant regional economy will continue to support a stable market
for the Kitchener-Waterloo area.”
Single detached homes sold for an average price of $387,288 an increase of 5.1 percent compared to last
year. The average sale price for a condominium was $233,657 an increase of 6.8 percent while townhomes and
semis sold for an average of $281,636 (down 0.7%) and $246,171 (down 3.0%) respectively. The average sale
price of all residential sales through the KWAR’s MLS® System increased 3.0 percent to $335,217 compared to
February 2013.
“Following up on what has been one of the coldest winters on record I expect we will see home buyers and
sellers out in full force come the spring time,” said Bebenek.

March 5, 2014 | Categories: Buyers, Local Kitchener Waterloo, Sellers, Uncategorized | Tags: assessment, Bank of Canada, condo buying, February market update, first time home buyer, full time realtor, home buying, home value, inventory levels, Kitchener waterloo, kwrealestatelife, loft, lofts in kitchener, market update, Mortgage News, real estate, real estate investing, realty, Remax, twin city, waterloo ontario, waterloo region school board | Leave a comment