Average Waterloo Region home sale price dips
A 'Sold' sign sits outside a home in Waterloo. (Dan Lauckner/CTV Kitchener)
The average sale price for a home in Waterloo Region declined last month, according to the Waterloo Region Association of Realtors (WRAR).
The association said the average sale price for all residential property types in July was $795,778 – that’s down 5.2 per cent from to June but up 5.8 per cent compared to July of 2022.
“The Waterloo Region residential real estate market experienced some growth in terms of unit sales and supply in July, with home prices showing moderate fluctuations,” Megan Bell, WRAR president said in a news release.“Despite the Bank of Canada’s most recent interest rate hike, we saw more sellers coming off the sidelines with new listing activity reaching its second highest level for the month of July in over a decade.”
When it comes to detached homes, the average price dropped 8.8 per cent from June. It’s now sitting at $920,635.
Total residential sales in July included 364 detached, up 8.3 per cent from July 2022, and 120 townhouses, an increase of 7.1 per cent. Sales also included 74 condominium units, up 15.6 per cent and 44 semi-detached homes, a 22.2 per cent increase.
The number of homes sold last month increased 10 per cent compared the same month last year.
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