Last month’s home sales in Kitchener-Waterloo increased 4.6 percent compared to June 2022.
“The real estate market in Waterloo Region showed signs of a rebound in June, with monthly sales increasing on a year-over-year basis for the first time this year. The total number of home sales are down nearly 25 per cent for the first half of 2023 compared to last year but have been steadily climbing since January.”
M Bell, President of KWAR
June Sales Breakdown:
- 468 Detached Home Sales
- 149 Townhouse Sales
- 118 Condominium Sales
- 42 Semi-Detached Home Sales
The average sale price of all residential properties sold in June is up by 6.4% to $839,869 compared to June 2022.
Average Home Price:
- $1,005,519 Detached Homes
- $665,984 Townhomes
- $470,163 Apartment-Style Condominiums
- $691,507 Semis
It took an average of 15 days to sell a home in June, compared to 13 days in 2022. 1007 homes were available for sale at the end of June, a decrease of 23.1% compared to June of last year.
Market recap from the President of KWAR:
“In June we saw robust demand for detached properties, driving a significant 10.5 per cent increase in the average sale price of a detached home.
While the central bank raised its benchmark interest rate to 4.75 per cent near the beginning of the month, demand remains strong. Buyers and sellers can expect a competitive market as the number of homes for sale continues to be well below the long-term average.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
