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
