Courtesy of Melodie Mensch

Waterloo Region Home Sales Sluggish in February, Prices Steady

$459,455 apartment UP 0.2% year-to-year

$889,280 detached UP 0.5% year-to-year

$629,734 townhouse DOWN 2.2% year-to-year

AVERAGE SALE PRICES

485 SOLD LISTINGS 800 NEW LISTINGS

detached 281

73 apartment

60.6% SALES TO NEW LISTING RATIO

23 DAYS ON MARKET

1.7 MONTHS OF INVENTORY

WATERLOO REGION, ON (MARCH 5, 2024) - In February, there were 485 homes sold through the Multiple Listing Service ® (MLS ® ) System of the Waterloo Region Association of REALTORS ® (WRAR). Total residential sales in February included 281 detached, 110 townhouses and 73 condominium units. In February, the average sale price for all residential properties in Waterloo Region was $755,934. The average price of a detached home was $889,280, up 0.5 per cent from February 2023. The average sale price for a townhouse was $629,734, down 2.2 per cent from February 2023. The average sale price for an apartment-style condominium was $459,455, up 0.2 per cent from February 2023. “Examining benchmark and average prices for various property types over the past twelve months reveals a stable housing market

in Waterloo Region,” says Christal Moura, president of WRAR. “With the approaching spring market, both buyers and sellers can take comfort in the steadiness of prices we’ve seen, reinforcing the value of homeownership as a secure and prudent investment in the long run.” There were 800 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 February was 943. At the end of February, there were 1.7 months of inventory. The average number of days to sell in February was 23. Statistics reflect market activity in February 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.

BE AWARE OF TAX TIME SCAMS With the deadline to file your 2023 tax return looming (April 30 for the majority of Canadians, or June 15 for those that are self-employed) the number of tax-related phone, email or internet scams is also on the rise. To protect yourself, you are encouraged to be extra vigilant when you’re contacted about anything tax related. From text messages asking you to click a link to accept your refund, to emails asking for your information to approve a transfer of funds, there are a lot of very clever and realistic looking scams circulating the country. Unfortunately, anyone is subject to these scams, but be extra cautious if you or those you know are new to filing taxes (teens and those new to working in Canada) or are elderly or not necessarily technologically savvy enough to be able to spot a scam. Scammers can be quite convincing and know which tactics work best to unnerve a potential victim. If you receive a communication from anyone this tax season with a link to click, demanding immediate payment for the funds you owe, asking for personal or financial information, proceed with caution. To learn more, head to the Canada Revenue Agency website where you can learn about common scams, how to protect yourself or even sign up for CRA scam alerts. Go to https://www.canada.ca/en/revenue-agency/campaigns/fraud-scams.html.

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