Courtesy of Melodie Mensch

Waterloo Region Housing Market Sees Cooling Trend

$462,145 apartment DOWN 1.8% year-to-year

$900,307 detached DOWN 10.3% year-to-year

$663,642 townhouse DOWN 0.6% year-to-year

AVERAGE SALE PRICES

674 SOLD LISTINGS 1,431 NEW LISTINGS

detached 424

66 apartment

47.1% SALES TO NEW LISTING RATIO

18 DAYS ON MARKET

2.7 MONTHS OF INVENTORY

WATERLOO REGION, ON (July 4, 2024) - In June, a total of 674 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). “The Waterloo Region housing market is cooling, with a year-over year decrease in home sales in June, while the number of homes for sale is rising, offering more inventory to buyers,” says Christal Moura, Cornerstone spokesperson for the Waterloo Region market area. Total residential sales in June included 424 detached, 136 town- houses, 66 condominium units, and 47 semi-detached homes. In June, the average sale price for all residential properties in Waterloo Region was $790,945. This represents a 5.8 per cent

decrease compared to June 2023. The average price of a detached home was $900,307, a 10.3 per cent decrease from June 2023. The average sale price for a townhouse was $663,642, a 0.6 per cent decrease from June 2023. The average sale price for an apartment-style condominium was $462,145, a decrease of 1.8 per cent from June 2023. There were 1,431 new listings added to the MLS® System in Waterloo Region last month. The total number of homes available

for sale in active status at the end of June was 1,790. The average number of days to sell in June was 18.

Statistics reflect market activity in June 2024 | Waterloo Region Association of REALTORS ® Market values stated are of the average of the Waterloo area. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home. Source: Cornerstone Association of REALTORS®

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