Last month’s home sales in Kitchener-Waterloo decreased by 13.7% compared to June 2023.
“The Waterloo Region housing market is cooling, with a year-over-year decrease in home sales in June, while the number of homes for sale is rising, offering more inventory to buyers.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in June was $790,945, down 5.8% from June 2023.
Average Home Price:
- $900,307 Detached Home
- $663,642 Townhome
- $462,145 Apartment-Style Condominium
- $649,353 Semi
It took an average of 18 days to sell a home in June, compared to 15 days in June 2023.
“The average selling price for residential properties has decreased by 5.8 per cent since June 2023, with detached homes showing the most significant drop at 10.3 percent. This indicates a broader softness in the market. The silver lining is this presents a more favourable pricing environment for buyers, with more choices, greater flexibility, and the potential to negotiate better deals.”
C Moura
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
