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 email@example.com.
Century 21 Home Realty Inc. Brokerage
"Delivering results since 1989"