Fall 2014 Quarterly Update

In September, 553 residential properties were sold through the Multiple

Listing System (MLS®) of the Kitchener-Waterloo Association of

REALTORS® (KWAR), up 14.3% over last year and a new record high

for this month.

Overall, 2014’s third quarter showed an increase in home sales from

the previous year, with August posting a 9.2% increase and July a

5.9% increase. At the end of September, year-to-date sales were up

with 5,210 residential units sold compared to 5,138 during the same

period in 2013. The average price of all residential properties sold

year-to-date was up 4% compared with 2013 and the average price of

a detached home to the end of the third quarter increased 4.3% over

2013.

The quarter began with strong home sales in July, up 16.6% above the

five-year average for this month. Residential sales in July included

450 single detached homes, up 8.4% from last year; 47 semidetached,

up 34.3%; and 40 townhomes, up 2.6%. The average sale

price of all residential sales through the KWAR’s MLS® System increased

5% in July to $335,858 compared to July 2013. Single detached

homes sold for an average price of $378,459, an increase of

4.7% compared to last year. The average sale price for a condominium

was $223,302, an increase of 3.9% compared to July 2013.

Residential sales in August included 367 single detached homes, up

4.9% from last year; 42 semi-detached, up 13.5%; 39 townhomes, up

77.3%; and 115 condominium units, up 11.7%. The average sale price

of all residential sales through the KWAR’s MLS® System increased

3.9% to $329,892 compared to August 2013. Single detached homes

sold for an average price of $378,251, an increase of 5.4%. The average

sale price for a condominium was $225,167, an increase of 1.5%.

According to KWAR, more sales in the higher price ranges in September

contributed to an 8.8% increase compared to last year in the average

price of a detached home. Residential sales in September included

359 single detached homes, up 15.1% from last September; 48

semi-detached, up 6.7%; 35 townhomes, on par with last year; and

108 condominium units, up 27.1%.

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Erik Erwin

Sales Representative

519.500.9950

Erik.Erwin@ChestnutParkWest.com

75 King Street South, Unit 50

Waterloo, ON  N2J 1P2 | Canada

www.chestnutparkwest.com

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