Last month’s home sales in Kitchener-Waterloo increased by 0.3% compared to June 2024.
“While home sales in June were relatively stable year-over-year, we’re seeing a more balanced market emerge in Waterloo Region. What’s particularly notable is the increase in condominium sales – up over 34% – suggesting a cohort of buyers looking for more affordable housing options.
While more listings are coming to market, properties are taking a little longer to sell, giving buyers more time to make informed decisions during their home search.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in June was $780,293, a decrease of 1.1% from June 2024.
Average Home Price:
- $896,770 Detached Home
- $624,754 Townhome
- $435,435 Apartment-Style Condominium
- $649,039 Semi
It took an average of 27 days to sell a home, compared to 18 days in June 2024.
“Looking at the HPI benchmark prices, we’re seeing a market that’s adjusting to changing economic conditions. While we’re experiencing some year-over-year price decreases, Waterloo Region’s market fundamentals remain strong, supported by a diversified economy and the region’s appeal as a place of residence for both families and businesses.
These market shifts underscore the importance of working with a professional REALTOR® who can provide crucial guidance on pricing strategies, market timing, and negotiation. Their expertise helps both buyers and sellers adjust their expectations and make informed decisions in this evolving market environment.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
