With the turn of the month, the region is beginning to get a better look at how those prospective homeowners were faring across the Tri-Cities, with new numbers showing Cambridge was a key area of attention.
Those details, coming from Cornerstone Association of Realtors, show a hefty jump in the city for the month of June, climbing by as much as 15.2 per cent in year-over-year sales.
While the City of Cambridge, though, saw quite the climb, the numbers aren’t mirrored across the remainder of Waterloo Region.
“While sales activity in Waterloo Region picked up in June compared with the previous month, year-over-year figures show a 2.9 per cent dip, marking the slowest June on record, just nine sales short of June 2024,” said Cornerstone CEO Bill Duce.
“The number of new listings added to the market remains lower than last year, reducing months of supply in all areas except Kitchener.”
While year-over-year numbers saw a dip in the region as a whole, month-over-month numbers were fairly in line with, if not slightly below, the rest of the county, increasing by 4.3 per cent.
“Canadian home sales rose 5.5% month-over-month on a seasonally adjusted basis, the largest gain of the year, according to the Canadian Real Estate Association (CREA), which noted increasing alignment in buyer and seller expectations,” Cornerstone said in its monthly report.
“The increase, while broad-based, was driven largely by activity in Ontario. Sales were down 5.1% year-over-year on a nonseasonally adjusted basis.”
The report notes that other key areas that caught the attention of prospective homeowners included Burlington, Mississauga, Hamilton, and Norfolk County.
In some positive news for those looking to find their way into their next home, home sale prices were down year-over-year in June, dropping by 6.4 per cent and sitting at an average of $729,650.
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