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Market Updates

Kitchener – Waterloo real estate market recap: May 2020

By June 5, 2020No Comments

In May, home sales in Kitchener-Waterloo were down 40.5% compared to May 2019.

 

“Real estate was included as an essential service in Ontario from the outset of the COVID-19 shutdown, and Realtors have stepped up to ensure those who need to list or buy can do so safely.”

Colleen Koehler, President of KWAR

 

 

May Sales Breakdown:

  • 255 Detached Home Sales
  • 42 Condominium Sales
  • 79 Freehold Townhouse Sales
  • 43 Semi-Detached Home Sales

The average sale price of all residential properties sold in May increased by 6.5% to $568,275 compared to May 2019.

Average Home Price:

  • $657,274 Detached Homes
  • $330,336 Apartment-Style Condominiums
  • $454,197 Townhomes
  • $482,479 Semis

It took an average of 20 days to sell a home in May, compared to 19 days in May 2019.

Market recap from Colleen Koehler, President of KWAR:

“In May we saw the strong appetite for homes in the Kitchener-Waterloo area is still very much alive…But as the virus continued to circulate in the community many would-be sellers were reluctant to put their homes on the market. For the homebuyers who cannot wait out the pandemic, they are not finding any fire sales as homes are not only maintaining their value, but also increasing.”

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/may-home-sales-climb/

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