Waterloo Chronicle reports 27.4% Increase in Home Sales

There were 632 homes sold in Kitchener and Waterloo through April, a 27.4 per cent increase compared to March 2009.It marked the fourth consecutive month that sales have increased month over month. In March, there were 496 residential transactions and it was the first time since September of 2008 that sales had exceeded the 450 mark.While this month’s results are a 9.3 per cent decrease from April 2008 (one of the best Aprils on record), 2009 turned out to be the fifth highest April on record.

“Consumer confidence took a large hit at the beginning of the year, and our statistics certainly reflected that,” said Karen Shartun, Kitchener-Waterloo Real Estate Board president.

“What we’re seeing now is consumers regaining their confidence, but being more selective and hesitant than previous years.”

Though April’s positive results are still a far cry from the 697 homes sold this time last year, prices continue to hold their own in Kitchener- Waterloo and area.

The average price of all homes sold last month decreased 2.7 percent to $255,568 relative to April 2008, and increased 1.3 percent compared to March.

The average price of a single detached home on a year-to date basis in K-W is $285,900.

Now, stats and averages don’t tell the whole story – depending on what sort of properties you invest in, your mileage may vary.  We are seeing multiple offers on many properties, in different price ranges – with mortgage rates as low as they are people are out their looking for real estate to buy!

For information about value of specific properties, and opportunities that you can invest in today at great prices, contact us today.