|
|
Residential real estate sales through the Multiple
Listing System (MLS® System) of the Kitchener-Waterloo
Association of REALTORS® (KWAR), were up over last year for
the second consecutive month.
Members of the KWAR sold 672 residential properties
in April, an increase of 8.9 percent compared to April of last
year. April’s results are on par with the number of sales that
happened last month and in line with the previous five-year
average for units sold in the month of
April.
“A robust market is an indication that homes remain
a solid investment within our vibrant diverse local economy
and people have confidence in both,” says Sara Hill, President
of KWAR. “Interest rates remain low, and this in combination
with the traditional spring buying season is supporting strong
residential activity.”
April’s sales included 452 detached homes (up 8.4
per cent), 120 condominium units (down 1.6 per cent), 55
semi-detached (up 22.2 per cent) and 42 townhouses (up 40 per
cent).
The average sale price of all residential sales
increased 1.9 percent to $316,023 compared with April 2011.
Single detached homes sold for an average price of $357,597,
an increase of 2.1 percent compared to last year. In the
condominium market prices moved up a slight 0.3 percent to
$214,771.
The
KWAR cautions that average sale price information can be
useful in establishing long term trends, but should not be
used as an indicator that specific properties have increased
or decreased in value. The average sale price is calculated
based on the total dollar volume of all properties sold. Those
requiring specific information on property values should
contact a local
REALTOR®.
REALTORS® believe that healthy
communities depend on a strong economy, safe neighbourhoods, a
clean environment, access to housing and the protection of
rights of property owners. The KWREB recognizes the need to
support and enhance the Quality of Life enjoyed by residents
of Waterloo.
The
Kitchener-Waterloo Real Estate Board (KWREB) is a member
focused not-for-profit association representing over 1,100
local REALTOR® members. The board was formed in 1937 and
continues to provide a robust Multiple Listing Service® (MLS®)
System, continuing education, and related services to its
members. The term REALTOR® is a trademark identifying members
in good standing of CREA who provide real estate brokerage
services in compliance with CREA’s By-Laws and Rules, the
REALTOR® Code, and in compliance with all applicable federal
and provincial laws and regulations. The MLS® trademark is
also owned by CREA and is used by the KWREB under license. The
MLS® Marks identify professional services rendered by members
in good standing of CREA to effect the purchase and sale of
real estate as part of a co-operative selling system (the
“MLS® services”), in compliance with CREA’s By-Laws and Rules,
the REALTOR® Code, and in compliance with all applicable
federal and provincial laws and regulations. The MLS® System
of the KWREB is operated in association with the MLS® Marks.
An MLS® System includes an inventory of listings of
participating REALTORS®, and ensures a certain level of
accuracy of information, professionalism and co-operation
amongst REALTORS® to affect the purchase and sale of real
estate.
All
of KWREB’s listings may be found on the public website:
www.REALTOR.ca.
For
Comment:
Sara Hill, President,
519-885-0200
Tania Benninger, Communications Manager, 519-576-1400 ext.
227 |
