In April 2017, 766 residential transactions were recorded through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), an increase of 14.3 percent compared to April 2016.
Waterloo Region is still seeing lots of buying and selling activity, and fortunately there have been more homes coming to market, meaning that there are more homes for buyers to choose from. At the same time, the demand for homes continues to grow.
In April, REALTORS® listed 985 residential properties in the K-W area, a 17.8 percent increase compared to April of 2016, and the first time the number of new listings put on the market in a single month has come so close to the 1,000 unit mark in two years.
Despite greater numbers of homes available for purchase in April, vigorous demand for homes in Waterloo region meant homes were snapped up quickly. The average days on market in April were 10, compared to 33 days a year ago. On a month-to-month basis, it took four fewer days from list to sale date in April compared to March.
In fact, The average sales price of all residential sales increased nearly 40%to $512,656 compared to April 2016.
If you’re considering selling your home or investment property, 2017 is shaping out to be a good year to do so.
For more details on April’s K-W Market Update including statistics from Wellesley, Wilmot and Woolwich Townships, click here.