A decrease in inventory in Cambridge has allowed prices to remain strong despite declining market activity levels. The number of new listings dropped 7.5% and number of sales declined 8.6% while the average home price gained some ground. Up 5.89% over this time last year currently our average home price in Cambridge is now sitting at $300,394.
In contrast to Cambridge’s declining inventory levels, Kitchener’s residential market is continuing to experience a slight increase in supply and year to date has shown a modest 1.86% increase in the average sale price, bringing it to 273,121.
Waterloo is continuing to experience an elevated supply of inventory with new listings up 14% year to date over last year and number of sales down by 1.5%. We are attributing this largely to the implementation of the rental property licensing by-law. Fortunately, thus far prices have remained stable; the average sale price in Waterloo currently sits at 325,738, up 2.38% over the same period of last year which is in line with the rest of the region.
Below you will find a link to a pdf copy of our market reports for the tri-cities. If you have any questions please call or email us anytime.
October 2012
Click here for our archived reports.
For a more detailed report on a particular neighbourhood, please email us anytime.