June sees slight uptick in home sales in Waterloo Region

Summer has arrived and the seasonal change came hand-in-hand with some changes in the local real estate market.

The Cornerstone Association of Realtors says there were 676 homes sold in Waterloo Region through its Multiple Listing Service System in June. In May, 675 homes were sold.

The total also represents a 0.3 per cent increase compared to last June but a 21.7 per cent drop compared to the 10-year average for the month.

Condominium sales shot up 34.4 per cent year-over-year, while detached home sales rose 5.6 per cent. Townhouse sales were down 17.4 per cent and semi-detached homes declined by 25.4 per cent.

The association’s spokesperson, Christal Moura, called the numbers relatively stable and said we are seeing a more balanced real estate market emerge locally.

“While more listings are coming to market, properties are taking a little longer to sell, giving buyers more time to make informed decisions during their home search,” said Moura in a release.

There was also a slight dip of 1.1 per cent in the average sale price for all residential properties sold to $780,293.