October home sales rise by 7 per cent in Waterloo Region

A real estate sign is pictured in Vancouver, B.C., Tuesday, June 12, 2018. THE CANADIAN PRESS Jonathan Hayward

In October a total of 604 homes were sold in Waterloo Region, which represents a 7 per cent increase compared to the same time last year, according to the Cornerstone Association of Realtors.

Cornerstone is an association that represents realtors severing in different markets, including Waterloo Region.

“For the first time since May, we witnessed an encouraging rise in home sales throughout Waterloo Region last month,” said Christal Moura, a spokesperson for the Waterloo Region market area, in a news release. “This positive trend reflects a shift toward more balanced conditions within our housing market and a renewed confidence among buyers.”

The 604 sales in October included 383 detached homes, up 15 per cent from the previous year.

It also included 104 townhouses, down 20 per cent, 66 condos, up 1.5 per cent, and 49 semi-detached homes, up 53 per cent.

The average sale price from all properties in October in the region was $779,008 – representing only a 1.4 per cent increase compared to the same time last year and a 1.4 decrease compared to September 2024.

The amount of new listings adding to the system last month, 1,144, was about the same in the previous year.

The average time to sell a home in October this year was 27 days compared to 21 days in October 2023.