A total of 722 homes sold in Kitchener-Waterloo and area in June of this year, this is a 1.3 percent increase over June 2008. It is also the second best month on record for residential property sales through the MLS system of the  KWREB. In fact, overall June sales were up in all categories except multi-family and land sales.

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"I think what we are seeing in Waterloo region, is the resale housing market returning to its prerecessionary pace," says Karen Shartun, President of the KWREB. "June was also the third month in a row that sales exceed 600 units, so we have some strong momentum happening in the market."

The number of units sold to date in 2009 is 3,174 homes, this represents a 9.9 percent decrease in number of properties sold when compared to the year to date in 2008.

The most active price range during the first six months of 2009 was for homes selling between $225,000 and $250,000 (508 homes sold). For homes selling in the upper price ranges things have been quite a bit slower. In the last six months only 13 homes have sold for over $750,000 compared to 28 sold in the same period of 2008.

The number homes that had active MLS listings at the end of June was 2,089 houses (this is 3.3 percent higher than last year.

The President of the KWREB says she expects that sales for the remainder of the year will continue to improve, as prospective home buyers continue to take advantage of low interest rates, and the economic horizon starts to look brighter.

The information in this article was taken from a media release supplied by the Kitchener-Waterloo Real Estate Board (KWREB).