Southern Ontario markets shows first sales decline of 2017

There was a decline in home sales in Kitchener-Waterloo in June, but remained more than 9 per cent above 2016 year-to-date.

There were 716 sales through the MLS of Kitchener-Waterloo Association of Realtors and buyers were given more choice as new listings increased by 28.7 per cent compared to a year earlier with 1,083 homes available. 

“Home sales in June were very strong, and we’re on track to have another record breaking year of residential sales,” says James Craig, President of KWAR. “June is the fourth consecutive month home sales in the Kitchener-Waterloo area have exceeded 700 units. Historically sales in KW and area have only ever surpassed the 700 unit threshold in a single month three previous times.”

Prices in the market remain high with a 19.8 per cent rise in average sales price year-over-year across all home types to $465,772. Detached homes were up 19.3 per cent to $537,389 and condos gained 17.6 per cent to $276,443.

Gains in average selling prices for townhomes (23.2 per cent) and semis (28.4 per cent) surged to $341,716 and $380,660 respectively.

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