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Market Updates

Kitchener – Waterloo real estate market recap: February 2020

By March 7, 2020No Comments

In February, home sales in Kitchener-Waterloo were up 36.5% compared to February 2019.

 

“After a few consecutive months of sluggish home sales, home buying activity in February was much stronger.”

Colleen Koehler, President of KWAR

 

 

February Sales Breakdown:

  • 272 Detached Home Sales
  • 62 Condominium Sales
  • 101 Freehold Townhouse Sales
  • 32 Semi-Detached Home Sales

The average sale price of all residential properties sold in February increased by 16.3% to $571,023 compared to February 2020.

Average Home Price:

  • $673,825 Detached Homes
  • $371,923 Apartment Style Condominiums
  • $443,382 Townhomes
  • $485,831 Semis

The median price of all residential properties sold in February increased by 18.2% to $550,050.

It took an average of 17 days to sell a home in February, compared to 26 days in February 2019.

Market recap from Colleen Koehler, President of KWAR:

“Like many other markets across the province, the story of our local housing market continues to be one of supply and demand. Market-wide, the number of homes available for sale is simply not keeping up with the number of people wanting to purchase a home in the Kitchener-Waterloo area.”

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/february-2020

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