Last month’s home sales in Kitchener-Waterloo decreased by 23.1% compared to March 2024.
“March’s housing market shows a significant shift from last year’s dynamics, with sales activity cooling while inventory levels have reached their highest point for March since 2015. This changing landscape is providing buyers with more options and time to make informed decisions.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in March was $771,915, a decrease of 4.4% from March 2024.
Average Home Price:
- $921,985 Detached Home
- $622,231 Townhome
- $457,925 Apartment-Style Condominium
- $663,145 Semi
In March, it took an average of 28 days to sell a home, compared to 24 days in March 2024.
“While both average prices and the HPI declined on a year-over-year basis, we’re seeing month-over-month price stability in most housing categories. The increased inventory, now at a 3.2-month supply, is creating a more balanced market environment compared to the tight conditions we’ve experienced in recent years. This shift is particularly evident in the condominium segment, where we now have nearly seven months of inventory available.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
