Kitchener-Waterloo housing prices drop slightly in July, but demand still 'strong'
Housing prices dropped slightly in Kitchener-Waterloo last month, but demand remains strong amid low inventory.
The Kitchener-Waterloo Association of Realtors (KWAR) said there were 611 residential homes sold in July. Officials said that's a 17 per cent decrease from record-setting sales in July 2020, but still above-average for this month. Last July, there were 734 residential sales in Kitchener-Waterloo.
“Although home sales slowed down to some degree in July compared to June, overall demand remains very strong,” said Nicole Pohl, president of KWAR, in a news release. “The current inventory of homes available for sale in the Kitchener-Waterloo and area is extremely low, making Waterloo Region one of the most competitive markets in Ontario.”
House sales broke down into 339 detached homes, 91 condo units, 46 semi-detached homes and 135 townhouses.
The average sale price for all properties was $755,681, a 18.2 per cent increase over last July. Detached homes sold for an average of $907,192, condos had an average price of $429,630, townhouses sold for an average of $623,732, and semi-detached homes had an average sale price of $667,570.
Homes were on the market for an average of 11 days in July 2021, down from 17 days in July 2020. The five-year average for the month of July is 22 days.
CTVNews.ca Top Stories
RCMP uncovers plot to sell drones and equipment to Libya
The RCMP says it has uncovered a plot by two men in Montreal to sell Chinese drones and military equipment to Libya illegally.
Demonstrators kicked out of Ontario legislature for disruption after failed keffiyeh vote
A group of demonstrators were kicked out of the legislature after a second NDP motion calling for unanimous consent to reverse a ban on the keffiyeh failed to pass.
Tom Mulcair: Park littered with trash after 'pilot project' is perfect symbol of Trudeau governance
Former NDP leader Tom Mulcair says that what's happening now in a trash-littered federal park in Quebec is a perfect metaphor for how the Trudeau government runs things.
Man wanted in connection with deadly shooting in Toronto tops list of most wanted fugitives in Canada
A 35-year-old man wanted in connection with the murder of Toronto resident 29-year-old Sharmar Powell-Flowers nine months ago has topped the list of the BOLO program’s 25 most wanted fugitives across Canada, police announced Tuesday.
Doctors ask Liberal government to reconsider capital gains tax change
The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors' retirement savings.
Keeping these exotic pets is 'cruel' and 'dangerous,' Canadian animal advocates say
Canadian pet owners are finding companionship beyond dogs and cats. Tigers, alligators, scorpions and tarantulas are among some of the exotic pets they are keeping in private homes, which pose risks to public safety and animal welfare, advocates say.
Thieves use stolen forklift to rip cash machine out of U.K. bank
Police in the U.K. are searching for a group of suspects seen on video using a forklift to steal a cash machine from a bank.
'There was a lot of black smoke': Crane operator sounds alarm while trapped during highrise fire in Halifax
A tower crane operator alerted emergency crews after noticing a fire on a construction site in Halifax Tuesday morning.
Cherry blossoms blooming in Canada: Here's what to know
There is a swaying sea of colour in some cities across Canada, and it's a sure sign of spring: cherry blossoms are in bloom.