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Market Updates

Kitchener – Waterloo Real Estate Market Recap: May 2021

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Last month home sales in Kitchener-Waterloo were up 100.9% compared to May 2020.

 

“While last May home sales were restrained due to the pandemic, May 2021 was another extraordinary month of home buying and selling activity.”

N Pohl, President of KWAR

May Sales Breakdown:

  • 485 Detached Home Sales
  • 106 Condominium Sales
  • 74 Semi-Detached Home Sales
  • 188 Freehold Townhouse Sales

The average sale price of all residential properties sold in May is up by 30.4% to $740,103 compared to May 2020.

Average Home Price:

  • $868,990 Detached Homes
  • $457,935 Apartment-Style Condominiums
  • $601,987 Townhomes
  • $659,975 Semis

It took an average of 9 days to sell a home in May, compared to 21 days in May 2020. 448 homes were available for sale at the end of April, a decrease of 21.0% compared to May of last year.

Market recap from the President of KWAR:

“Last month the market took a breath and calmed a bit, but there is still very strong demand throughout our region…This started prior to the new mortgage stress test that came into effect on June 1. While these changes will impact the affordability for some, I do not expect it to be very impactful due to the sheer number of buyers in our market.”

To learn more about the market and what this means for you, connect with Suzanne.

Source: kwar.ca/category/market-updates

Kitchener – Waterloo Real Estate Market Recap: April 2021

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Last month home sales in Kitchener-Waterloo were up 263.4% compared to April 2020.

 

“The previous 10-year average number of residential sales for April was 618.”

N Pohl, President of KWAR

April Sales Breakdown:

  • 484 Detached Home Sales
  • 111 Condominium Sales
  • 67 Semi-Detached Home Sales
  • 181 Freehold Townhouse Sales

The average sale price of all residential properties sold in April is up by 34.3% to $757,906 compared to April 2020.

Average Home Price:

  • $899,315 Detached Homes
  • $441,887 Apartment-Style Condominiums
  • $612,550 Townhomes
  • $652,609 Semis

It took an average of 9 days to sell a home in April, compared to 19 days in April 2020. 458 homes were available for sale at the end of April, a decrease of 21.8% compared to April of last year.

Market recap from the President of KWAR:

“We are starting to see home prices calm down in March and April compared to what was happening in January and February.”

To learn more about the market and what this means for you, connect with Suzanne.

Source: kwar.ca/category/market-updates

Kitchener – Waterloo Real Estate Market Recap: March 2021

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Last month home sales in Kitchener-Waterloo were up 72.7% compared to March 2020.

 

“This is the first time we’ve sold more than 900 homes in a single month.”

N Pohl, President of KWAR

 

March Sales Breakdown:

  • 593 Detached Home Sales
  • 124 Condominium Sales
  • 79 Semi-Detached Home Sales
  • 197 Freehold Townhouse Sales

The average sale price of all residential properties sold in March is up by 30.8% to $765,393 compared to March 2020.

 

In addition to the record number of sales in March, we also had a record number of newly listed properties come on the market. The number of new listings last month was the most of any month, and the highest number since May of 2017 when there were 1,271 new listings.

 

Average Home Price:

  • $910,126 Detached Homes
  • $415,322 Apartment-Style Condominiums
  • $609,566 Townhomes
  • $684,787 Semis

It took an average of 8 days to sell a home in March, compared to 16 days in March 2020. 434 homes were available for sale at the end of March, a decrease of 23.5% compared to March of last year.

To learn more about the market and what this means for you, connect with Suzanne.


Source: kwar.ca/category/market-updates

Kitchener – Waterloo Real Estate Market Recap: February 2021

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Last month home sales in Kitchener-Waterloo were up 27.8% compared to February 2020.

 

“Competition for homes continued to be extremely intense in February, leading to a record-breaking number of home sales for the month.”

N Pohl, President of KWAR

 

February Sales Breakdown:

  • 337 Detached Home Sales
  • 101 Condominium Sales
  • 47 Semi-Detached Home Sales
  • 112 Freehold Townhouse Sales

The average sale price of all residential properties sold in February is up by 32.1% to $752,289 compared to February 2020.

 

We continued to see dramatic increases in the average price in February due to the persistent and fierce competition for homes in our region combined with short supply.

Buyers are very frustrated competing in this hyperactive market. The low inventory and mortgage rates are resulting in multiple offers, higher prices and creating a fear they are missing out on the chance to become homeowners in this unprecedented market.

 

Average Home Price:

  • $910,126 Detached Homes
  • $415,322 Apartment-Style Condominiums
  • $609,566 Townhomes
  • $684,787 Semis

It took an average of 10 days to sell a home in February, compared to 17 days in February 2020. 295 homes were available for sale at the end of February, a decrease of 33.6% compared to February of last year.

Market recap from the President of KWAR:

“We continued to see dramatic increases in the average price in February due to the persistent and fierce competition for homes in our region combined with short supply.”

To learn more about the market and what this means for you, connect with Suzanne.

Source: kwar.ca/category/market-updates

How’s The Market?

By Buying A Home, Market Updates No Comments

Unless you have been following the real estate stats exceptionally closely, you might feel completely confused and perhaps overwhelmed by the pandemic’s impact on our local real estate market.

Three market highlights

  1. There is virtually no inventory.

  2. There are a ton of buyers.

  3. Properties are selling way over list price.

So what is a buyer to do? If you are considering making a move or know someone who needs some good advice, get in touch with Suzanne at Real Appeal Homes to help guide you through this challenging real estate market.

What Is Worth A Million Dollars Today?

By Market Updates, Sell Your Home No Comments

Is it just me, or does a million dollars not buy what it used to? The January stats for the KW area announced that the average sale price for a detached property was $853,945.

For the average house (3 bedrooms, 1500 sq feet, single garage in a nice neighbourhood), these prices are escalating so quickly that most buyers and real estate agents need to reframe what a million-dollar home may look like.

If you are interested in finding out how to cash out in this market, get in touch with Suzanne at Real Appeal Homes.

Kitchener – Waterloo Real Estate Market Recap: January 2021

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Last month home sales in Kitchener-Waterloo were up 25% compared to January 2020.

 

“January’s home sales were more active than what we typically see this time of year…But nothing has been typical about our housing market.”

N Pohl, President of KWAR

 

January Sales Breakdown:

  • 201 Detached Home Sales
  • 71 Condominium Sales
  • 21 Semi-Detached Home Sales
  • 56 Freehold Townhouse Sales

The average sale price of all residential properties sold in January was up by 24% to $695,582 compared to January 2020.

 

The average price of a detached home hit a new milestone by exceeding 800-thousand-dollars for the first time, coming in at $853,945 an increase of 27.3 per cent.

Average Home Price:

  • $853,945 Detached Homes
  • $383,196 Apartment-Style Condominiums
  • $566,345 Townhomes
  • $626,512 Semis

It took an average of 16 days to sell a home in January, compared to 22 days in January 2020.

Market recap from the President of KWAR:

“With demand for homes unabated and consumer preferences leaning predominantly toward single detached homes, in January we saw buyers paying a premium for this property type…Conversely, even as condo sales were increasing in January, we saw prices for this style of housing soften by comparison.”

To learn more about the market and what this means for you, connect with Suzanne.

Source: kwar.ca/category/market-updates

Kitchener – Waterloo Real Estate Market Recap: December 2020

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Last month home sales in Kitchener-Waterloo were up 42% compared to December 2019.

 

“December’s home sales were the highest on record for the month. This marks the sixth consecutive month of record home sales in Kitchener-Waterloo and helps propel 2020’s annual number of transactions over the 6,000-unit threshold for only the third time in our history.”

N Pohl, President of KWAR

 

December Sales Breakdown:

  • 204 Detached Home Sales
  • 63 Condominium Sales
  • 64 Freehold Townhouse Sales
  • 20 Semi-Detached Home Sales

The average sale price of all residential properties sold in December was up by 14% to $634,545 compared to December 2019.

Average Home Price:

  • $755,618 Detached Homes
  • $383,196 Apartment-Style Condominiums
  • $514,760 Townhomes
  • $574,659 Semis

It took an average of 16 days to sell a home in 2020, compared to 23 days in 2019.

Market recap from the President of KWAR:

“Even well before the pandemic we had noted a trend of consumers migrating out of the GTA to our region. As the pandemic heated up it only fueled this fire more as the very concept of what home means was shifting. With more people working from home, some permanently, space has become a greater concern than ever before. When you combine this with all the other great attributes of our region, it is no surprise this occurred.”

To learn more about the market and what this means to you, connect with Suzanne.

Source: kwar.ca/category/market-updates

Kitchener – Waterloo real estate market recap: November 2020

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Last month home sales in Kitchener-Waterloo were up 35% compared to November 2019.

 

“We are now well beyond any pent-up demand from the first lockdown…Now we’re simply dealing with straight-up demand for our community as an attractive place to put down roots, and the current COVID-19 pandemic is only further fuelling the already hot market and elevating Waterloo region as a desirable place to own a home.”

Colleen Koehler, President of KWAR

 

November Sales Breakdown:

  • 341 Detached Home Sales
  • 82 Condominium Sales
  • 112 Freehold Townhouse Sales
  • 40 Semi-Detached Home Sales

The average sale price of all residential properties sold in November was up by 13% to $637,336 compared to November 2019.

Average Home Price:

  • $753,641 Detached Homes
  • $400,882 Apartment-Style Condominiums
  • $482,901 Townhomes
  • $562,988 Semis

It took an average of 14 days to sell a home in November, compared to 28 days in November 2019.

Market recap from Colleen Koehler, President of KWAR:

“The only other time I’ve seen the sale to list ratio this high was in May of 2017 when it hit 108.6 per cent…The number of available properties going up for sale simply can’t keep up to the number of people wanting to purchase them.”

To learn more about the market and what this means to you, connect with Suzanne.

Find more information about the Kitchener-Waterloo real estate market here.

Source: https://kwar.ca/record-setting-november/

Kitchener – Waterloo real estate market recap: October 2020

By Market Updates No Comments

Last month home sales in Kitchener-Waterloo were up 42% compared to October 2019.

 

“This is the fourth month in a row we have set a monthly record number of home sales…Demand for homes in October continued to strongly outpace supply in Kitchener-Waterloo and area.”

Colleen Koehler, President of KWAR

 

October Sales Breakdown:

  • 417 Detached Home Sales
  • 94 Condominium Sales
  • 134 Freehold Townhouse Sales
  • 46 Semi-Detached Home Sales

The average sale price of all residential properties sold in October was up by 19.4% to $635,301 compared to October 2019.

Average Home Price:

  • $742,596 Detached Homes
  • $395,627 Apartment-Style Condominiums
  • $499.641 Townhomes
  • $539,434 Semis

It took an average of 13 days to sell a home in October, compared to 23 days in October 2019.

Market recap from Colleen Koehler, President of KWAR:

“While our association does not track where buyers are coming through the MLS® System, I can say unequivocally we are seeing strong demand from GTA buyers. What people want and need in a home, and where they want to be located has been redefined in a very short period. Waterloo region is quite rightly, a highly desirable place to own a home.”

To learn more about the market and what this means to you, connect with Suzanne.

Find more information about the Kitchener-Waterloo real estate market here.

Source: https://kwar.ca/record-setting-october/