Year-to-date sales were 23.4 per cent above the 5-year average and is another record at 4,703 sales. Tight inventory continues to weigh on activity with active listings down 46.6 per cent to the end of August compared to the same period last year.
The average sale price for single-detached homes was up 20.9 per cent year-over-year to $487,500 while condo prices were up 7.9 per cent to $233,302.
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Real estate agents in the Kitchener-Waterloo market say that August was the most active on record with a rise in sales of 26.4 per cent year-over-year with 598 homes sold.