KITCHENER-WATERLOO, ON (May 5, 2009) - There were 632 homes sold through the Kitchener - Waterloo Real Estate Board ‘s (KWREB) Multiple Listing Service® (MLS®) in April, a 27.4 percent increase compared with March 2009, marking the fourth consecutive month that sales have increased month over month.

In March, there were 496 residential transactions, and it was the first time since September of 2008 that sales had exceeded the 450 mark.

While this month's results are a 9.3 percent decrease from April 2008 (one of the best Aprils on record), 2009 turned out to be the fifth highest April on record. It is also interesting to note that the 9.3 percent decrease was the smallest decrease in over half a year and the first time in 2009 that the decrease in comparison to 2008 was less than 18 percent.

"Consumer confidence took a large hit at the beginning of the year, and our statistics certainly reflected that," reports Karen Shartun, KWREB president. "What we're seeing now is consumers regaining their confidence, but being more selective and hesitant than previous years."

Though April's positive results are still a far cry from the 697 homes sold this time last year, prices continue to hold their own in Kitchener-Waterloo and area. The average price of all homes sold last month decreased 2.7 percent to $255,568 relative to April 2008, and increased 1.3 percent compared to March 2009.

One notable price appreciation did occur last month, and that was the average sale price of Freehold Townhouses within Kitchener-Waterloo which increased 16.7 percent in April over March to $241,298, and 3.5 percent relative to the same month last year.

Explaining this price jump is a little tricky explains Shartun, "We never want to over-analyse the results of any single month. However, alternative forms of housing have been gaining market acceptance as the intensification of housing development in our region continues to increase." Continued Shartun, "It could also be an indicator of the demographic that is currently driving our local  market-we are seeing a lot of young professionals and first-time buyers taking advantage of the historically low interest rates and our great selection of MLS® listings."

The average price of a Single Detached home on a year-to date basis in Kitchener-Waterloo is $285,900.

The number of active MLS® listings through the KWREB is up 19.2 percent at the end of April to 2,303 compared to last year.

Consumers uncertain about current market conditions should work with a REALTOR® to develop an effective selling strategy. If you are buying, a REALTOR® will negotiate on your behalf and guide you through every step. A REALTOR® understands the local market and must, by law, look after your best interests.

The use of average price information can be useful in establishing long term trends; however the Kitchener-Waterloo Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR®.

Total Residential Units Sold in April over the last 10 years

K-W Only= MLS® transactions through the KWREB within the cities of Kitchener and Waterloo.
All Area= K-W Only plus the townships of Woolwich, Wellesley, Wilmot and any out-of-jurisdiction sales sold through KWREB.