Market Updates

Last month’s home sales in Kitchener-Waterloo were down 32.1% compared to September 2020.

“While the total number of homes sold last month was down considerably compared to last September, it can still be considered an above average month of activity when we remember that last September smashed any previous September for number of sales…In fact, I would say we are on track for setting a record number of annual sales in 2021.”

N Pohl, President of KWAR

September Sales Breakdown:

• 267 Detached Home Sales
• 83 Condominium Sales
• 41 Semi-Detached Home Sales
• 115 Freehold Townhouse Sales

The average sale price of all residential properties sold in September is up by 24.2% to $792,599 compared to September 2020.

Average Home Price:

• $963,646 Detached Homes
• $497,949 Apartment-Style Condominiums
• $646,026 Townhomes
• $686,316 Semis

It took an average of 10 days to sell a home in September, compared to 14 days in September 2020. 345 homes were available for sale at the end of September, a decrease of 35.3% compared to September of last year.

Market recap from the President of KWAR:

“Home prices reached all new highs in September…And while there is a growing call to add more transparency to how real estate is traded in Ontario —the brutal reality of this market is that supply is simply not keeping up with demand and that is what is driving up prices.”

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

Source: kwar.ca/category/market-updates

Last month’s home sales in Kitchener-Waterloo were down 22.1% compared to August 2020.

“The main reason for the decrease is simply that last month was the first full month in Step 3 of the reopening, and people were tired of the lockdown…They got out and enjoyed their summer and shifted their real estate needs to the back burner for a much-needed change of focus.”

N Pohl, President of KWAR

August Sales Breakdown:

• 299 Detached Home Sales
• 80 Condominium Sales
• 38 Semi-Detached Home Sales
• 118 Freehold Townhouse Sales

The average sale price of all residential properties sold in August is up by 19.3% to $753,296 compared to August 2020.

Average Home Price:

• $895,756 Detached Homes
• $445,280 Apartment-Style Condominiums
• $623,767 Townhomes
• $683,048 Semis

It took an average of 12 days to sell a home in August, compared to 17 days in August 2020. 255 homes were available for sale at the end of August, a decrease of 53.6% compared to August of last year.

Market recap from the President of KWAR:

“The number of homes coming to market continues to be overwhelmed by the number of homebuyers we have wanting to purchase in Waterloo Region.”

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

Source: kwar.ca/category/market-updates

Last month’s home sales in Kitchener-Waterloo were down 17% compared to July 2020–still above-average for sales for the month of July.

“Although home sales slowed down to some degree in July compared to June, overall demand remains very strong…The current inventory of homes available for sale in the Kitchener-Waterloo and area is extremely low, making Waterloo Region one of the most competitive markets in Ontario.”

N Pohl, President of KWAR

July Sales Breakdown:

• 339 Detached Home Sales
• 91 Condominium Sales
• 46 Semi-Detached Home Sales
• 135 Freehold Townhouse Sales

The average sale price of all residential properties sold in July is up by 18.2% to $755,681 compared to July 2020.

Average Home Price:

• $907,192 Detached Homes
• $429,630 Apartment-Style Condominiums
• $623,732 Townhomes
• $667,570 Semis

It took an average of 11 days to sell a home in July, compared to 17 days in July 2020. 281 homes were available for sale at the end of July, a decrease of 52.7% compared to July of last year.

Market recap from the President of KWAR:

“The housing market took a bit of a breather last month. July is typically a quieter month with families taking vacation, and with the region coming out of lockdown there were certainly more staycations happening. But we do anticipate the market will pick up steam again and it will be another busy fall.”

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

Source: kwar.ca/category/market-updates

Last month home sales in Kitchener-Waterloo were up 10.1% compared to June 2020.

“The number of homes sold in the Kitchener-Waterloo area these past 6 months surpasses any previous 6 months of activity through our MLS® System…Since the beginning of the year, we have reported 4,393 home sales in Kitchener-Waterloo and area, which is remarkable.”

N Pohl, President of KWAR

June Sales Breakdown:

• 411 Detached Home Sales
• 103 Condominium Sales
• 74 Semi-Detached Home Sales
• 152 Freehold Townhouse Sales

The average sale price of all residential properties sold in June is up by 26.4% to $759,115 compared to June 2020.

Average Home Price:

• $919,914 Detached Homes
• $445,493 Apartment-Style Condominiums
• $590,980 Townhomes
• $647,918 Semis

It took an average of 11 days to sell a home in June, compared to 17 days in June 2020. 365 homes were available for sale at the end of June, a decrease of 43% compared to June of last year.

Market recap from the President of KWAR:

“The greatest challenge of the housing market continues to be the limited supply of existing homes to purchase…What we could use right now is for more homes to get built to help meet the robust buyer demand which continues to exceed supply.”

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

Source: kwar.ca/category/market-updates

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 May, 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

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

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

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