Kitchener-Waterloo’s weather was unusually hot in March – and so was its real estate sector.
The Kitchener-Waterloo Association of Realtors, which handles real estate transactions in those cities as well as the townships of Wellesley, Wilmot and Woolwich, says a total of 584 properties were sold in its area last month.
That number represents a 16 per cent increase over the 502 sold in March 2015, and the most sold locally in March since 2010, when 607 properties changed hands.
Likewise, the year-to-date number of 1,350 properties sold in the area represents the highest number since 2010.
“The housing market has been thriving this first quarter across the region,” KWAR president Charlotte Zawada said in a statement.
“With relatively mild weather and buyers coming out in drovers, we should be in for a very busy upcoming spring market.”
The average price of a home sold in the area in March was $371,733, while the median price – meaning half of all properties sold for more and half sold for less – was $349,000.
In March 2010, the average sale price stood at $285,028 and the median price at $259,900.
