The Kitchener-Waterloo Real Estate Market Report – June 2017

A Welcome pullback!

Here goes the Market Report for June!

Over the past few months we have noticed a calming of the storm. The driver of this calming is definitely due to a large number of new listings on the market. I guess the memo is out and anyone thinking of selling just did that. We saw 1083 new listings in June – that is 28.7% more that June 2016.

Sales did slow versus last June by 3.2% – 716 properties were sold in June. However, year to date we are ahead versus last year by 9.1%

I’m uncertain as to whether the storm is now a little calmer and will continue or if this is just the eye and we see things heat back up into the fall. Time will tell…or a crystal ball if you have one.

June Sales Numbers:

Single detached: 467 – (down 4.3%)

Condominiums: 141 – (down 5.4%)

Semi detached: 53 – (up 15.4%)

Townhomes: 51 – (down 5.6%)

June Average prices vs June 2016

Average home price: $465,772 – (up 19.8)

Singe detached: $537,389 – (up 19.8%)

Apartment style condo: $276,443 – (up 17.6%)

Townhouse: $341,716 – (up 23.2%)

Semi detached: $380,660 – (up 28.4%)