Courtesy of Melodie Mensch

Waterloo Region Sees Slight Sales Growth in April Alongside a Strong Increase in Homes for Sale

$485,556 apartment DOWN 1.1% year-to-year

$938,478 detached UP 1.4% year-to-year

$660,945 townhouse DOWN 0.5% year-to-year

AVERAGE SALE PRICES

692 SOLD LISTINGS 1,443 NEW LISTINGS

detached 406

90 apartment

48.0% SALES TO NEW LISTING RATIO

18 DAYS ON MARKET

2.5 MONTHS OF INVENTORY

WATERLOO REGION, ON (MAY 3, 2024) - In April, a total of 692 homes were sold via the Multiple Listing Service ® (MLS ® ) System of the Waterloo Region Association of REALTORS ® (WRAR). “The real estate market appeared to be well-balanced last month,” says Christal Moura, president of WRAR. “The market experienced a slight increase in home sales and moderate price fluctuations. Additionally, the number of homes for sale reached an eight-year high for the month of April, which translates to more available options for potential buyers.” Total residential sales in April included 406 detached, 137 townhouses, 90 condominium and 57 semi-detached homes. The average price of a detached home was $938,478. This represents a 1.4 per cent increase from April 2023. The average

sale price for a townhouse was $660,945. This represents a 0.5 per cent decrease from April 2023. The average sale price for an apartment-style condominium was $485,556. This represents a decrease of 1.1 per cent from April 2023. The average sale price for a semi was $665,936. This represents a decrease of 3.0 per cent compared to April 2023. There were 1,443 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 April was 1,390. At the end of April, there were 2.5 months of inventory. The average number of days to sell in April was 18. Statistics reflect market activity in April 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. GARAGE SALE TIPS Garage sale season is coming up and now is a great time to go through your home and select pieces you can sell at a garage (or yard) sale later this summer. As you go through the items in your home, group them by type. For instance, kitchen goods, decor items, clothes, books, games, toys, outdoor items, etc. as it will make pricing and displaying them much easier. Make sure the items you're selling are clean and in good repair. When pricing items, remember, the goal is to create space in your home by selling unwanted or unused items not to gain a profit. If you're unsure how to price a larger item, check your local buy and sell groups online to see what similar items are listed for. Remember curiosity draws people in, so place your

big-ticket items in such a way that buyers have to walk through all the other items to get to what drew them in. At the end of the sale, items that didn’t sell can be donated to a local charity or thrift store or listed on an online sale site if you so choose.

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