Last month’s home sales in Kitchener-Waterloo increased 0.2 percent compared to September 2022.
“The number of homes sold last month was very close to last year’s decade-low for the month of September. At the same time, we had a record number of new listings for the month of September.”
M Bell, President of KWAR
September Sales Breakdown:
- 302 Detached Home Sales
- 122 Townhouse Sales
- 68 Condominium Sales
- 33 Semi-Detached Home Sales
The average sale price of all residential properties sold in September is up by 0.7% to $757,753 compared to September 2022.
Average Home Price:
- $876,590 Detached Homes
- $639,816 Townhomes
- $500,092 Apartment-Style Condominiums
- $673,764 Semis
It took an average of 18 days to sell a home in September, compared to 23 days in 2022. 1,448 homes were available for sale at the end of September, an increase of 48.8% compared to September of last year.
Market recap from the President of KWAR:
“There was a significant surge of new listings in September, resulting in the largest number of homes being on the market since March 2016. For buyers with the financing to be house hunting in September, they would have found more favourable conditions in terms of supply than we have seen in a while.
WRAR recently released a report highlighting that Waterloo region’s residents are struggling under the affordability crisis, with four in ten reporting that they live in housing that is unaffordable.”
To learn more about the market and what this means for you, connect with Suzanne.
Source: kwar.ca/category/market-updates
