home sales maintain steady pace
ON (February 5, 2013) -- Residential sales through the Multiple Listing Service
(MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) were down
slightly in January compared to the same month last year.
were a total of 337 residential properties sold last month, a 2.3 percent decrease
compared to the same month last year, and a 23.9 percent increase from December
sales were in line with the 10-year average for our area," Dietmar Sommerfeld,
President of the KWAR points out.
residential sales included 237 detached homes (up 6.8 percent compared to January
2012) 49 condos (down 34.7 percent), 24 semis (up 14.3 percent), and 26 freehold
townhouses (up 4 percent).
sales between $250 and $349,999 were strong showing a 32 percent (157 vs. 119
units) increase compared to January last year.
average sale price of all homes sold in January increased half a percent to $319,283
from the same time last year. Single detached homes sold for an average price
of $354,540, a decrease of 2.6 percent compared to January 2012. In the condominium
market the average sale price in January was $212,408, a 4.7 percent decrease
compared to the same month a year ago.
KWAR cautions average sale price information can be useful in establishing long
term trends, but should not be used as an indicator that specific properties have
increased or decreased in value. The average sale price is based on the total
dollar volume of all residential properties sold.
uncertain about current market conditions should work with a REALTOR® to develop
an effective selling strategy. If you are buying, a REALTOR® will negotiate on
your behalf and guide you through every step. A REALTOR® understands the local
market and must, by law, look after your best interests.
Just Call Hammer