The 740 residential homes sold last month through the Kitchener-Waterloo Association of Realtors set a new monthly high for June and represented an increase of more than 10% from June 2020.
âThe number of homes sold in the Kitchener-Waterloo area in the past six months exceeds every previous six months of activity thanks to our MLS system,â said Nicole Pohl, president of the local association, as part of of the monthly market update.
âSo far this year we’ve reported 4,393 home sales in the Kitchener-Waterloo area, which is remarkable,â added Pohl.
Total residential sales in the second quarter (April, May, June) increased 83.7% from a year ago. Since the start of the year, they are up 65.7%.
Total residential sales in June included 411 single-family homes (down 0.2% from June 2020) and 103 condominium units (up 51.5%). Sales also included 74 semi-detached homes (at par) and 152 townhouses (up 14.3%).
In June, the average selling price of all residential properties in the Kitchener-Waterloo area was $ 759,115, a 26.4% increase from June 2020 and a 2.6% increase from May 2021.
The average price for a single-family home was $ 919,914, a 31.9% increase from June 2020 and a 5.9% increase from May 2021.
The benchmark price for a single-family home was $ 820,800, a 32.7% increase from June 2020.
Last month, 860 new listings were added to the MLS system in KW and region, a 6.6% decrease from June of last year and 5.4% decrease from the average previous ten-year for June.
âThe biggest challenge in the housing market continues to be the limited supply of existing homes to buy,â Pohl said.
The total number of homes available for sale in active condition at the end of June was 365, down 43% from June of last year and 73.9% below the 10-year average previous 1,400 registrations for June.
The average number of days to sell in June was 11 days. The previous five-year average was 20 days.
Record numbers in June
The average price for a single-family home was $ 919,914 in Kitchener-Waterloo.
Homes sold in Kitchener-Waterloo and surrounding areas since the start of the year
Total residential sales in June (down 0.2% from June 2020)
Condominium units sold in June (51.5% increase)
Semi-detached houses sold (at par)
Townhouses sold (up 14.3%).
Average selling price for all residential properties in the Kitchener-Waterloo area
Average price of a detached house in June, an increase of 31.9% from June 2020 and an increase of 5.9% from May 2021.
New listings added to MLS in KW and region last month