The last month we had a total of 408 residential homes sold in Kitchener-Waterloo area. As the president of K-W Real Estate Board (Ted Scharf) said: “This is the most residential sales we have seen in the month of February in over two decades”.
This has been a very strong start of the year in real estate. We expect to exceed home sales in 2009 by more than 30% in 2010.
February sales included 242 detached homes (up 31 % from 2009), 38 semis (up 58% from 2009), 41 townhouses (up 52 % from 2009) and 87 condominium units (up 50 % from 2009).
As you can see home sales last month exceed by far the sales from same month last year. Houses with price over $250,000 had the biggest jump.
Mortgage rates continue to be very attractive and living in a great and reliable region make demand of houses to increase.