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Market Updates

Kitchener – Waterloo Real Estate Market Recap: July 2021

By August 7, 2021No Comments

Last month’s home sales in Kitchener-Waterloo were down 17% compared to July 2020–still above-average for sales for the month of July.

 

“Although home sales slowed down to some degree in July compared to June, overall demand remains very strong…The current inventory of homes available for sale in the Kitchener-Waterloo and area is extremely low, making Waterloo Region one of the most competitive markets in Ontario.”

N Pohl, President of KWAR

 

July Sales Breakdown:

  • 339 Detached Home Sales
  • 91 Condominium Sales
  • 46 Semi-Detached Home Sales
  • 135 Freehold Townhouse Sales

The average sale price of all residential properties sold in July is up by 18.2% to $755,681 compared to July 2020.

Average Home Price:

  • $907,192 Detached Homes
  • $429,630 Apartment-Style Condominiums
  • $623,732 Townhomes
  • $667,570 Semis

It took an average of 11 days to sell a home in July, compared to 17 days in July 2020. 281 homes were available for sale at the end of July, a decrease of 52.7% compared to July of last year.

Market recap from the President of KWAR:

“The housing market took a bit of a breather last month. July is typically a quieter month with families taking vacation, and with the region coming out of lockdown there were certainly more staycations happening. But we do anticipate the market will pick up steam again and it will be another busy fall.”

To learn more about the market and what this means for you, connect with Suzanne.

Source: kwar.ca/category/market-updates

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