RECORDS STILL BEING SET AS KW HOME SALES SURGE

While Canada’s athletes were racing for Olympic Gold, Waterloo region’s homebuyers were racing to buy real estate. REALTORS® of the Kitchener‐Waterloo Real Estate Board traded 553 homes in February through the Multiple Listing System for a total value of $153,120,645, marking a 31.7 percent increase over January’s results.

February’s sales included 350 detached homes (up 43.4 percent from 2009), 99 condominium units (up 65 percent from 2009), 52 semis (up 73.3 percent from 2009) and 49 townhouses (up 63.3 percent from 2009).

There were a total of 75 properties sold in the $300,000 to $350,000 price range‐‐ the second most popular category last month—a 150 percent increase on a year‐over‐year basis. The most active price range continued to be homes selling between $225,000 and $250,000, with 93 sales, up 50 percent over last year.

The average sale price of all residential sales increased 12.2 percent to $276,891 compared with February 2009. Single detached homes sold for an average price of $324,631, an increase of 15.8 percent compared to last year. In the condominium market the average sale price in February was $173,726, an increase of 8.3 percent from one year.

REALTORS® believe that healthy communities depend on a strong economy, safe neighbourhoods, a clean environment, access to housing and the protection of rights of property owners. The KWREB recognizes the need to support and enhance the Quality of Life enjoyed by residents of Waterloo region.

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