Local home sales jump almost 6%

Home sales jumped near six percent last month.

That compared to January last year.

The Kitchener-Waterloo Association of Realtors says homes were not on the market long with 327 properties sold.

President James Craig says, “The continued strong demand combined with a tight supply of listings means that many properties are not on the market for very long (…) this has created an extremely competitive buying environment.”

He adds the average property was on the market for 22 days, compared to 47 days at this time last year.

The average sales price of all residential properties sold in January was around $420,000.

“Getting into the housing market at the moment is not easy, and buyers need all the help they can get.”

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