Kitchener-Waterloo Association of Realtors saw a record 740 sales in June, up 13.1 per cent from a year earlier. For the first half of 2016, sales are up 18 per cent to 3,519.
“With fewer listings on the market combined with an increased interest in people wanting to live in the Region, we’re seeing upward pressure on home prices,” says KWAR president Charlotte Zawada.
Single detached style homes sold for an average price of $451,289 an increase of 10.7 per cent compared to last year.
London and St. Thomas Association of Realtors also reported its best June on record with 1,133 homes sold. Year-to-date sales were up 8.6 per cent but inventory remains tight with a 24 per cent drop from a year earlier and new listings down 9.2 per cent in June. The average sales price was $277,084, up 4.7 per cent year-to-date.
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Home sales remain strong in Ontario and not just in Toronto. Kitchener-Waterloo and London-St Thomas have both reported record-setting figures this week.