April 2024 Market Stats

In April, 692 homes were sold through the Waterloo Region Association of REALTORS® MLS® System, marking a 3.3% increase from last year and a 12.3% decline from the previous 5-year average for the same month.

Last month, the real estate market achieved balance with a slight increase in home sales, modest price shifts, and an eight-year high in the number of homes for sale, offering greater options for buyers.

Total residential sales in April included:

• 406 detached homes sold, marking a 0.5% increase from April 2023. The average price of a detached home was $938,478, reflecting a 1.4% rise from April 2023 and a 1.8% decrease from March 2024.
• 137 townhouses were sold, marking a 15.1% increase. The average sale price for a townhouse was $660,945, which was 0.5% lower than April 2023 and 0.8% lower than March 2024.
• 90 condominium units sold, marking a 5.3% decrease. The average sale price for an apartment-style condominium was $485,556, which was 1.1% lower than April 2023 and 0.5% higher than March 2024.
• 57 semi-detached homes sold, showing an 11.8% increase. The average sale price for a semi-detached home was $665,936, reflecting a 3.0% decrease from April 2023 and a 2.1% decrease from March 2024.

In April, the average sale price for all residential properties in Waterloo Region was $800,087, up 0.3% from April 2023 but down 0.7% from March 2024.

In April, Waterloo Region saw 1,443 new MLS® listings, up 65.3% from last year and 15.5% higher than the ten-year average for April. The total active listings at the end of April were 1,390, a 101.4% increase from April last year and 13.6% above the ten-year average. The average days to sell in April was 18, slightly higher than the 16 days in April 2023 and the 5-year average of 15 days.

Anticipated house price increases are set to unfold gradually over the next few months, gaining momentum when the Bank of Canada’s rate adjustments compound throughout the latter half of this year.

If you are thinking of buying or selling, or have real estate questions, contact us today!