Kitchener Waterloo real estate sales sizzled in July with 455 properties sold versus 386 last July. This represents an increase of 18% year-over-year. New home sales results were similar as resales accounted for the increased activity.
The average sale price rose nearly 4% to $310,791. Successful sellers were rewarded in an average of 37 days. These sellers received 97.2% of their asking price on average.
Active MLS listings sit at 1383 and consist of 341 new homes and 1042 resales. With less than a 3 month supply of resale properties, the Kitchener Waterloo real estate market continues to favour sellers.
Regular readers of this Kitchener Waterloo real estate blog will know not to make too much of one months results. The hotter than expected numbers for July may have been interest rate driven as buyers with preapprovals acted before their low rate lock expired.
As always, if you have real estate problems, I'm here to solve them! Feel free to call, text or email for a prompt, professional response 519-505-4488 firstname.lastname@example.org.
Century 21 Home Realty Inc. Brokerage
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