While Blackberry may have had a lot of drama at the end of January 2013, the Kitchener-Waterloo real estate market did not. Altogether, there were few major changes in house sales in Canada’s technology triangle, according to numbers released by the Kitchener-Waterloo Association of Realtors (KWAR).
During the first month of the year, 337 properties changed hands, only a 2.3 per cent decrease compared to the same time in 2012.
However, there was a noticeable bump in buying in the new year, with a 23.9 per cent increase in sales from December 2012.
“January’s sales were in line with the 10-year average for our area,” said Dietmar Sommerfeld, President of the KWAR, in the news release.
In terms of values, the average home price increased by half a per cent to $319,283 from the same time last year. Condos saw price drops of 4.7 per cent to $212,408 in January, while single detached homes sold for an average price of $354,540, for a 2.6 per cent decrease.
The part of the market that saw the greatest flurry of activity was homes priced between $250,00 and $349,999. Sales were up by a strong 32 per cent (157 vs. 119 units) compared to January 2012.
KWAR included complete stats for January 2013 as well as a graph for the ten-year averages. Check them out below…