WATERLOO REGION, ON (November 3, 2023) — In October, there were 559 homes sold through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR), representing an increase of 12.2 per cent compared to the previous year and a decline of 24.4 per cent compared to the previous 5-year average for the month.

“Homes sales in the Waterloo Region were up over last October’s record low but are still subdued,” says Megan Bell, president of WRAR. “I breathed a sigh of relief last week when the Bank of Canada held its policy rate at 5 per cent, and I will be watching to see what the Bank of Canada does at their next scheduled announcement on December 6, 2023.”

Total residential sales in October included 329 detached (up 6.1 per cent from October 2022), and 129 townhouses (up 51.8 per cent). Sales also included 64 condominium units (down 3.0 per cent) and 32 semi-detached homes (no change).

In October, the average sale price for all residential properties in Waterloo Region was $767,848. This represents a 0.6 per cent increase compared to October 2022 and a 0.1 per cent increase compared to September 2023.

• The average price of a detached home was $890,591. This represents a 1.1 per cent increase from October 2022 and an increase of 0.1 per cent compared to September 2023.
• The average sale price for a townhouse was $644,511. This represents a 1.4 per cent increase from October 2022 and an increase of 0.7 per cent compared to September 2023.
• The average sale price for an apartment-style condominium was $476,166. This represents a decrease of 2.6 per cent from October 2022 and a decrease of 4.8 per cent compared to September 2023.
• The average sale price for a semi was $658,133. This represents an increase of 5.7 per cent compared to October 2022 and a decrease of 2.4 per cent compared to September 2023.

WATERLOO REGION, ON (October 4, 2023) — In September, there were 527 homes sold through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR), representing an increase of 0.2 per cent compared to the previous year and a decline of 27.1 per cent compared to the previous 5-year average for the month.

“The number of homes sold last month was very close to last year’s decade-low for the month of September,” says Megan Bell, president of WRAR.  “At the same time, we had a record number of new listings for the month of September.”

Total residential sales in September included 302 detached (down 4.7 per cent from September 2022), and 122 townhouses (up 25.8 per cent). Sales also included 68 condominium units (up 9.7 per cent) and 33 semi-detached homes (down 34.0 per cent).

In September, the average sale price for all residential properties in Waterloo Region was $757,753. This represents a 0.7 per cent increase compared to September 2022 and a 0.3 per cent decrease compared to August 2023.

• The average price of a detached home was $876,590. This represents a 1.6 per cent increase from September 2022 and a decrease of 0.5 per cent compared to August 2023.
• The average sale price for a townhouse was $639,816. This represents no change from September 2022 and a decrease of 2.9 per cent compared to August 2023.
• The average sale price for an apartment-style condominium was $500,092. This represents an increase of 9.9 per cent from September 2022 and an increase 3.1 per cent compared to August 2023.
• The average sale price for a semi was $673,764. This represents an increase of 5.4 per cent compared to September 2022 and an increase 0.1 per cent compared to August 2023.

WATERLOO REGION, ON (September 6, 2023) — In August, there were 568 homes sold through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR), representing a decrease of 14.2 per cent compared to the previous year and a decline of 23.5 per cent compared to the previous 5-year average for the month.

“For the first time in a decade we saw August’s home sales slip under the 600-unit mark,” says Megan Bell, president of WRAR.”  “Home sales were softer than normal last month, which is not surprising given the current borrowing environment.”

Total residential sales in August included 315 detached (down 24.1 per cent from August 2022), and 134 townhouses (up 12.6 per cent). Sales also included 74 condominium units (up 10.4 per cent) and 44 semi-detached homes (down 27.9 per cent).

In August, the average sale price for all residential properties in Waterloo Region was $761,377. This represents a 1.4 per cent increase compared to August 2022 and a 4.4 per cent decrease compared to July 2023.

• The average price of a detached home was $884,390. This represents a 3.9 per cent increase from August 2022 and a decrease of 3.9 per cent compared to July 2023.
• The average sale price for a townhouse was $659,704. This represents a 8.0 per cent increase from August 2022 and a decrease of 1.7 per cent compared to July 2023.
• The average sale price for an apartment-style condominium was $485,205. This represents an increase of 4.1 per cent from August 2022 and a decrease of 2.3 per cent compared to July 2023.
• The average sale price for a semi was $669,044. This represents an increase of 2.0 per cent compared to August 2022 and a decrease of 0.3 per cent compared to July 2023.

WATERLOO REGION, ON (August 3, 2023) — In July, there were 607 homes sold through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR), representing an increase of 10.4 per cent compared to the previous year and a decline of 21.6 per cent compared to the previous 5-year average for the month.

“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,” says Bell. “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.”

Total residential sales in July included 364 detached (up 8.3 per cent from July 2022), and 120 townhouses (up 7.1 per cent). Sales also included 74 condominium units (up 15.6 per cent) and 44 semi-detached homes (up 22.2 per cent).

In July, the average sale price for all residential properties in Waterloo Region was $795,778. This represents a 5.8 per cent increase compared to July 2022 and a 5.2 per cent decrease compared to June 2023.

• The average price of a detached home was $920,635. This represents an 8.8 per cent increase from July 2022 and a decrease of 8.4 per cent compared to June 2023.
• The average sale price for a townhouse was $670,283. This represents a 4.4 per cent increase from July 2022 and an increase of 0.5 per cent compared to June 2023.
• The average sale price for an apartment-style condominium was $496,757. This represents a decrease of 4.8 per cent from July 2022 and an increase of 5.6 per cent compared to June 2023.
• The average sale price for a semi was $665,328. This represents an increase of 0.6 per cent compared to July 2022 and a decrease of 3.8 per cent compared to June 2023.

WATERLOO REGION, ON (July 6, 2023) — In June, there were 780 homes sold through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR), representing an increase of 4.6 per cent compared to the previous year and a decline of 12.3 per cent compared to the previous 5-year average for the month.

“The real estate market in Waterloo Region showed signs of a rebound in June, with monthly sales increasing on a year-over-year basis for the first time this year,” says Megan Bell, president of WRAR. “The total number of home sales are down nearly 25 per cent for the first half of 2023 compared to last year but have been steadily climbing since January.”

Total residential sales in June included 468 detached (up 5.9 per cent from June 2022), and 149 townhouses (up 4.9 per cent). Sales also included 118 condominium units (up 22.9 per cent) and 42 semi-detached homes (down 32.3 per cent).

In June, the average sale price for all residential properties in Waterloo Region was $839,869. This represents a 6.4 per cent increase compared to June 2022 and a 2.0 per cent increase compared to May 2023.

• The average price of a detached home was $1,005,519. This represents a 10.4 per cent increase from June 2022 and an increase of 4.1 per cent compared to May 2023.
• The average sale price for a townhouse was $665,984. This represents a 0.2 per cent increase from June 2022 and a decrease of 4.4 per cent compared to May 2023.
• The average sale price for an apartment-style condominium was $470,163. This represents a decrease of 6.2 per cent from June 2022 and a decrease of 3.3 per cent compared to May 2023.
• The average sale price for a semi was $691,507. This represents a decrease of 1.1 per cent compared to June 2022 and a decrease of 5.0 per cent compared to May 2023.

WATERLOO REGION, ON (June 2, 2023) — In May there were 788 homes sold through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR), representing a decrease of 10.9 per cent compared to the previous year and a decline of 12.6 per cent compared to the previous 5-year average for the month.

“The spring market is in full swing with robust buyer and listing activity observed in May,” says Megan Bell, president of WRAR. “It’s encouraging to witness a significant uptick in listing activity compared to April, and we remain optimistic that this positive momentum will carry into June. However, it’s worth noting that the number of listings being added to the MLS® System continues to be historically low.”

Total residential sales in May included 463 detached (down 17.6 per cent from May 2022), and 133 townhouses (down 10.7 percent). Sales also included 123 condominium units (up 17.1 per cent) and 67 semi-detached homes (up 1.5 per cent).

In May, the average sale price for all residential properties in Waterloo Region was $821,828 This represents a 5.6  per cent decrease compared to May 2022 and a 3.1 per cent increase compared to April 2023.

• The average price of a detached home was $964,130. This represents a 2.8 per cent decrease from May 2022 and an increase of 4.2 per cent compared to April 2023.
• The average sale price for a townhouse was $697,551. This represents a 2.4 per cent decrease from May 2022 and an increase of 5.0 per cent compared to April 2023.
• The average sale price for an apartment-style condominium was $482,926. This represents a decrease of 11.8 per cent from May 2022 and a decrease of 1.4 per cent compared to April 2023.
• The average sale price for a semi was $726,702. This represents an increase of 1.1 per cent compared to May 2022 and an increase of 5.8 per cent compared to April 2023.

WATERLOO REGION, ON (May 4, 2023) — Sales volume through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR) remained subdued last month, with 670 homes sold in April, representing a decrease of 22.0 per cent compared to April 2022 and 18.0 percent below the previous 5-year average for the month.

“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,” says Megan Bell, president of WRAR. “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.”

Total residential sales in April included 404 detached (down 22.8 per cent from April 2022), and 119 townhouses (down 20.7 per cent). Sales also included 95 condominium units (down 18.1 per cent) and 51 semi-detached homes (down 25.0 per cent).

In April, the average sale price for all residential properties in Waterloo Region was $797,716. This represents an 11.9 per cent decrease compared to April 2022 and a 2.6 per cent increase compared to March 2023.

• The average price of a detached home was $925,219. This represents a 10.7 per cent decrease from April 2022 and an increase of 1.7 per cent compared to March 2023.
• The average sale price for a townhouse was $664,519. This represents a 12.7 per cent decrease from April 2022 and an increase of 3.9 per cent compared to March 2023.
• The average sale price for an apartment-style condominium was $488,971. This represents a decrease of 18.3 per cent from April 2022 and an increase of 1.5 per cent compared to March 2023.
• The average sale price for a semi was $686,792. This represents a decrease of 10.1 per cent compared to April 2022 and a decrease of 1.9 per cent compared to March 2023.

“Sales activity was well below average in March, and while the number of homes sold is down, sale prices have increased modestly month over month,” says Megan Bell, president of WRAR. “With borrowing costs stabilizing and lenders promoting more appealing rates, I think we will see more buyers coming off the sidelines this spring, adding demand to our already popular Waterloo Region and pushing home prices up slightly.”

Total residential sales in March included 356 detached (down 39.9 per cent from March 2022), and 126 townhouses (down 29.6 per cent). Sales also included 86 condominium units (down 32.8 per cent) and 42 semi-detached homes (down 53.3 per cent).

In March, the average sale price for all residential properties in Waterloo Region was $779,017. This represents a 18.6 per cent decrease compared to March 2022 and a 2.4 per cent increase compared to February 2023.

• The average price of a detached home was $910,152. This represents a 17.4 per cent decrease from March 2022 and an increase of 2.9 per cent compared to February 2023.
• The average sale price for a townhouse was $640,484. This represents a 19.9 per cent decrease from March 2022 and a decrease of 6 per cent compared to February 2023.
• The average sale price for an apartment-style condominium was $482,882. This represents a decrease of 15.2 per cent from March 2022 and an increase of 5.3 per cent compared to February 2023.
• The average sale price for a semi was $700,208. This represents a decrease of 18.2 per cent compared to March 2022 and an increase of 4.9 per cent compared to February 2023.

WATERLOO REGION, ON (March 3, 2023) —Sales volume through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR) set a low for the month of February, with 439 homes sold, representing a decrease of 45.0 per cent compared to February 2022 and 31.5 per cent below the previous 5-year average for the month.

“Once again, we experienced record low listing sales in February,” says Megan Bell, president of WRAR. “Increased borrowing costs, coupled with a shortage of housing supply and strong demand, have put a strain on prospective buyers as affordability continues to be a top concern; however, home prices have remained stable for the past several months.”

Total residential sales in February included 256 detached (down 45.3 per cent from February 2022), and 100 townhouses (down 33.3 per cent). Sales also included 55 condominium units (down 52.6 per cent) and 28 semi-detached homes (down 56.3 per cent).

In February, the average sale price for all residential properties in Waterloo Region was $758,698. This represents a 25.1 per cent decrease compared to February 2022 and a 0.6 per cent decrease compared to January 2023.

• The average price of a detached home was $877,884. This represents a 26.0 per cent decrease from February 2022 and a decrease 0.9 per cent compared to January 2023.
• The average sale price for a townhouse was $642,777. This represents a 25.6 per cent decrease from February 2022 and an increase of 2.7 per cent compared to January 2023.
• The average sale price for an apartment-style condominium was $461,322. This represents a decrease of 19.2 per cent from February 2022 and a decrease of 6.9 per cent compared to January 2023.
• The average sale price for a semi was $667,250. This represents a decrease of 25.8 per cent compared to February 2022 and an increase of 2.6 per cent compared to January 2023.

WATERLOO REGION, ON (February 3, 2023) —The number of homes sold last month through the Multiple Listing Service® (MLS®) System of the Waterloo Region Association of REALTORS® (WRAR) totalled 297 units, a decrease of 41.9 per cent compared to January 2022 and 31.0 per cent below the previous 5-year average for the month.

“Waterloo Region’s home sales in January were at their second lowest of any single month in well over a decade,” says Megan Bell, president of WRAR. “Home sales tend to be sluggish in January, and while we expected activity to ease to reflect economic challenges, this was a larger drop than originally anticipated.”

Total residential sales in January included 176 detached (down 38.5 per cent from January 2022), and 61 townhouses (down 44.5 per cent). Sales also included 43 condominium units (down 48.2 per cent) and 17 semi-detached homes (down 46.9 per cent).

In January, the average sale price for all residential properties in Waterloo Region was $764,063. This represents a 20.1 per cent decrease compared to January 2022 and a 5.9 per cent increase compared to December 2022.

• The average price of a detached home was $888,487. This represents a 21.5 per cent decrease from January 2022 and an increase of 7.6 per cent compared to December 2022.
• The average sale price for a townhouse was $625,831. This represents a 26.1 per cent decrease from January 2022 and an increase of 2.2 per cent compared to December 2022.
• The average sale price for an apartment-style condominium was $495,753. This represents a decrease of 9.3 per cent from January 2022 and an increase of 6.1 per cent compared to December 2022.
• The average sale price for a semi was $650,588. This represents a decrease of 21.5 per cent compared to January 2022 and an increase of 5.5 per cent compared to December 2022.