A new report shows that home sales in the region increased almost 15 per cent for the month of January compared to the year before.
According to the Kitchener-Waterloo Association of Realtors, there were 307 residential sales last month with a median price of $455,000.
A detached home sold in January had a median price of $530,000.
“January was surprisingly busy with an above-average number of home sales,” says KWAR President Brian Santos.
Condo sales were also up nearly 20 per cent, with 80 condo units sold through the month.
Sales of semi-detached homes and freehold townhouses, on the other hand, were down 28.6 per cent and 19 per cent, respectively.
Realtors listed 585 properties in the region, an increase of more than a quarter compared to January 2018.
The average home took 26 days to sell, five days less than the amount of time last January.
