Category: Market Stats

The average sale price is calculated based on the total dollar volume of all properties sold. Months Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a Waterloo Region REALTOR®. REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe, and what to look for so that you get a complete picture of the property and community you’re considering.

WRAR cautions that average sale price information can be useful in establishing long-term trends but should not be used as an indicator that specific properties have increased or decreased in value. The MLS® Home Price Index (HPI) provides the best way to gauge price trends because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

December 5, 2023December 5, 2023Market Stats

Waterloo Region Home Sales Cool in November

“Last month, the number of homes sold followed their typical pattern of cooling to match the weather, but with consumer confidence continuing to drop, we saw sales slump to their lowest level for November in over a decade,” says Christal Moura, president of WRAR. “With many still waiting to see what happens with interest rates in the months to come, homes are taking a little longer to sell, there’s more inventory on the market, all contributing to sale prices levelling off.”

November 3, 2023November 3, 2023Market Stats

Home Sales Picked up in October but Still Subdued

“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.”

October 4, 2023October 4, 2023Market Stats

Surge of New Listings in September Against Low Number of Sales

“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.”

September 15, 2023September 15, 2023Market Stats

WRAR and RAHB Announce Intention to Amalgamate

This proposed amalgamation will combine approximately 3800 RAHB Members and 2600 WRAR Members into one organization that can better serve and represent REALTORS®. The proposed amalgamation also opens communication channels with other real estate boards whose interests may be aligned and want to strengthen their advocacy.

September 6, 2023September 6, 2023Market Stats

Soft Home Sales in August Coupled with Strong Listing Activity

“For the first time in a decade we saw sales 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.”

August 3, 2023August 3, 2023Market Stats

Strong Listing Activity in July

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.

July 6, 2023July 6, 2023Market Stats

Waterloo Region Real Estate Market Shows Resilience With Increase in Home Sales and Average Prices

“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.”

June 2, 2023Market Stats

Waterloo Region Buyer and Listing Activity Ramps Up In May

“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…”

May 4, 2023May 4, 2023Market Stats

Demand Remains Strong as Home Prices Increase Month-Over-Month

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.

April 5, 2023April 6, 2023Market Stats

Home Prices Inch Up in March as We Enter the Spring Market

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.