Last month’s home sales in Kitchener-Waterloo decreased by 3.2% compared to March 2023.
“While home sales in Waterloo Region hit a record low for March in over two decades, we’re also witnessing a positive trend. Over the past three months, prices and activity have started to pick up, and I expect this momentum will continue into the spring.”
C Moura, President of KWAR
The average sale price of all residential properties sold in March is up 3.6% to $806,279 compared to March 2023.
Average Home Price:
- $954,342 Detached Homes
- $667,810 Townhomes
- $483,085 Apartment-Style Condominiums
- $680,039 Semis
It took an average of 19 days to sell a home in March, the same in as in 2023.
Market recap from the President of KWAR:
“Home prices have been gradually increasing since December, which is a typical trend. The rate and extent of further increases will depend on the willingness and patience of potential home buyers who have been waiting for lower interest rates before making their purchase. With the Bank of Canada not anticipated to make any rate changes before its June meeting, some potential home buyers may feel stuck in limbo.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
