Real Estate Statistics – 2023 3rd Quarter Review

The quarterly real estate statistics for Waterloo Region looked a little different in the 3rd quarter this year. The Cambridge and Kitchener-Waterloo average list price was around the same as in the 2nd quarter, however a reduction in the number of sales, as well as average sale prices, bumped both areas out of a sellers market and more into a balanced or buyer’s market.

For your comparison, statistics for the rest of 2023 are linked here:

• 2023 – 2nd Quarter Real Estate Review
• 2023 – 1st Quarter Real Estate Review

Q3 – Real Estate Statistics – The Fast Facts

In these graphics we compare fast real estate statistics for Cambridge as well as Kitchener-Waterloo for the third quarter of 2023.

Note: The Cambridge area includes North Dumfries and Ayr. The Kitchener-Waterloo area includes Wilmot and Wellesley.

–

Q3 – Real Estate Statistics – Average Sale Prices

The Kitchener-Waterloo area was still on top for the average sale prices for detached homes in the 3rd quarter. Cambridge’s condos, semis and towns sold for higher amounts than their K-W counterparts. Comparing the amounts year over year, average prices were higher this year than for the same period in 2022.

–

Q3 – Real Estate Statistics – Market Status

Cambridge was able to hold onto a balanced market in the 3rd quarter of 2023 however Kitchener-Waterloo and area slipped just below into a Buyer’s Market. With over 2 months worth of inventory at the still needing to sell at the end of the quarter, this is a stark contrast to the Seller’s Market we saw at the end of Q2.

–

Want to learn what the real estate market is like in your neighbourhood?

We know that city-wide real estate statistics do not always translate to what is happening in your neighbourhood or even on your street. One of our sales representatives would be happy to crunch the numbers in your area and help you understand your home value. Give us a call at 519-653-5353 today!

And be sure to tune into our social media channels for weekly updates on real estate statistics every Friday through our Facebook, Twitter and Instagram pages.

Statistics have been compiled by R.W. Dyer Realty Inc., Brokerage through the Waterloo Region Association of REALTORS® Multiple Listing Service (MLS).