Home sales cool off in KW for the first time this year
Posted Jul 6, 2017 07:13:20 AM.
Last Updated Jul 6, 2017 07:13:53 AM.
This article is more than 5 years old.
The stats from June home sales in Kitchener-Waterloo have been released and it could mean good news for buyers.
For the first time this year home sales have slowed when compared to the same month in the previous year.
Last month’s 716 residential sales is down 3.2 per cent from last year.
However, June of last year was a record breaking month, and any monthly sales total over 700 is very strong.
According to the Kitchener Waterloo Association of Realtors before this year we have only ever surpassed the 700 sale mark in a single month three previous times.
Kitchener Waterloo remains on pace for a record breaking year overall. The total number of sales during the first half of the year to 3,834, an increase of 9.1 per cent compared to 2016.
The number of listings also remained strong. KWAC says 1.083 properties were listed last month, a 28.7 per cent increase compared to June of 2016.
That is the second month in a row that the number of new listings put on the market has exceeded 1,000 units.
The average sales price of all residential sales increased 19.8 per cent to $465,772 compared to June 2016.
Detached homes sold for an average price of $537,389 for an increase of 19.3 per cent, while the average sale price for an apartment style condominium was $276,443 for an increase of 17.6 per cent.
