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Home sales cool somewhat in April

When you compare the numbers to a record-breaking March
Home sold sign
KitchenerToday file photo

It wasn't what we saw in March, but home sales were still strong in Waterloo Region in April.

According to the Kitchener-Waterloo Association of Realtors, 843 residential homes sold through the Multiple Listing Service last month. It's a decrease of over 15 per cent when you compare to March's record-breaking sales of 993 properties.

However, when you match this April to April 2020, sales were up over 263 per cent.

"Even if we do not take into account April 2020, when Ontario was in the early days of its state of emergency, it was still an exceptional number of homes sold last month," president of KWAR, Nicole Pohl, pointed out. "The previous 10-year average number of residential sales for April was 618."

The average sale price for a detached home in April was over $899,000, a 36.9 per cent increase compared to the same month last year.

Detached homes made up the largest number of sales, 484 sold, an over 233 per cent increase.

The association also recently started to include the MLS Home Price Index in its monthly summaries, as a way to gauge price trends. The benchmark price for a detached home in April was $809,000.

It also took an average of just nine days to sell a home last month.

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