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Market Updates

Kitchener – Waterloo real estate market recap: August 2020

By September 3, 2020No Comments

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

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