Cornerstone Association of Realtors put out some statistics that show a last month compared to September 2023, it shows 521 homes were sold in the region, a 2.1 per cent decrease from last year. In addition, the average sale price for all residential properties in Waterloo Region was $788,944, representing a 2.
9 per cent increase compared to last year and a 2.3 per cent increase compared to August 2024. Local realtor, Tony Johal, said they saw similar sales this September compared to last, and they’re seeing most of the change come from the townhouse category.
Stats show that the average price of a townhouse decreased by 6.9 per cent from September 2023 and the number of people buying one was down by 22.1 per cent.
Johal mentioned he thinks the decrease is to do with move inventory being added, giving buyers more options. “Now that were into the fall market, for the month of October, probably most of November we’re going to see steady traffic and if the rates do decrease, which is the word on the street, then if that happens to take place we’re going to see probably another spike in the market,” he said. About 1,313 listings were added to the MLS® System in Waterloo Region in September, a decrease of 6.
5 per cent. The stats show that more people were interested in purchasing a detached home last month, while less people went shopping for a townhouse, condo unit or semi-detached home. Johal added they are also seeing a spike in more first-time home buyers, with more.