June 2022 Market Update

The monthly residential sales stats are in and they sure are interesting. Do you see things with the glass half full or half empty? In May, the average sale price for all residential properties in the Kitchener-Waterloo area was $875,194. This represents a 18.3 per cent increase over May 2021. However if you compare May 2022 to April 2022 prices are down 3.5 per cent. Rising interest rates are putting downward pressure on home prices. Got questions? We have answers! Always happy to help.