Kitchener-Waterloo has seen a 24.4 per cent year-over-year increase in home sales to record its best October ever.

There were 577 homes sold in the area last month according to MLS data from the Kitchener-Waterloo Association of Realtors and the average sales price rose 12.7 per cent to $408,067 with detached homes selling for 14.3 per cent more than in October 2015 at $478,685.

Inventory remained tight at just 729 active listings, down 11 per cent from September and down 53.9 per cent from October 2015.

“A strong appetite for homeownership in Waterloo region combined with slimmer inventory levels means it’s still a sellers’ market,” commented  Charlotte Zawada, president of the KWAR.
 

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