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Market Updates

Kitchener – Waterloo real estate market recap: July 2020

By August 7, 2020No Comments

Last month home sales in Kitchener-Waterloo were up 25.7% compared to July 2019.

 

“Competition was high for buyers looking to lock down a house in July…The rate of home sales in July resembled the kind of month we would normally see in May, and I chalk up much of that to the pent up demand that built as we moved into Stage 3 of reopening in mid-July.”

Colleen Koehler, President of KWAR

 

July Sales Breakdown:

  • 464 Detached Home Sales
  • 65 Condominium Sales
  • 153 Freehold Townhouse Sales
  • 52 Semi-Detached Home Sales

The average sale price of all residential properties sold in July were up by 22.8% to $639,814 compared to July 2019.

Average Home Price:

  • $745,149 Detached Homes
  • $392,770 Apartment-Style Condominiums
  • $465,756 Townhomes
  • $522,872 Semis

It took an average of 17 days to sell a home in July, compared to 22 days in July 2019.

Market recap from Colleen Koehler, President of KWAR:

“Homebuyers remain very confident about owning a home in Waterloo Region, and with mortgage rates still at near-record-low levels I expect we will continue to see strong home buyer demand going into the fall.

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Find more information about the Kitchener-Waterloo real estate market here.

Source: kwar.ca/july-2020-sales

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