admin | Aug. 9, 2016
July saw 588 homes sold in Kitchener-Waterloo and surrounding areas: the most active July on record.
Supply is still severely depressed given how much buyer demand we are seeing. As I write this on August 8th I pull a search for single detached homes in Kitchener-Waterloo between $0 and $400,000 and I get a measly 71 matches. When I look for semi-detached homes $0-$400,000 I get only 20 properties available! We need listings folks!!!
At the end of July we had 1073 homes on the market – 60% fewer than at the end of July last year. We need listings folks!!!
The low supply and high demand continues to drive prices up.
The average single detached price is now at $452,799 – 14% higher than last year at this time.
The average semi-detached price is now at $308,479 – 16.4% higher than last year at this time.
The average townhouse price is now at $285,611 – 10.7% higher than last year at this time.
The average apartment style condo price is now at $240,944 – 14.2% higher than last year at this time.
The average price of all residential sales has risen 13.2% to $387,102 vs July 2015.