Last month’s home sales in Kitchener-Waterloo decreased by 9.3% compared to May 2024.
“Even with home prices on the decline, a cloud of uncertainty looms over the economy, largely fueled by tariffs and lingering concerns about job security. This environment is causing potential buyers to hesitate, keeping them from making their move and entering the market. It’s not that we lack buyers or inventory; rather, consumer confidence is not at the level necessary to see stronger home sales.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in May was $789,154, a decrease of 3.6% from May 2024.
Average Home Price:
- $909,897 Detached Home
- $634,320 Townhome
- $431,944 Apartment-Style Condominium
- $652,627 Semi
It took an average of 24 days to sell a home, compared to 16 days in May 2024.
“Right now, we’re seeing a market that is different from the frenzied market of a few years ago, but that’s a good thing for buyers who have more breathing room to make decisions. The fundamentals that make Waterloo Region attractive – our diverse economy, strong tech sector, world-class educational institutes and stable governance – continue to strengthen. Waterloo Region has proven time and again that it is a solid place to invest and put down roots.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
