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
Man who set himself on fire outside Trump trial dies of injuries, police say
A man who doused himself in an accelerant and set himself on fire outside the courthouse where former U.S. President Donald Trump is on trial has died, police said.
Israeli airstrike in southern Gaza city of Rafah kills at least 9 Palestinians, including 6 children
An Israeli airstrike on a house in Gaza's southernmost city killed at least nine people, six of them children, hospital authorities said Saturday, as Israel pursued its nearly seven-month offensive in the besieged Palestinian territory.
Young people 'tortured' if stolen vehicle operations fail, Montreal police tell MPs
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
Mandisa, Grammy award-winning 'American Idol' alum, dead at 47
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.
The House is on the brink of approving aid for Ukraine and Israel after months of struggle
The House is preparing in a rare Saturday session to approve US$95 billion in foreign aid for Ukraine, Israel and other U.S. allies.
'It was joy': Trapped B.C. orca calf eats seal meat, putting rescue on hold
A rescue operation for an orca calf trapped in a remote tidal lagoon off Vancouver Island has been put on hold after it started eating seal meat thrown in the water for what is believed to be the first time.
Sask. father found guilty of withholding daughter to prevent her from getting COVID-19 vaccine
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
She set out to find a husband in a year. Then she matched with a guy on a dating app on the other side of the world
Scottish comedian Samantha Hannah was working on a comedy show about finding a husband when Toby Hunter came into her life. What happened next surprised them both.
B.C. judge orders shared dog custody for exes who both 'clearly love Stella'
In a first-of-its-kind ruling, a B.C. judge has awarded a former couple joint custody of their dog.