fbpx
Category

Market Updates

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/

Kitchener – Waterloo real estate market recap: April 2019

By Market Updates No Comments

In April, there was a 1.1% increase in home sales compared to April in 2018, up 2.2% compared to the previous ten-year average for April.

 

“While sales of detached homes did jump a fair bit compared to the same month last year, they were actually on par with the previous 10-year average for April.”

Brian Santos, President of KWAR

April Sales Breakdown:

  • 394 Detached Home Sales
  • 75 Condominium Sales
  • 113 Semi-Detached Home Sales
  • 41 Freehold Townhouse Sales

The average sale price of all residential properties sold in April increased by 10.9% to $529,800 compared to April 2018.

Average Home Price:

  • $611,803 Detached Homes
  • $339,426 Apartment Style Condominiums
  • $405,013 Townhomes
  • $433,949 Semis

The median price of all residential properties sold in April increased by 11.4% to $490,000.

Market recap from Brian Santos, President of KWAR:

“These are the highest sale prices we’ve ever posted in a single month. It’s only the third time the overall residential sale price has exceeded half a million, and for the first time, the average price of a detached home climbed over the 600-thousand-dollar mark.”

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-sales-up-over-last-year

Kitchener – Waterloo real estate market recap: March 2019

By Market Updates No Comments

In March, there was a 5.7% decrease in home sales compared to March in 2018, down 7% compared to the previous ten-year average for March.

 

“The average number of sales in March was brought down by fewer semi-detached, townhomes and condos. I think this can be credited to the lack of inventory and options buyers have in those segments of the market.”

Brian Santos, President of KWAR

March Sales Breakdown:

  • 325 Detached Home Sales
  • 45 Condominium Sales
  • 116 Semi-Detached Home Sales
  • 25 Freehold Townhouse Sales

The average sale price of all residential properties sold in March increased by 3.4% to $505,855 compared to March 2018.

Average Home Price:

  • $585,668 Detached Homes
  • $320,857 Apartment Style Condominiums
  • $372,003 Townhomes
  • $422,360 Semis

The median price of all residential properties sold in March increased by 3.9% to $474,900.

Market recap from Brian Santos, President of KWAR:

“Sale prices across Kitchener-Waterloo and area experienced increases in March…While pundits are focussing on affordability challenges, this also reflects the greater attribute of livability and how Waterloo Region offers a great quality of life.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/home-sales-slide-in-march/

Kitchener – Waterloo real estate market recap: February 2019

By Market Updates No Comments

In February, there was an 8.3% decrease in home sales compared to February in 2018.

 

“The series of winter storms in February not only kept buyers indoors and off the roads, but also away from open houses and viewings…This was the lowest amount of sales we’ve seen in February in a long time, but it really isn’t surprising given the wild weather we experienced last month.”

Brian Santos, President of KWAR

February Sales Breakdown:

  • 178 Detached Home Sales
  • 105 Condominium Sales
  • 23 Semi-Detached Home Sales
  • 36 Freehold Townhouse Sales

The average sale price of all residential properties sold in February increased by 3% to $490,668 compared to February 2018.

Average Home Price:

  • $597,965 Detached Homes
  • $319,536 Apartment Style Condominiums
  • $395,331 Townhomes
  • $448,123 Semis

The median price of all residential properties sold in February increased by 6.9% to $465,000.

Market recap from Brian Santos, President of KWAR:

“Despite the chill we saw in the number of sales last month, the price gains reflect that 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.

Source: kwar.ca/frigid-february-home-sales

Kitchener – Waterloo real estate market recap: January 2019

By Market Updates No Comments

In January, there was a 14.6% increase in home sales compared to January in 2018.

 

“January was surprisingly busy with an above average number of home sales.”

Brian Santos, President of KWAR

January Sales Breakdown:

  • 189 Detached Home Sales
  • 80 Condominium Sales
  • 20 Semi-Detached Home Sales
  • 17 Freehold Townhouse Sales

The average sale price of all residential properties sold in January increased by 5.3% to $484,076 compared to January 2018.

Average Home Price:

  • $564,718 Detached Homes
  • $303,379 Apartment Style Condominiums
  • $368,227 Townhomes
  • $407,852 Semis

The median price of all residential properties sold in January increased by 5.3% to $455,000.

Market recap from Brian Santos, President of KWAR:

“It was a positive sign to see an uptick in the number of residential listings hitting the MLS® system last month. However, the total number of homes available for sale continues to perform well below historical averages.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/january-home-sales-up

Kitchener – Waterloo real estate market recap: December 2018

By Market Updates No Comments

In December, there was an 11.1% decrease in home sales compared to December in 2017.

“The combination of rising interest rates and the mortgage stress test definitely took some steam out of the market relative to what we saw in the previous two years.”

Brian Santos, President of KWAR


The average sale price of all residential properties sold in December decreased by 13.2% compared to 2017.

Average Home Price In 2018:

  • $575,412 Detached Homes
  • $304,676 Apartment Style Condominiums
  • $373,307 Townhomes
  • $396,391 Semis

The median price of all residential properties sold in 2018 increased by 3.6% to $445,304.

Market recap from Brian Santos, President of KWAR:

“2018 continued to be a seller’s market in the region with stable sales activity and homeowners realizing solid gains in their property values.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/kw-home-sales-2018

Kitchener – Waterloo real estate market recap: November 2018

By Market Updates No Comments

In November, there was a 14.2% increase in home sales compared to November in 2017.

 

“For the second straight month we are reporting stronger than average sales.”

Brian Santos, President of KWAR

 

November Sales Breakdown:

  • 265 Detached Home Sales
  • 152 Condominium Sales
  • 27 Semi-Detached Home Sales
  • 31 Freehold Townhouse Sales

The average sale price of all residential properties sold in November increased by 7.6% to $477,526 compared to November 2017.

Average Home Price:

  • $580,551 Detached Homes
  • $305,334 Apartment Style Condominiums
  • $361,177 Townhomes
  • $416,878 Semis

The median price of all residential properties sold in November increased by 6.3% to $443,800.

Market recap from Brian Santos, President of KWAR:

“Affordability is a concern in Waterloo Region as we continue to see prices increase, especially for detached homes. While we believe this is more a reflection of our region being ‘discovered’ by buyers from the GTA, it is resulting in more entry-level clients pursuing condominiums and townhomes.  Combined with an ongoing tight supply of listings buyers are facing continued upward pressure on sale prices in the region.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/november-sales-second-best/

Kitchener – Waterloo real estate market recap: October 2018

By Market Updates No Comments

In October, there was a 7.8% increase in home sales compared to October in 2017.

 

“It was a stronger than average October for home sales and listing activity. Gradually increasing interest rates could be nudging both buyers and sellers from the sidelines of the housing market.”

Tony Schmidt, President of KWAR

 

October Sales Breakdown:

  • 297 Detached Home Sales
  • 128 Condominium Sales
  • 36 Semi-Detached Home Sales
  • 47 Freehold Townhouse Sales

The average sale price of all residential properties sold in October increased by 7.7% to $489,725 compared to October 2017.

Average Home Price:

  • $576,731 Detached Homes
  • $310,215 Apartment Style Condominiums
  • $387,602 Townhomes
  • $403,750 Semis

The median price of all residential properties sold in October increased by 6.5% to $444,500.

Market recap from Tony Schmidt, President of KWAR:

“Not surprisingly we’re seeing the biggest surges in average price happening in the denser forms of housing such as condos.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/october-home-sales/

Kitchener – Waterloo real estate market recap: September 2018

By Market Updates No Comments

In September, there was a 4.7% decrease in home sales compared to September in 2017.

 

“The stress-test that came into force on all new mortgages at the beginning of the year has taken some of the steam out of home sales activity…Meanwhile home prices continue to rise as inventory levels remain rather low.”

Tony Schmidt, President of KWAR

 

September Sales Breakdown:

  • 270 Detached Home Sales
  • 110 Condominium Sales
  • 30 Semi-Detached Home Sales
  • 30 Freehold Townhouse Sales

The average sale price of all residential properties sold in September increased by 10% to $492,398 compared to September 2017.

Average Home Price:

  • $574,653 Detached Homes
  • $325,378 Apartment Style Condominiums
  • $377,442 Townhomes
  • $386,670 Semis

The median price of all residential properties sold in September increased by 10.5% to $453,000.

Market recap from Tony Schmidt, President of KWAR:

“While the mortgage stress was intended to prevent homebuyers in overheated markets like Vancouver and Toronto from borrowing more than they could afford, it has had the unintended consequence of putting the goal of owning a home further out of reach for buyers across all housing markets, including in Waterloo region. This is particularly impactful for first-time homebuyers where every penny counts.”

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/september-home-sales/

Kitchener – Waterloo real estate market recap: August 2018

By Market Updates No Comments

In August, there was a 0.8% decrease compared to last month and an increase of 4.8% compared to home sales a year ago.

 

“On a year-to-date basis, we’re still well below last year’s record-breaking number of home sales but still in line with historical averages.”

Tony Schmidt, President of KWAR

 

August Sales Breakdown:

  • 301 Detached Home Sales
  • 129 Condominium Sales
  • 35 Semi-Detached Home Sales
  • 33 Freehold Townhouse Sales

The average sale price of all residential properties sold in August increased by 11.5% to $493,358 compared to August 2017.

Average Home Price:

  • $583,564 Detached Homes
  • $335,827 Apartment Style Condominiums
  • $350,803 Townhomes
  • $401,011 Semis

The median price of all residential properties sold in August increased 10.4% to $458,000.

Market recap from Tony Schmidt, President of KWAR:

“I certainly don’t see interest in Waterloo region as a place to live and work slowing down anytime soon, so we could definitely stand to see some more housing supply.”

The average days it took to sell a home in August was 28 days.

To learn more about the market and what this means to you, meet with Suzanne for coffee. Book a time with Suzanne now.

Source: kwar.ca/august-home-sales/

 

Skip to content