Last month’s home sales in Kitchener-Waterloo decreased by 6.7% compared to October 2024.
“While October home sales in Waterloo Region lag behind historical averages, activity did pick up compared to September…With more listings available than we typically see this time of year and borrowing costs beginning to ease, buyers have the opportunity to explore a wider range of options.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in October was $734,928, a 5.6% decrease from October 2024.
Average Home Price:
- $842,907 Detached Home
- $593,652 Townhome
- $433,746 Apartment-Style Condominium
- $573,332 Semi
It took an average of 32 days to sell a home, compared to 28 days in October 2024.
“The Bank of Canada’s recent 0.25% rate cut and its hint that rates may hold steady could give home buyers the confidence to get preapproved for a mortgage. With a good number of homes for sale in Waterloo Region, now is a good time to talk to your Realtor® about finding a home that is right for you.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
