Last month’s home sales in Kitchener-Waterloo were equal to July 2024.
“While sales volumes remained stable compared to last year, we’re seeing continued price adjustments across all property types. The Bank of Canada’s decision to hold rates steady in July, combined with increased inventory and price moderation, is creating more opportunities for buyers who have been waiting to enter the market, though broader economic uncertainties surrounding the Canada-US trade war continue to impact consumer confidence.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in July was $735,082, a decrease of 6.0% from July 2024.
Average Home Price:
- $857,579 Detached Home
- $603,245 Townhome
- $415,559 Apartment-Style Condominium
- $644,930 Semi
It took an average of 32 days to sell a home, compared to 27 days in July 2024.
“The longer average days on the market reflect that we’re in a more balanced market environment. This means that buyers can take their time to make informed decisions, while sellers are adjusting their expectations to fit the current market conditions.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
