No one will be too surprised to hear that the coronavirus pandemic has slowed real estate sales in the Kitchener-Waterloo market but that has not stopped prices from rising, according to local realtors.
The Kitchener-Waterloo Association of Realtors (KWAR) says home prices increased 7.3 per cent over the previous year to an average price of $568,738.
While that seems like a hefty jump considering we are in the midst of a pandemic, the prices are lower than they were in March, when numbers showed that homes were selling for $583,752 on average.
KWAR president Colleen Koehler says that while the market became more balanced in April, there has not been a drastic drop in prices. “We have witnessed some buyers expecting homes to sell at greatly