The effects of COVID-19 on real estate in Waterloo Region was felt in the early part of the second quarter of 2020. Fewer homes sold in March and April where we saw steep declines in sales activity. This trend reversed itself completely in June, however, as sales roared back due to pent-up demand.
At no point during this period did prices decline in Cambridge or Kitchener-Waterloo. On the contrary, average sale prices are actually up an astonishing 11.8% year-over-year for freehold properties and 9.8% for condominiums.
During a worldwide pandemic homes in Waterloo Region have also been selling faster and for a greater percentage (101%) over their asking prices than a year prior.
If you have a question about these statistics or the market in general, please don’t hesitate to contact one of the R. W. Dyer Realty team!
Cambridge 2nd Quarter Review
Kitchener-Waterloo 2nd Quarter Review
Statistics have been compiled with assistance of the Cambridge Association of Realtors.