Through the first six months of the year, more homes have sold in the Kitchener-Waterloo area than ever before.
According to the Kitchener-Waterloo Association of Realtors – which also logs transactions out of Wellesley, Wilmot and Woolwich – 740 properties changed hands in June, bringing the total to 3,519 on the year.
That figure is 18 per cent higher than the number of homes that had sold through the first half of 2015, and almost 23 per cent above the five-year average.
For June specifically, sales were up by almost 30 per cent over the five-year average.
While homes on the market are selling, realtors say they’re still seeing unusually low numbers of homes being offered up for sale.
As of the end of June, the number of homes listed for sale in the area was 51 per cent lower than what had been seen one year earlier.
The combination of high demand and low supply has house prices pushing further upward.
KWAR data shows that average sale prices are up by more than 11 per cent year-over-year.
