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.