March 2009 marked the busiest month for REALTORS® of the Kitchener-Waterloo Real Estate Board (KWREB) in 6 months. A total of 497 residential properties were sold in March through the KWREB, representing a 34.7 percent increase over the 369 properties sold in February.

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This is the third consecutive month that the KWREB has recorded an increase in sales from the previous month. Residential properties in Kitchener-Waterloo sold for an average price of $252,778 last month, which is a slight 0.1 percent increase over March 2008. Homes selling in the $225,000 to $250,000 range made up 18 percent of the total market activity in March, a 3.6 percent increase in the proportion of sales occurring in that segment compared to the same period last year.

According to the President of the Kitchener-Waterloo Real Estate Board, prices in Kitchener Waterloo are holding their own, but buyers can still benefit from a very good selection of properties and mortgage rates that are at historically low levels.