House sales in Kitchener and Waterloo dip in August

KITCHENER — House sales in Kitchener and Waterloo dipped in August, but year-to-date sales remain far ahead of last year’s pace.

The Kitchener-Waterloo Association of Realtors recorded 459 residential sales last month, down 2.1 per cent from 469 in August 2014.

The association noted that last month’s total is 9.5 per cent higher that the five-year average for the month of August.

Sales in the first eight months of the year totalled 3,991, which is 6.1 per cent more than in the same period in 2014.

“Overall, the Kitchener-Waterloo real estate sector continues to show long-term strength and stability,” association president Mark Wolle said in a news release.

Last month’s sales included 284 single-detached homes (down 2.1 per cent from a year ago), 35 semi-detached homes (up 2.9 per cent), 29 townhouses (down 17.1 per cent) and 107 condominium units (down 0.9 per cent).

The average sale price in August for all residential properties increased 6.6 per cent to $347,057 compared to a year earlier.

Single-detached homes sold for an average of $401,533, up 6.2 per cent. Condos sold for an average of $241,508, up 7.7 per cent; townhouses sold for an average of $300,546, up 2.9 per cent.

Waterloo Region Record

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