Kitchener-Waterloo real estate market report | RESIDENTIAL AVERAGE TOPS $600K FOR FIRST TIME 

SPRING MARKET ARRIVES LATE, BUT COMES ON STRONG  

The number of homes sold in June increased 57.6% compared to May. 

There were 673 residential homes sold in June 2020.

This is an increase of 8.5% compared to the previous 10-year average for June.  

Total residential sales during Q2 are down 33% compared to last year. 

On a year-to-date basis, sales activity is down 15.6%.   

The average sale price of all residential properties sold in June increased 12.8% to $601,285 compared to the same month last year.

Detached homes sold for an average price of $698,736 an increase of 13.2%. 

During this same period, the average sale price for an apartment–style condominium was $372,392 for an increase of 13.2%. 

Townhomes and semis sold for an average of $457,851 (up 11.4%) and $504,816 (up 17.3%) respectively.  

The median price of all residential properties sold in June increased 14.4% to $564,000.

The median price of a detached home during the same period increased 11.9% to $650,000. 

There were 920 new listings added last month.

This is the most added in a single month since May of last year.

The total number of homes available for sale in active status at the end of June was 640, a decrease of 28.7% compared to June of last year.  

The number of Months Supply (absorption rate) continues to be very low at just 1.4 months for the month of June, 22.2% below the same period last year. 

The previous ten-year average supply of homes for June was 3.22 months, and in the past 5 years, the average supply for June was 2.22 months.  

The average days to sell in June was 16 days, compared to 20 days in June 2019.   

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KWAR

Keithmarshall.ca

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