Last month’s home sales in Kitchener-Waterloo decreased by 14.1% compared to April 2024.
“Home sales in April showed typical seasonal improvement over April, but remained notably below the ten-year average. What we’re seeing is a clear market rebalancing, with inventory levels up 75% above the ten-year average and nearly four months of supply across all property types.
This shift is creating more opportunities for buyers who now have more time for due diligence and negotiations, while sellers are adapting to a market that demands strategic pricing and patience. Waterloo Region’s strong economic fundamentals continue to support overall market stability, even as we move away from the intense seller’s market of recent years.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in April was $789,639, a decrease of 1.7% from April 2024.
Average Home Price:
- $927,591 Detached Home
- $615,982 Townhome
- $473,079 Apartment-Style Condominium
- $659,017 Semi
It took an average of 24 days to sell a home, compared to 27 days in April 2024.
“For those concerned about current market conditions, it’s important to remember that Waterloo Region remains one of Ontario’s most dynamic economic hubs, supported by our diverse employment base in tech, manufacturing, education, and healthcare.
My advice is to work closely with a REALTOR® who understands these shifting dynamics, focus on your long-term housing needs, and remember that real estate has historically proven to be a sound long-term investment in our region.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
