Kitchener Waterloo Home Sales Update

Despite the mounting troubles at Blackberry, Kitchener Waterloo home sales in September were healthy.  There were 356 residential home sales on MLS for the month.  This is up nearly 8% over September 2012's 331 sales.  New home sales declined to 15 from 22 while resales were up 11% year-over-year.

Sellers received, on average, 97.8% of their asking price in September and it took 40 days for their Realtor to put up the sold sign.  Average prices rose to $305,370, up just 2% over last September as price growth continues to moderate.

The bigger question on everyone's mind is where do we go from here?  The number of homes for sale in Kitchener Waterloo stands at 1369 with 353 new or to be built and 1016 resales.  With just a 3 month supply of resale homes, Kitchener Waterloo remains a sellers market.  Keep an eye on this number in the coming months.

Regular readers of this real estate blog will know that markets are local and your neighbourhood may have better or worse market conditions than the average.  For sound advice on your real estate needs, feel free to call, text or email 519-505-4488 jeff.gingerich@century21.ca.

 

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Jeff Gingerich

Jeff Gingerich

Sales Representative
CENTURY 21 Home Realty Inc., Brokerage*
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