February 2011 saw healthy MLS residential sales results in Kitchener Waterloo. Unit sales totalled 373 for a decline of approximately 4% over February 2010 sales of 385. Of note, Kitchener Waterloo homebuilders experienced a 46% surge with 60 new home sales through MLS versus 41 for last February. This left resale properties off by 9% year-over-year(313 vs. 344). The average sale price for February 2011 was $283,109 which represented a slight increase over the $281,422 average in February 2010. Other signs pointed to a less "fevered" pitch in sales this month as the average time it took to sell a property rose to 48 days versus 37 last year and the average list price to sale price declined from 98.9% last year to 98.4%.
Active residential MLS listings total 1187. Of these, 471 are new/to be built and 716 are resale properties. With less than a 3 month supply of resale properties, the Kitchener Waterloo real estate market remains a sellers market. As noted above, the strength of that market is beginning to moderate.
As always, I'll be happy to consult with you. We can discuss whether now is the ideal time to sell your property or buy another one. Remember we have the answer to the classic dilemna, "should I buy first or sell first?" - our Guaranteed Sale Program. Let's get together and see if it's right for you!
Century 21 Home Realty Inc. Brokerage
"Delivering results since 1989"