Condo sales up by 34 per cent in Waterloo Region’s latest real estate report

A for sale sign is seen in Waterloo region. (CTV News Kitchener)

Condo sales are rising in Waterloo Region, according to the Cornerstone Association of Realtors.

The organization released its latest real estate report on Friday, highlighting a 34 per cent increase in condo sales in June compared to the year before.

Meanwhile, the sale of detached homes went up 5.6 per cent during the same timeframe, the sale of townhouses went down 17.4 per cent, and semi-detached home sales dropped 25.4 per cent.

The average cost to buy a detached home remained stable at $896,770, a 0.2 per cent year-over-year decrease.

The average price to buy a semi-detached home was also relatively unchanged at $649,039, representing a 0.5 per cent decrease.

But the price for a townhome and apartment-style condo dipped 6 per cent and 5.7 per cent, respectively. The average buyer paid $624,754 for a townhome and $435,435 for a condo.

Houses stayed on the market for an average of 27 days in June, compared to 18 days last year.