September brought a slight dip in overall home sales in Waterloo Region, with 521 homes sold, down 2.1% from last year. While sales have slowed, it’s not all bad news—especially for buyers! Increased inventory means more homes to choose from, making the process less stressful. Detached homes saw a 9.4% rise in sales, proving their continued appeal, and with a steady average price of $910,286, it’s a great time to invest in your dream home.
The average home price across the region was $788,944, a 2.9% increase over last year. Townhouses averaged $595,435, while condo prices hovered around $483,331. There are opportunities for buyers in every price range, whether you’re looking for a luxury estate or an entry-level property.
For sellers, patience is key. Homes are spending an average of 28 days on the market, giving buyers more time to make decisions, but Chestnut Park West can help ensure your property stands out with expert marketing strategies and tailored guidance.
Looking Ahead
Changes in federal mortgage policies and potential interest rate cuts may soon benefit both first-time buyers and those looking to upgrade. Whether you’re buying or selling, Chestnut Park West is here to guide you through the process, ensuring you find the perfect home or get top value for your current one. Reach out today to learn how we can help!
The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, Chestnut Park Realty Southwestern Ontario does not assume any responsibility or liability.
