Last month’s home sales in Kitchener-Waterloo decreased 0.7 percent compared to December 2022.
“It should not be a surprise to anyone that for the second year in a row, the housing market in Waterloo Region has been affected by higher interest rates, resulting in a significant decline in annual sales. This year’s sales reached their lowest point in over two decades.”
C Moura, President of KWAR
December Sales Breakdown:
- 172 Detached Home Sales
- 54 Townhouse Sales
- 35 Condominium Sales
- 24 Semi-Detached Home Sales
The average sale price of all residential properties sold in December is up by 2.8% to $740,697 compared to December 2022.
Average Home Price:
- $848,151 Detached Homes
- $617,023 Townhomes
- $490,816 Apartment-Style Condominiums
- $613,283 Semis
It took an average of 30 days to sell a home in December, compared to 25 days in 2022.
Market recap from the President of KWAR:
“Waterloo Region’s slowing housing market echoes the overall slowdown we are seeing in the broader economy.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
