Home sales in the Kitchener-Waterloo area saw a decrease in August, down 2.1 per cent from a year earlier with 459 sales through the MLS system. However sales were 9.5 per cent higher than the five-year average for August. The Kitchener-Waterloo Association of Realtors says that year-to-date home sales were up 6.1 per cent compared to the first 8 months of 2014 and 6 per cent higher than the five-year average. That’s the strongest result for the period since 2008.
“We saw strong residential sale activity this summer season and with recording setting year-to-date sales it’s clear that buyers remain confident about the value of homes in Kitchener-Waterloo and area,” said Mark Wolle, President of KWAR. “Overall, the Kitchener-Waterloo real estate sector continues to show long-term strength and stability.”
Year-over-year semi-detached home sales were the only sector to see an increase (up 2.9 per cent) while detached homes (down 2.1 per cent), condos (down 0.7 per cent) and townhomes (down 17.1 per cent) declined.
Average sales price increased by 6.1 per cent across all home types to $347,057. Condo prices increased the most, at 7.7 per cent.
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