Last month’s home sales in Kitchener-Waterloo increased by 4.6% compared to July 2023.
“In July, we observed a slight increase in home sales year-over-year following a reduction in interest rates, which seems to have provided a modest boost to market activity…While this uptick is encouraging, it is evident that many potential buyers are adopting a wait-and-see approach, anticipating further decreases in interest rates and better buying conditions in the near future.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in July was $782,716, down 1.6% from July 2023.
Average Home Price:
- $914,469 Detached Home
- $617,062 Townhome
- $494,897 Apartment-Style Condominium
- $667,063 Semi
It took an average of 22 days to sell a home in July, compared to 16 days in July 2023.
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
