Kitchener Waterloo residential real estate sales flourished in April with 510 sales reported through MLS. Of these 44 were new or to be built and 466 were resale homes. These results were up substantially over April 2011 which saw 459 sales including 39 new and 419 resales sold through MLS.
Included in the resale homes was the luxury home pictured above in Kiwanis Park. Interestingly, it was the second highest residential MLS sale on record for Kitchener Waterloo. Unfortunately, a sale like this creates problems for average sale price, list to sale price ratio and days on the market. Buyers in this price range are few and far between so it typically takes longer to sell. This home was no exception as it took slightly over 9 months to sell.
So, for this month, we'll use median sale prices to compare year-over-year results. In April, 2012, the median sale price in Kitchener Waterloo was an all-time record of $288,000. This was up 4% over April 2011's median sale price of $277,000. Days on the market for April sales rose to 37 days on average versus the 32 days in April 2011.
For advice on how all of this affects your real estate buying and selling, feel free to contact me 519-505-4488 email@example.com .
Active listings have climbed to 1516. Of these, 457 are new or to be built while 1059 are resale properties. As Kitchener Waterloo buyers and Realtors will tell you, the Twin Cities remain in a seller's market. For those relocating to Kitchener Waterloo, the supply of homes is tight and you'll need to make a quick decision. I expect Kitchener Waterloo real estate sales to remain robust through the Summer months with demand driven by strong employment and low interest rates.
Century 21 Home Realty Inc. Brokerage
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