June 2019 Real Estate Review
In this month’s waterloo region real estate blog we review key stats and comment on our market trends. June 2019 followed seasonal trends with slight decreases in average sales prices, volume of units sold, and increases to average days on market in most property types. Waterloo region real estate markets experienced a decrease in months of supply across all property types.
Waterloo Region Real Estate Key Market Stats
- Average sale price across all property types in Waterloo region was $522,931 in June 2019
- All listings were on market for an average of 20 days
- Overall market supply was 1.9 months in June 2019
Single Family Homes
We cover key stats like average sale price, average days on market and months of inventory in our monthly Waterloo Region real estate blog. Below are keys stats for the single family property type as well as Condos and townhouses/semi-detached properties afterwards.
Average Sale Price: $601,604
Days on market: 19 Days
Months Supply – Inventory: 2.0 Months
For single family homes the average sale price decreased by approximately $4,000, the average days on market stayed the same at 19 days, and the months supply dropped slightly to 2 in June. Overall there are no major changes compared to May 2019 as our real estate markets follow seasonal trends. Although there were less single family homes sold from the previous month, and average sale prices fell slightly, we are still in a strong sellers market. Expect the single family market to continue to increase in value and for listings of this property type to sell quickly moving forward.
The interest in condos has gained more and more attention as redevelopment in the Waterloo, Kitchener and Cambridge transit corridor continues to make headlines. With major developments in each of these cities in Waterloo region we will continue to update our network and community on the condo market every month.
Average Sale Price: $329,370
Average Days on Market: 26 Days
Months of Inventory: 2.9 Months
The key market stats in the Waterloo region condo market revealed little surprises. In june 2019 the average sale price of a condo in Waterloo region was virtually the same. Furthermore, there was only a 0.1 months decline in the available inventory and the average days on market was 26 (compared to 28 in May 2019).
Townhouses & Semi-Detached
Check out the key stats on this market segment below! Want more information on this segment? Drop a comment or contact us here.
- Semi -Detached average sale price was $417,030
- Townhouse average sale price was $409,387
- The average days on market was approximately 19 days in June for these property types
- There was just 1.2 months of inventory in June 2019 down from 1.6 in May
In review of the key market stats for June 2019 we can say that our Waterloo Region real estate markets provided little surprises this past month. Between June and July our real estate markets typically see a slight pull back or slide down in price growth and volume of properties sold. This trend continued in 2019 with average price and number of units sold for all property types declining in June.
An important announcement was made on the key topic of affordability in June 2019. The government is planning to roll out a new first-time home buyer incentive program in September of this year. You can review the announcement the the details here: First-Time Home Buyer Incentive.
We will be releasing more information and commentary on how this will affect our local real estate markets as well as you, the buyers and sellers, as more specific information is released.