In May, a total of 675 homes were sold in the Waterloo Region via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone). This represents a 9.3 per cent decrease compared to the same period last year and a decline of 26.2 per cent compared to the average number of homes sold in the previous ten years for the same month.
“The Waterloo Region housing market is cooling, with a year-over-year decrease in home sales in June, while the number of homes for sale is rising, offering more inventory to buyers,” says Christal Moura, Cornerstone spokesperson for the Waterloo Region market area.”
“May saw a dip in the number of sales across all categories, with condo apartments experiencing the largest drop,” says Christal Moura, president of WRAR. “The Condo market also had the greatest supply level, posing a challenge for sellers, especially for units with one or fewer bedrooms, where the current inventory level is exceeding buyer demand.”
“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…”
