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April 2016 Sets Residential Sales Record in Kitchener-Waterloo

Posted by John Benjamins on May 3, 2016
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The Kitchener-Waterloo Real estate board just released sales statistics through the MLS system for the month of April. The report highlights the continued trend in our Kitchener-Waterloo market of monthly gains in sales volume and values.

Compared to April 2015, last month saw an 18.9% increase in residential sales volume, the bulk of sales coming from condominium units (+42.5%) Overall, the 2,019 home-sales in April set a new watermark for volume in that month.

Single detached homes sold for an average of $424,552 an increase of 5.2% compared to April 2015. Townhomes  (+0.6%), semi-detached (+3.0%) and condos (+2.3%) same more modest value gains compared to this time last year.

Perhaps of most interest, the overall listing inventory for the Kitchener-Waterloo Real Estate Board is down 42% compared to this time in 2007 (right before the market slow-down) This lack of inventory combined with increased buyer activity is creating a high level of competition for listings.

Anecdotally, Benjamins Realty has seen multiple offers on both our listing and buyer ends. Those thinking of selling their home have the advantage of a strong seller’s market.

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