Kitchener-Waterloo Hits New Record For Month Of September

There has been a new record by the region of Southern Ontario covered by Kitchener-Waterloo Association of Realtors, as the homes sales figure make breaking grounds. The sales for this year was at 540, an increase from last year by 29.2 per cent.

For the first time, the sales was at 5,241, which was higher than the average 5,000 sales. Setting a record for the first time.

Sales picked up, after it declined by 51 per cent over the years, with just about 851 homes available in the month. Freehold townhouses, along with detached and semi-detached had an average gain of 22.2, 19.8 and 18.4 per cent. The sales of Condo soared sharply than the others.

The president of KWAR, Charlotte Zawada said; “Like many of our neighbouring market areas, it continues to be a sellers’ market here in Waterloo region. The tight supply of listings we’re experiencing is putting upward pressure on prices.”

There was an incline of 10 per cent year-to-date in the average price of various properties, unlike last year’s own. The prices were at $380,692, while detached homes went up by 11.8 per cent to $443,554, townhouses increase to $293,167 by 8.5 per cent and condos up by 4.5 per cent to $231,187. The average price for the various type of properties was at $350,000, an incline of 9.9 per cent increase over the years.