HOW'S THE MARKET: JUNE 2014

JUNE HOME SALES AT THEIR STRONGEST IN FIVE YEARS
KITCHENER-WATERLOO, ON (July 4, 2014) – The number of residential properties processed through
the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR)
last month reached 714 units, representing an 8.8 percent increase over the same period last year,
and the highest sales activity for the month of June since 2009.


On a year-to-date basis, home sales during the first half of 2014 totaled 3,398, a 3.2 percent decrease
compared to last year, though in line with the previous 10-year average.


“The housing market in Kitchener-Waterloo and area continues to perform well,” says Lynn Bebenek
President of the KWAR. “Home buying activity in the region is supported by low mortgage interest
rates and the confidence consumers have in Waterloo region as a great place to put down roots.”
June’s sales included 490 single detached homes (up 14.2 % from last year) 120 condominium units
(down 2.4 % from last year), 48 semi-detached (down 17.2 %) and 47 freehold townhouses (down
34.3 %).


The average sale price of all residential sales through the KWAR’s MLS® System increased 6.8 percent
to $348,962 compared with June 2013. Single detached homes sold for an average price of $396,370
an increase of 6.4 percent compared to last year. Looking strictly at transactions within the cities of
Kitchener and Waterloo, the average sale price of a residential property increased a more modest
1.9% to $333,560 in June, and single detached homes increased 1.4% to $386,982 compared to the
same month last year.
 

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