Home sales continued what has been a strong season so far, with the number of homes sold in June climbing 8.8 per cent compared to the same month last year.
According to a report from the Kitchener-Waterloo Association of Realtors, home sales this year to date have increased slightly over last year’s mid-year mark, but that’s including slow numbers from a turbulent February.
Detached, semi-detached and town homes saw increases of 8.9, 15.4 and 27.2 per cent, respectively. The number of condos sold, meanwhile, slipped 28.6 per cent compared to last June.
“We’re still in a solid seller’s market situation heading into the summer months,” says Santos. “While more new listings are coming onto the market, strong buying demand is keeping supply tight.”
While the number of homes listed increased by 4.3 per cent compared to last June, the total number of homes in active status at the end of June decreased by 10.8 per cent to 890.
That’s “well below the previous ten-year average of 1,581 listings for June,” the report says.
That high demand with limited supply has pushed home prices even higher, with the median price of all residential properties sold climbing 9.9 per cent to $494,500.
The median price of a detached home sold in June increased 11.7 per cent to $581,500.
The average home sold in 20 days through June, compared to 22 days in June 2018.
