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Market Updates

Kitchener – Waterloo real estate market recap: June 2020

By July 6, 2020No Comments

Last month home sales in Kitchener-Waterloo were up 2.1% compared to June 2019. Up 57.6% compared to May 2020.

 

After a pandemicinduced delay to the typical spring market, home sales sprung back to life in a big way in June. As Waterloo region entered stage two oreopening, we saw many buyers and sellers resuming their home buying and selling plans.

Colleen Koehler, President of KWAR

 

 

June Sales Breakdown:

  • 413 Detached Home Sales
  • 67 Condominium Sales
  • 134 Freehold Townhouse Sales
  • 59 Semi-Detached Home Sales

The average sale price of all residential properties sold in June are up by 12.8% to $601,285 compared to June 2019.

Average Home Price:

  • $698,736 Detached Homes
  • $372,392 Apartment-Style Condominiums
  • $457,851 Townhomes
  • $504,816 Semis

It took an average of 16 days to sell a home in June, compared to 20 days in June 2019.

Market recap from Colleen Koehler, President of KWAR:

I expect for the remainder of 2020 will see the number of home sales returning to near historical levels…There will be some catching up to do in the coming weeks, but I don’t think you will see the market taking a hiatus this summer.

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/june-2020-sales

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