There were 561 residential homes sold through the Multiple Listing Service® System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in June, a decrease of 24.0 per cent compared to the same month last year, and 17.3 per cent below the previous 5-year average.

“For the fourth consecutive month we’re seeing home prices moderate as the number of properties available for sale has steadily increased” says Megan Bell, President of KWAR. “In June the average price of a detached home has levelled off to where it was this time last year.”

Total residential sales in June included 326 detached (down 20.7 per cent from June 2021), and 103 townhouses (down 32.2 per cent). Sales also included 84 condominium units (down 18.4 per cent) and 48 semi-detached homes (down 33.3 per cent).

In June, the average sale price for all residential properties in the Kitchener-Waterloo area was $791,674. This represents a 4.2 per cent increase over June 2021 and a 9.6 per cent decrease compared to May 2022.