Realtor association says October home sales ‘still subdued’ in WR
Posted Nov 3, 2023 01:21:42 PM.
Last Updated Nov 3, 2023 03:08:45 PM.
There’s some mixed signals in the latest housing report from the Waterloo Region Association of Realtors (WRAR).
WRAR president, Megan Bell, said while home sales in the region were up over last October’s record-low sales, they are still subdued overall.
“I breathed a sigh of relief last week when the Bank of Canada held its policy rate at five per cent, and I will be watching to see what the Bank of Canada does at their next scheduled announcement on Dec. 6, 2023,” said Bell in a release.
The data showed there were 559 homes sold through the WRAR’s Multiple Listing Service in October, which is an increase of 12.2 per cent compared to the same time last year. However, it also represented a decline of 24.4 per cent compared to the previous five-year average for the month.
When it comes to the cost, the association said the average sale price for all residential properties was 0.6 per cent higher than last October, with the median price listed as $767,848.
