Average home sale price within Waterloo Region nearly $800k in April

Real estate 'Sold' sign

According to the most recent report released by the Waterloo Region Association of Realtors (WRAR), the average sale price for all residential properties in Waterloo Region was $797,716 in April.

This represents a 2.6 per cent increase compared to March but an 11.9 per cent decrease compared to April 2022.

“The local spring market is off to a slower than usual start with half the number of new listings hitting the market than this time last year,” said Megan Bell, president of WRAR in a news release. “However, with demand continuing to outstrip supply, we saw prices increase on a month-over-month basis as total sales volume continues to waver well below historical figures for the month of April.”

Data from WRAR shows that 670 homes were sold within the region last month through the Multiple Listing Service System. That includes 404 detached, 119 townhouses, 95 condominium units and 51 semi-detached homes.

The report states that in April within Waterloo Region:

• The average price of a detached home was $925,219.
• The average sale price for a townhouse was $664,519.
• The average sale price for an apartment-style condominium was $488,971.
• The average sale price for a semi-detached home was $686,792.

At the end of April, according to WRAR, the total number of homes for sale in active status was 703, a decrease of 25.9 per cent compared to April 2022.