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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

Kitchener – Waterloo real estate market recap: December 2019

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In December, home sales in Kitchener-Waterloo were up 1.6% compared to December 2018.

 

Overall, it was a steadfast pace of home sales in 2019…When annual home sales in Kitchener-Waterloo hit near 6000 transactions, I consider it to be a strong real estate market.

Colleen Koehler, President of KWAR

 

 

2019 Sales Breakdown:

  • 3,590 Detached Home Sales
  • 648 Condominium Sales
  • 421 Freehold Townhouse Sales
  • 1,266 Semi-Detached Home Sales

The average sale price of all residential properties sold in December increased by 18.7% to $566,866 compared to December 2018.

Average Home Price (2019):

  • $614,743 Detached Homes
  • $332,409 Apartment Style Condominiums
  • $409,979 Townhomes
  • $439,844 Semis

The median price of all residential properties sold in 2019 increased by 10.1% to $490,000.

The number of months of inventory averaged 1.5 throughout the year, hitting its highest point in May when there was 2.1 months of supply, and ending the year at 0.7 (3-4 months supply is historically normal for Waterloo region). The average days to sell in 2019 was 23 days, compared to 24 days in 2018 and a previous 10-year average of 38 days.”

Market recap from Colleen Koehler, President of KWAR:

In 2019, the lack of supply continued to be a hurdle for anyone who was trying to buy their first home, move-up from their current residence, or downsize. This ongoing state of the market caused further escalation of home prices in 2019. With interest rates expected to stay low in the year ahead combined with Waterloo region’s ongoing growthI expect 2020 will see more price gains alongside a steady increase in sales

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/2019-market-review

Kitchener – Waterloo real estate market recap: November 2019

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In November, home sales in Kitchener-Waterloo were down 12.4% compared to November 2018.

 

“Home sales were slower in November. However, looking at the last six months of activity combined, unit sales are up four per cent over last year, and trending above average.”

Colleen Koehler, President of KWAR

 

 

November Sales Breakdown:

  • 265 Detached Home Sales
  • 46 Condominium Sales
  • 75 Freehold Townhouse Sales
  • 38 Semi-Detached Home Sales

The average sale price of all residential properties sold in November increased by 18.7% to $566,866 compared to November 2018.

Average Home Price:

  • $660,071 Detached Homes
  • $342,561 Apartment Style Condominiums
  • $443,633 Townhomes
  • $31,635 Semis

The median price of all residential properties sold in November increased by 17.6% to $516,500.

It took an average of 27 days to sell a home in November, one day down from November 2018.

Market recap from Colleen Koehler, President of KWAR:

“People moving to this area from other places is continuing to be a significant factor for our market. These buyers are selling wherever they are coming from and buying here, removing homes from the inventory but not putting anything in. This has pushed up prices by decreasing inventory while demand persists,” says Koehler. “Prices are increasing because homebuyer demand is exceeding the number of homes on the market—as we learned at our Housing Market Insight event last week—this trend will continue throughout 2020.”

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/slow-sales-big-price-gains

Kitchener – Waterloo real estate market recap: October 2019

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In October, home sales in Kitchener-Waterloo were up 4.1% compared to October 2018.

 

“Home sales were up again last month led by strong sales of detached single family properties.”

Brian Santos, President of KWAR

 

 

October Sales Breakdown:

  • 334 Detached Home Sales
  • 65 Condominium Sales
  • 108 Freehold Townhouse Sales
  • 31 Semi-Detached Home Sales

The average sale price of all residential properties sold in October increased by 9.1% to $533,288 compared to October 2018.

Average Home Price:

  • $610,840 Detached Homes
  • $333,895 Apartment Style Condominiums
  • $434,035 Townhomes
  • $461,590 Semis

The median price of all residential properties sold in October increased by 12.4% to $500,000.

It took an average of 22 days to sell a home in October, down two days from October 2018.

Market recap from Brian Santos, President of KWAR:

“Seasonal strength in October is common as people to look to make moves before Winter. With a scarcity of listings, buyers continue to snap up properties in the Kitchener-Waterloo area at a robust rate.”

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/strong-october-despite-low-inventory

Kitchener – Waterloo real estate market recap: September 2019

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In September, home sales in Kitchener-Waterloo were up 17.7% compared to September 2018.

 

This was the second strongest September for home sales we’ve had on record, and only the second time transactions exceeded 500 units in the month of September.

Brian Santos, President of KWAR

September Sales Breakdown:

  • 330 Detached Home Sales
  • 38 Condominium Sales
  • 125 Freehold Townhouse Sales
  • 33 Semi-Detached Home Sales

The average sale price of all residential properties sold in September increased by 10.2% to $541,850 compared to September 2018.

Average Home Price:

  • $612,643 Detached Homes
  • $335,110 Apartment Style Condominiums
  • $439,522 Townhomes
  • $459,588 Semis

The median price of all residential properties sold in September increased by 12.6% to $510,000.

It took an average of 22 days to sell a home in September, down two days from September 2018.

Market recap from Brian Santos, President of KWAR:

“Tight supply is the new normal…We’ve been tracking under two months of supply for over three years nowand this has put steady upward pressure on prices.

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/second-strongest-september

Kitchener – Waterloo real estate market recap: August 2019

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In August, home sales in Kitchener-Waterloo were down 9.1% compared to August 2018.

 

“The number of homes sold last month was below the average for August; however, we continue to see strong price gains across all property types.”

Brian Santos, President of KWAR

August Sales Breakdown:

  • 267 Detached Home Sales
  • 56 Condominium Sales
  • 97 Freehold Townhouse Sales
  • 39 Semi-Detached Home Sales

The average sale price of all residential properties sold in August increased by 6.4% to $524,482 compared to August 2018.

Average Home Price:

  • $615,568 Detached Homes
  • $324,778 Apartment Style Condominiums
  • $420,239 Townhomes
  • $441,802 Semis

The median price of all residential properties sold in August increased by 8.1% to $495,000.

It took an average of 26 days to sell a home in August, down two days from August 2018.

Market recap from Brian Santos, President of KWAR:

“Homes in Kitchener-Waterloo are definitely in high demand, and there is strong competition among buyers trying to find one that will suit them.”

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-ease/

Kitchener – Waterloo real estate market recap: July 2019

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In July, home sales in Kitchener-Waterloo were up 15.1% compared to July 2018.

 

“Home sales continued their strong momentum from last month.”

Brian Santos, President of KWAR

July Sales Breakdown:

  • 322 Detached Home Sales
  • 62 Condominium Sales
  • 141 Freehold Townhouse Sales
  • 42 Semi-Detached Home Sales

The average sale price of all residential properties sold in July increased by 9.3% to $521,101 compared to July 2018.

Average Home Price:

  • $613,244 Detached Homes
  • $339,137 Apartment Style Condominiums
  • $414,062 Townhomes
  • $434,136 Semis

The median price of all residential properties sold in July increased by 10.8% to $489,450.

Market recap from Brian Santos, President of KWAR:

“The temperature is matching the market we’re continuing to see strong consumer demand that is making for a busier than normal market for the middle of 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/strong-home-sales-july

Kitchener – Waterloo real estate market recap: June 2019

By Market Updates No Comments

In June, home sales in Kitchener-Waterloo were up 8.8% compared to June 2018.

 

“Home sales continued their strong momentum from last month. On a year-to-date basis we’re seeing sales have increased slightly over last year’s mid-year mark.”

Brian Santos, President of KWAR

June Sales Breakdown:

  • 404 Detached Home Sales
  • 50 Condominium Sales
  • 45 Semi-Detached Home Sales
  • 159 Freehold Townhouse Sales

The average sale price of all residential properties sold in June increased by 8.9% to $533,619 compared to June 2018.

Average Home Price:

  • $618,186 Detached Homes
  • $332,716 Apartment Style Condominiums
  • $411,126 Townhomes
  • $430,427 Semis

The median price of all residential properties sold in June increased by 9.9% to $494,500.

Market recap from Brian Santos, President of KWAR:

“We’re still in a solid seller’s market situation heading into the summer months. While more new listings are coming onto the market, strong buying demand is keeping supply tight.”

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/strong-home-sales-in-june/

Kitchener – Waterloo real estate market recap: May 2019

By Market Updates No Comments

In May, home sales in Kitchener-Waterloo were on par with May in 2018, up 7.2% compared to the previous ten-year average for May.

 

“May is often the most active month in a given year, but the way sales picked up in momentum after the Victoria Day holiday makes me think we could see sales activity in June surpass May.”

Brian Santos, President of KWAR

May Sales Breakdown:

  • 429 Detached Home Sales
  • 68 Condominium Sales
  • 60 Semi-Detached Home Sales
  • 137 Freehold Townhouse Sales

The average sale price of all residential properties sold in May increased by 10.6% to $534,348 compared to May 2018.

Average Home Price:

  • $623,289 Detached Homes
  • $332,309 Apartment Style Condominiums
  • $402,426 Townhomes
  • $432,207 Semis

The median price of all residential properties sold in May increased by 11.2% to $495,000.

Market recap from Brian Santos, President of KWAR:

“It was good to see more listings coming onto the market in May, but home buying demand continues to outpace the number of homes available…I hope to see more listing activity in June and into the summer months. With mortgage rates as low as they are—demand from buyers is bound to stay strong, making it a good time to sell your home.”

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-show-may-momentum/

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