SEPTEMBER HOME SALES IN WATERLOO REGION

KITCHENER-WATERLOO, ON (October 13, 2015) –– There were are total of 395 home sales through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in September compared to 444 during the same period in 2014, a decrease of 11.0%. Year-to-date 4,393 homes were sold, which is the highest number of units sold to the end of the third quarter since 2008, and 4.6% above the same time last year.

Single detached homes in September sold for an average price of $387,219 a decrease of 1.0% compared to last year. The average sale price for a condominium was $246,933 an increase of 6.2%, while the average sale price of all residential sales in KW and Area increased 2.4% to $347,633 compared to September 2014.

“We’re continuing to experience steady residential activity in the Region,” said Mark Wolle, President of KWAR. “This reinforces the diversity of our economy and the appeal of the Region as a place to live and work as we continue to grow.”

Residential sales in September included 274 single detached homes (down 2.5% from last September), 36 semi-detached (up 2.9%), 26 townhomes (down 16.1%) and 61 condominium units (down 37.1%).

“September’s relaxed sales numbers are not out of the ordinary, especially since this a very busy time of year for most people and the thought of selling or buying at this time can be stressful,” commented Mark Wolle. “Having a REALTOR® on your side can help alleviate that stress and ensure that such an important decision is made with confidence and care.”

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®.

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