Waterloo Region ends 2024 with slight increase for home sales
Posted Jan 6, 2025 05:05:35 PM.
Last Updated Jan 7, 2025 11:08:14 AM.
The latest real estate report for Waterloo Region shows 2024 ended with a bit of an upswing for the market, but it’s still in a slump historically.
The new numbers from the Cornerstone Association of Realtors indicate there were 334 homes sold through the Multiple Listing System in December.
While the tally is an increase of 14.4 per cent from December of 2023, it’s also 9.9 per cent lower than the previous five-year average for the month.
A similar trend is also reported for the entirety of 2024.
The report says a total of 6,777 homes were sold in the region last year; a 2.8 per cent increase compared to 2023, and represents an 18.9 per cent decline compared to the annual average since 2019.
“Although the number of homes sold in 2024 was still well below long-term averages, the final three months of the year showed a significant increase in sales,” said association spokesperson, Christal Moura, in a release. “This increase coincided with lower interest rates, which heightened buyer interest and activity in the market.”
The average price for all residential properties sold in Waterloo Region in 2024 was $784,343, which is largely on par with 2023 with a marginal decrease of 0.3 per cent.
