Demand for pricier homes pushing up averages in Kitchener-Waterloo and area

Posted: June 4, 2010 in Buyers, General Information, Sellers, Statistics
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KITCHENER-WATERLOO, ON (June 4, 2010) – Increased demand for more expensive homes pushed the average price of residential properties up 11.2 percent to $338,209 on a year-over-year comparison.

There was a 50.7 percent increase in the number of homes selling for more than $400,000, with a total of 98 transactions through the Multiple Listing System (MLS®) of the Kitchener-Waterloo Real Estate Board (KWREB) in May compared to 65 transactions in the same month last year.

 Meanwhile, the Canadian Real Estate Association recently announced its revised forecast for national activity. The average home price is expected to climb 1.6 percent for homes across Canada, reaching a record $325,400. To date in 2010, the average price of all homes sold in Kitchener-Waterloo and area has increased 13 percent to $328,608.

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