Competition was high and home prices continued to soar in the month of July, according to the Kitchener-Waterloo Association of Realtors’ monthly market update.
There were 734 residential homes sold through the Multiple Listing System in July, an increase of 25.7 per cent, compared to the same month last year, and well above the previous 10-year average for July of 531.
“The rate of home sales in July resembled the kind of month we would normally see in May, and I chalk up much of that to the pent-up demand that built as we moved into Stage 3 of reopening in mid July,” said Colleen Koehler, president of KWAR.
Total residential sales in July included 464 detached homes (up 39.3 per cent from July 2019) and 65 condominium apartments (up 3.2 per cent). Sales also included 153 townhouses (up 4.8 per cent) and 52 semi-detached homes (up 23.8 per cent).
Read the full text
