The first month of 2017 was record breaking, not in a good way if you are a home buyer in Waterloo Region.
Here are the numbers:
- There were only 367 listings at the end of this January. By contrast, there were 1068 in January 2016.
- Despite the low inventory, January 2017 was the busiest since January 2010. 327 properties were sold.
- The average sale price of properties sold in January 2017 was 19.7% higher than in 2016.
- The average days on the market was 22 days compared with 47 days a year ago.
- The average single detached home was $501,821. That is 22.7% higher than a year ago.