October marks another month of strong real estate sales in Waterloo Region, with no apparent end in sight to the hot prices that have been becoming the norm.
There were 593 homes sales in the month, 11.1% fewer than October 2020 and 16.5% fewer than September 2021. The strong demand drove intense competition for this limited supply, driving the average sale price up to $841,746. This is 32.9% more than the same month in 2020 and 6.1% more than September 2021.
The average detached home is inching awfully close to the 1-million mark, coming in at $997,654, well over the strong showing this segment had in October 2020.
October had a mere 621 new listings over the month, 18.4% fewer than last year, and those listings sure didn’t last long. Taking just 10 days to sell on average, buyers had to be quick to get in on the action.
Read the full report here.
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