It was a merry month of May for Kitchener Waterloo real estate as 542 properties sold through the Multiple Listing System. This represents a 10% increase over May 2012 sales of 492. Of note, it also bucks a national trend as the majority of big cities across Canada are showing declining sales year-over-year.
There was nothing average about average prices as May sale prices rose nearly 7% year-over-year to $322,577. It took Kitchener Waterloo Realtors 31 days to put the sold sign up and successful sellers received 98% of their asking price on average.
Active properties for sale on MLS sit at 1530 consisting of 340 new homes and 1190 resales. Clearly based on May sales numbers, sellers are in control of the current market in Kitchener Waterloo.
So where do we go from here? Regular readers of this real estate blog will know not to put too much stock in the results of 1 month. While the local market is active currently, it's unrealistic to expect this to last indefinitely. I anticipate the second half of 2013 to be similar to last year where properties for sale increase and sales decrease for seasonal reasons.
As a result, if you are thinking about selling your property, there really is no time like the present. Feel free to call, text or email and I'll be happy to help! 519-505-4488 email@example.com
Century 21 Home Realty Inc. Brokerage
"Delivering results since 1989"