Last month’s home sales in Kitchener-Waterloo were up 1.7% compared to December 2020.
“Home sales in 2021 have absolutely smashed last year’s record by more than 1,000 units…While this is a good time to sell your home, it remains a tremendously difficult market for buyers. Affordability for all types of housing within our community continues to be a concern which we expect to continue throughout 2022.”
M Bell, President of KWAR
December Sales Breakdown:
- 177 Detached Home Sales
- 56 Condominium Sales
- 23 Semi-Detached Home Sales
- 88 Freehold Townhouse Sales
The average sale price of all residential properties sold in December is up by 32.5% to $842,014 compared to December 2020.
Average Home Price:
- $1,021,353 Detached Homes
- $500,352 Apartment-Style Condominiums
- $717,475 Townhomes
- $770,246 Semis
It took an average of 10 days to sell a home in December, compared to 16 days in December 2020. 104 homes were available for sale at the end of December, a decrease of 45.3% compared to December of last year.
Market recap from the President of KWAR:
“Supply not keeping up with demand was a steady refrain in 2021, and unfortunately I expect that will continue to be the case in the year ahead…We need all levels of government working together to bring more supply into the housing market.”
To learn more about the market and what this means for you, connect with Suzanne.