How’s The Market?
Monthly Market Statistics by City
March 2024
(Average Price)
GUELPH
Condos - $596,983
Townhomes - $711,961
Detached Homes - $919,337
WATERLOO
Condos - $534,496
Townhomes - $692,993
Detached Homes - $1,017,814
KITCHENER
Condos - $426,220
Townhomes - $642,276
Detached Homes - $946,260
CAMBRIDGE
Condos - $570,423
Townhomes - $677,582
Detached Homes - $854,527
Factors That Effect the Real Estate Market
SUPPLY
As the number of homes for sale (both new and resale) increase, the heightened inventory on market grants buyers more selection and gives them leverage such that overall prices decrease if demand remains the same.
DEMAND
When demand increases, the market gets more competitive for buyers and the price of homes rise.
INTEREST RATES
When interest rates rise, the price of homes decline as buyers purchasing power and affordability is reduced.
INFLATION
When inflation rises, Central Banks typically respond by raising interest rates to cool the economy and flattened rising prices.
UNEMPLOYMENT
Unemployment is a main indicator of economic stability - low unemployment leads to a healthy and robust economy with increased spending on goods and housing while, high unemployment leads to less demand for housing due to a lack of affordability.
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