Kitchener Waterloo Real Estate Update April 2011

Record rainfall dampened April 2011 residential sales as Kitchener Waterloo recorded 455 MLS sales, off 16% from April 2010 results.  New home sales totalled 38, an increase over the 31 sold in April 2010.  Resale unit sales were off 18% year-over-year.  There was some good news as April sales averaged just 39 days on the market and an average price of $305,379 versus $285,538 in April 2010.  Sellers of resale homes received 98% on average which was less than the blistering 98.7% sellers got last April.

Active residential MLS listings in Kitchener Waterloo have risen to 1300.  New homes account for 427 and resale homes sit at 873.  This represents a noticeable increase over the 1225 in March and 1187 in February.  Should this trend continue, watch for the seller's market to moderate as buyers have more choice and drive a harder bargain.

As always, remember that markets are local.  If you are curious about the current market value of your home, feel free to call or email 519-505-4488 jeff.gingerich@century21.ca.

 

Jeff Gingerich

Sales Representative

Century 21 Home Realty Inc. Brokerage

Office:  519-570-4663

Direct:  519-505-4488

http://JeffGingerich.com

"Delivering results since 1989"    

Jeff Gingerich

Jeff Gingerich

Sales Representative
CENTURY 21 Home Realty Inc., Brokerage*
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