How’s the Market? Kitchener Waterloo Real Estate Board Statistics May 2014

Here are the real estate statistics for the K-W real estate board for the month of May 2014.

Kitchener-Waterloo Statistics Only (Total Residential)

kitchener-waterloo-real-estate-statistics-May-2014

- Unit sales are year-to-date (YTD) and for month in K-W
- Average Sale Price is year-to-date in K-W
- Average days on market are only for the month not year-to-date in K-W

Press Release: All areas are considered here, not just Kitchener-Waterloo

STEADY STREAM OF HOME SALES FOR THE MONTH OF MAY

KITCHENER-WATERLOO, ON (June 4, 2014) –– Residential property sales through the Multiple Listing
System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in May were down
5.6 percent compared to last year’s record setting month of May.

A total of 725 residential properties were sold in the month of May compared to 768 the same time
last year. This was only the second time since 2007 that residential sales in May have exceeded 700
total sales. Comparing the 5-year average for the month of May shows a 5.7 percent jump in
residential sales.

“The spring home buying season was in full swing this May” says Lynn Bebenek, President of KWAR.
“Strong sales and price gains reflect the confidence homebuyers have in regional housing market as
a great place to live and invest.”

May’s sales included 514 single detached homes (down 3.4 % from last year) 101 condominium units
(down 17.9 %), 60 semi-detached (up 3.4 %) and 43 freehold townhouses (down 2.3 %).

The average sale price of all residential sales through the KWAR’s MLS® System increased 3.5 percent
last month to $345,323 compared with May 2013. Single detached homes sold for an average price
of $386,474 an increase of 2.1 per cent compared to last year. The average sale price for a
condominium was $226,157, an increase of 6.4 percent compared to May 2013.

The KWAR cautions that 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 calculated based on the total dollar volume of all properties sold. Those
requiring specific information on property values should contact a local REALTOR®.

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The above information is believed to be correct errors and omissions accepted.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118