Kitchener-Waterloo Real Estate Update December 2009

Kitchener-Waterloo residential real estate continued to post solid gains year-over-year in December.  A total of 242 properties sold through the Kitchener-Waterloo MLS in December, 2009 versus 172 in 2008 for an increase of 41%.  Interestingly, the median sale price declined slightly to $264 848 compared to $265 858 in '08.  The average days on the market for December was a healthy 45 days versus 56 days in 2008.

There are currently only 673 residential properties for sale in Kitchener-Waterloo.  This indicates a sellers market as we have a less than a 3 month supply of homes for sale.  I anticipate these levels will increase in the coming months as we head initially towards a balanced market.

My next post will examine sales result as a whole for 2009.

Jeff Gingerich

Jeff Gingerich

Sales Representative
CENTURY 21 Heritage House Ltd., Brokerage*
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