Last month’s home sales in Kitchener-Waterloo increased 9.7% compared to February 2023.
“Home sales remained sluggish in February, up over last year’s record-breaking low, but still well below historical norms for February.”
C Moura, President of KWAR
The average sale price of all residential properties sold in February is down 0.7% to $755,934 compared to February 2023.
Average Home Price:
- $889,280 Detached Homes
- $629,734 Townhomes
- $459,455 Apartment-Style Condominiums
- $673,638 Semis
It took an average of 23 days to sell a home in January, compared to 20 days in 2023.
Market recap from the President of KWAR:
“Examining benchmark and average prices for various property types over the past twelve months reveals a stable housing market in Waterloo Region. With the approaching spring market, both buyers and sellers can take comfort in the steadiness of prices we’ve seen, reinforcing the value of homeownership as a secure and prudent investment in the long run.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
