Despite a cold wet month, residential MLS real estate sales in Kitchener Waterloo were the picture of health in April. A total of 498 homes sold, down slightly from outstanding April 2012 results of 513. Residential resale homes were virtually a dead heat with 468 changing hands this year and 469 last year. New home sales dropped from 44 last April to 30 this year.
Happy Kitchener Waterloo home sellers received, on average, 98.1% of their asking price. It took 34 days to put up the sold sign, on average, down from 36 days last April. The average sale price in April was $319,918. This represents a moderate increase of 2.4% year-over-year.
The current market still favours sellers. Active residential properties on MLS total 1428. Of these, 325 are new homes or to be built while 1103 are resales or used homes. Using April sales, there is just over a 2 month supply of resale homes for sale which should spur activity among Kitchener Waterloo home builders.
So where does the Kitchener Waterloo market go from here? I anticipate more of the same for May as low interest rates and a good selection of properties available drive healthy results.
Regular readers of this real estate blog will know these are averages and the sales for your area may be better or worse. As always, if you have real estate questions, I'm happy to answer them. You can call, text or email 519-505-4488 firstname.lastname@example.org.
Century 21 Home Realty Inc. Brokerage
"Delivering results since 1989"