Home prices in Waterloo Region took a dramatic dip in August as the number of houses changing hands also dropped, according to the Waterloo Region Association of Realtors.
For the second consecutive month, prices dropped in the area as the average home sold for $761,377, which is down 4.4 per cent from July, when that number was $795,778.The average cost of a detached home in July fell to $884,390, 3.9 per cent below the total in July but 3.9 per cent higher than a year earlier.
The realtors say only 568 homes were sold in August, which is 23.5 per cent below the previous five-year average.
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