In February, home sales in Kitchener-Waterloo were up 36.5% compared to February 2019.
“After a few consecutive months of sluggish home sales, home buying activity in February was much stronger.”
Colleen Koehler, President of KWAR
February Sales Breakdown:
- 272 Detached Home Sales
- 62 Condominium Sales
- 101 Freehold Townhouse Sales
- 32 Semi-Detached Home Sales
The average sale price of all residential properties sold in February increased by 16.3% to $571,023 compared to February 2020.
Average Home Price:
- $673,825 Detached Homes
- $371,923 Apartment Style Condominiums
- $443,382 Townhomes
- $485,831 Semis
The median price of all residential properties sold in February increased by 18.2% to $550,050.
It took an average of 17 days to sell a home in February, compared to 26 days in February 2019.
Market recap from Colleen Koehler, President of KWAR:
“Like many other markets across the province, the story of our local housing market continues to be one of supply and demand. Market-wide, the number of homes available for sale is simply not keeping up with the number of people wanting to purchase a home in the Kitchener-Waterloo area.”
To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.
Find more information about the Kitchener-Waterloo real estate market here.
Source: kwar.ca/february-2020
