Last month’s home sales in Kitchener-Waterloo decreased by 14.8% compared to November 2024.
“We saw a continued cooling of the housing market in November with sales down nearly 15 percent year-over-year and prices adjusting accordingly. While seasonal slowdowns are expected at this time of year, softer demand has contributed to higher inventory levels than we’ve seen in some time. These conditions offer a real opportunity for first-time buyers. Increased inventory and longer days on the market allow buyers to explore options thoroughly and, with their REALTOR®’s expertise, negotiate from a stronger position. The combination of Waterloo region being a highly desirable place to live and the lower interest rates makes me hopeful that buyers will be coming off the sidelines in the year ahead.”
C Moura, Cornerstone spokesperson for the Waterloo Region market area
The average sale price of all residential properties sold in November was $713,751, a 5.4% decrease from November 2024.
Average Home Price:
- $827,617 Detached Home
- $595,337 Townhome
- $422,056 Apartment-Style Condominium
- $635,375 Semi
It took an average of 39 days to sell a home, compared to 27 days in November 2024.
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
