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Home sales rebound in June

An almost 60 per cent increase compared to May
Home sold sign
KitchenerToday file photo

The real estate market came back in a big way in June.

The Kitchener-Waterloo Association of Realtors says sales were up over 57 per cent compared to May.

But it's just an over two per cent increase when you compare it to June 2019.

A total of 673 residential homes were sold through the Multiple Listing System last month.

Here's the breakdown:

  • 413 detached homes (up 1.7 per cent from June 2019)
  • 67 condominium apartments (up 36.7 per cent)
  • 134 townhouses (down 15.7 per cent) 
  • 59 semi-detached homes (up 31.1 per cent)

The average sale price of all properties sold also hit $600,000 for the first time - $601,285, an increase of 12.8 per cent.

"I expect for the remainder of 2020 will see the number of home sales returning to near historical levels," KWAR President Colleen Koehler said in a release.

"There will be some catching up to do in the coming weeks, but I don't think you will see the market taking a hiatus this summer." Koehler added.


Blair Adams

About the Author: Blair Adams

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