Kitchener Waterloo Real Estate association has released the latest sales statistics for the month of May tracked through the MLS (Multiple Listing System). For a second straight month, the Kitchener housing market established record sales volume, this despite historically lower listing inventory.
The report cites low and relatively stable interest rates, low unemployment and general optimism about the region as fuelling the growth.
Waterloo and Kitchener housing statistics
In May, active listings were down 26.1% compared to the same time last year. Meanwhile, overall sales volume was up 19.6%. This has contributed to strong value growth as well. Semi-detached homes saw the largest increase in average sale price, 10.1% better than May of 2015. Single detached homes were close behind with a 9.8% increase. Interestingly, condominium apartment units saw a slight dip at -1.2%