The weather wasn't as hot, and neither was the real estate market in Waterloo Region.
According to statistics released Thursday by the Kitchener-Waterloo Association of Realtors, sales in July were down 17 per cent compared to the same month last year. Just over 600 residential homes sold.
“Although home sales slowed down to some degree in July compared to June, overall demand remains very strong,” explained Nicole Pohl, who's the association's president.
“The current inventory of homes available for sale in the Kitchener-Waterloo and area is extremely low, making Waterloo Region one of the most competitive markets in Ontario.” Pohl added.
The average price for a detached home was over $907,000 --- which is almost a 22 per cent increase over July 2020. Townhouses saw the biggest increase at over 33 per cent, with the average price now almost $624,000.
Below is the breakdown of sales for July:
- 339 detached homes --- down 27.1 per cent
- 135 townhouses --- down 11.8 per cent
- 91 condos --- up 30 per cent
- 46 semi-detached ---down 4.2 per cent