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Kitchener – Waterloo real estate market recap: October 2020

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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/

Kitchener – Waterloo real estate market recap: September 2020

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

 

“This is far more home sales then what we would normally see in September as buyers continue to play catch up from the COVID-19 hindered spring market…While the pandemic has had devastating impacts on many aspects of our lives it has only solidified the importance of home and homeownership.”

Colleen Koehler, President of KWAR

 

September Sales Breakdown:

  • 431 Detached Home Sales
  • 93 Condominium Sales
  • 178 Freehold Townhouse Sales
  • 54 Semi-Detached Home Sales

The average sale price of all residential properties sold in September was up by 17.5% to $637,691 compared to September 2019.

Average Home Price:

  • $768,762 Detached Homes
  • $390,690 Apartment-Style Condominiums
  • $476,636 Townhomes
  • $544,874 Semis

It took an average of 14 days to sell a home in September, compared to 23 days in September 2019.

Market recap from Colleen Koehler, President of KWAR:

“We saw more new listings coming to the market in September which was welcome…However, demand continues to outpace supply.”

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/september-home-sales-2020

Kitchener – Waterloo real estate market recap: August 2020

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Last month home sales in Kitchener-Waterloo were up 48% compared to August 2019.

 

“Waterloo Region has had an extremely hot market all summer…Following a spring market where most people were observing physical distancing guidelines, sales in August continued to be very active with demand continuing to outstrip supply forcing buyers to act quickly.”

Colleen Koehler, President of KWAR

 

August Sales Breakdown:

  • 433 Detached Home Sales
  • 79 Condominium Sales
  • 138 Freehold Townhouse Sales
  • 39 Semi-Detached Home Sales

The average sale price of all residential properties sold in August were up by 21% to $634,409 compared to August 2019.

Average Home Price:

  • $734,427 Detached Homes
  • $386,972 Apartment-Style Condominiums
  • $495,932 Townhomes
  • $535,330 Semis

It took an average of 16 days to sell a home in August, compared to 26 days in August 2019.

Market recap from Colleen Koehler, President of KWAR:

“This summer, local home sales rebounded from the COVID-19 slow down we had in the spring. While not as heated as July, August sales were another month for the record books, as home buyers returned to the market with renewed intensity.”

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/august-home-sales-2020

Kitchener – Waterloo real estate market recap: July 2020

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Last month home sales in Kitchener-Waterloo were up 25.7% compared to July 2019.

 

“Competition was high for buyers looking to lock down a house in July…The rate of home sales in July resembled the kind of month we would normally see in May, and I chalk up much of that to the pent up demand that built as we moved into Stage 3 of reopening in mid-July.”

Colleen Koehler, President of KWAR

 

July Sales Breakdown:

  • 464 Detached Home Sales
  • 65 Condominium Sales
  • 153 Freehold Townhouse Sales
  • 52 Semi-Detached Home Sales

The average sale price of all residential properties sold in July were up by 22.8% to $639,814 compared to July 2019.

Average Home Price:

  • $745,149 Detached Homes
  • $392,770 Apartment-Style Condominiums
  • $465,756 Townhomes
  • $522,872 Semis

It took an average of 17 days to sell a home in July, compared to 22 days in July 2019.

Market recap from Colleen Koehler, President of KWAR:

“Homebuyers remain very confident about owning a home in Waterloo Region, and with mortgage rates still at near-record-low levels I expect we will continue to see strong home buyer demand going into the fall.

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/july-2020-sales

Kitchener – Waterloo real estate market recap: June 2020

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Last month home sales in Kitchener-Waterloo were up 2.1% compared to June 2019. Up 57.6% compared to May 2020.

 

After a pandemicinduced delay to the typical spring market, home sales sprung back to life in a big way in June. As Waterloo region entered stage two oreopening, we saw many buyers and sellers resuming their home buying and selling plans.

Colleen Koehler, President of KWAR

 

 

June Sales Breakdown:

  • 413 Detached Home Sales
  • 67 Condominium Sales
  • 134 Freehold Townhouse Sales
  • 59 Semi-Detached Home Sales

The average sale price of all residential properties sold in June are up by 12.8% to $601,285 compared to June 2019.

Average Home Price:

  • $698,736 Detached Homes
  • $372,392 Apartment-Style Condominiums
  • $457,851 Townhomes
  • $504,816 Semis

It took an average of 16 days to sell a home in June, compared to 20 days in June 2019.

Market recap from Colleen Koehler, President of KWAR:

I expect for the remainder of 2020 will see the number of home sales returning to near historical levels…There will be some catching up to do in the coming weeks, but I don’t think you will see the market taking a hiatus this summer.

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/june-2020-sales

Kitchener – Waterloo real estate market recap: May 2020

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In May, home sales in Kitchener-Waterloo were down 40.5% compared to May 2019.

 

“Real estate was included as an essential service in Ontario from the outset of the COVID-19 shutdown, and Realtors have stepped up to ensure those who need to list or buy can do so safely.”

Colleen Koehler, President of KWAR

 

 

May Sales Breakdown:

  • 255 Detached Home Sales
  • 42 Condominium Sales
  • 79 Freehold Townhouse Sales
  • 43 Semi-Detached Home Sales

The average sale price of all residential properties sold in May increased by 6.5% to $568,275 compared to May 2019.

Average Home Price:

  • $657,274 Detached Homes
  • $330,336 Apartment-Style Condominiums
  • $454,197 Townhomes
  • $482,479 Semis

It took an average of 20 days to sell a home in May, compared to 19 days in May 2019.

Market recap from Colleen Koehler, President of KWAR:

“In May we saw the strong appetite for homes in the Kitchener-Waterloo area is still very much alive…But as the virus continued to circulate in the community many would-be sellers were reluctant to put their homes on the market. For the homebuyers who cannot wait out the pandemic, they are not finding any fire sales as homes are not only maintaining their value, but also increasing.”

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/may-home-sales-climb/

Kitchener – Waterloo real estate market recap: April 2020

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In April, home sales in Kitchener-Waterloo were down 63.6% compared to April 2019.

 

“It goes without saying the current pandemic has had a major impact on the number of sales we would normally see in April…With everyone doing their part to flatten the curve and doing their best to self-isolate, the buying and selling of homes have been greatly reduced.”

Colleen Koehler, President of KWAR

 

 

April Sales Breakdown:

  • 145 Detached Home Sales
  • 22 Condominium Sales
  • 44 Freehold Townhouse Sales
  • 16 Semi-Detached Home Sales

The average sale price of all residential properties sold in April increased by 7.3% to $568,738 compared to April 2020.

Average Home Price:

  • $657,042 Detached Homes
  • $367,230 Apartment-Style Condominiums
  • $406,463 Townhomes
  • $491,816 Semis

It took an average of 19 days to sell a home in April, compared to 21 days in April 2019.

Market recap from Colleen Koehler, President of KWAR:

“It has been a strong sellers’ market for the past few years with buyers competing for a scare number of listings…We have witnessed some buyers expecting homes to sell at greatly reduced amounts, and frankly, that’s simply not the case. Home values have remained stable which we expect will continue.”

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/april-home-prices-strong/

Kitchener – Waterloo real estate market recap: March 2020

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In March, home sales in Kitchener-Waterloo were up 13.1% compared to March 2019.

 

“We had a very strong start to the month which carried through right up until the province declared its COVID-19 related state of emergency on March 17th…Before the pandemic hit our region, I believe we were on pace to set a record number of sales for March with the continuance of high demand, low inventory, and a strong seller’s market.”

Colleen Koehler, President of KWAR

 

 

March Sales Breakdown:

  • 348 Detached Home Sales
  • 68 Condominium Sales
  • 136 Freehold Townhouse Sales
  • 25 Semi-Detached Home Sales

The average sale price of all residential properties sold in March increased by 15.3% to $583,752 compared to March 2020.

Average Home Price:

  • $679,728 Detached Homes
  • $378,443 Apartment-Style Condominiums
  • $457,547 Townhomes
  • $492,752 Semis

The median price of all residential properties sold in March increased by 14.6% to $544,500.

It took an average of 15 days to sell a home in March, compared to 21 days in March 2019.

Market recap from Colleen Koehler, President of KWAR:

“Of course, what is on everyone’s mind is the Coronavirus, and how this global pandemic is impacting every facet of our lives. The Ontario government included real estate services, legal and land registry as an essential service, but by no means is this business as usual for Realtors or their clients…As people everywhere follow instructions to only leave their homes for essential reasons, this is impacting the number of showings, and how properties are shown. Not everyone is in the position to postpone the purchase or sale of their home, and Realtors are adapting the technology we already use to serve our clients in this new environment and rigidly following Health Canada’s guidelines.”

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/home-sales-march-2020/

Kitchener – Waterloo real estate market recap: February 2020

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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

Kitchener – Waterloo real estate market recap: January 2020

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In January, home sales in Kitchener-Waterloo were down 8.2% compared to January 2019.

 

“For the third consecutive month sales were down in January…Slower January sales are a result of fewer homes being put up for sale. This is causing further price acceleration as we have enough willing and able home buyers contending for those few homes that are available.”

Colleen Koehler, President of KWAR

 

 

January Sales Breakdown:

  • 153 Detached Home Sales
  • 39 Condominium Sales
  • 68 Freehold Townhouse Sales
  • 21 Semi-Detached Home Sales

The average sale price of all residential properties sold in January increased by 15.7% to $561,029 compared to January 2020.

Average Home Price:

  • $670,944 Detached Homes
  • $382,636 Apartment Style Condominiums
  • $439,765 Townhomes
  • $484,190 Semis

The median price of all residential properties sold in January increased by 17.3% to $536,000.

It took an average of 22 days to sell a home in January, compared to 27 days in January 2019.

Market recap from Colleen Koehler, President of KWAR:

“Consumers can’t buy what’s not there. The available number of homes for sale, or lack thereof, continued to evade home buyers in January…There is no doubt we would be reporting more sales if we had the inventory to match the demand.”

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/january-2020

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