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Market Updates

Kitchener – Waterloo real estate market recap: October 2020

By November 5, 2020January 24th, 2021No Comments

Last month home sales in Kitchener-Waterloo were up 42% compared to October 2019.

 

“This is the fourth month in a row we have set a monthly record number of home sales…Demand for homes in October continued to strongly outpace supply in Kitchener-Waterloo and area.”

Colleen Koehler, President of KWAR

 

October Sales Breakdown:

  • 417 Detached Home Sales
  • 94 Condominium Sales
  • 134 Freehold Townhouse Sales
  • 46 Semi-Detached Home Sales

The average sale price of all residential properties sold in October was up by 19.4% to $635,301 compared to October 2019.

Average Home Price:

  • $742,596 Detached Homes
  • $395,627 Apartment-Style Condominiums
  • $499.641 Townhomes
  • $539,434 Semis

It took an average of 13 days to sell a home in October, compared to 23 days in October 2019.

Market recap from Colleen Koehler, President of KWAR:

“While our association does not track where buyers are coming through the MLS® System, I can say unequivocally we are seeing strong demand from GTA buyers. What people want and need in a home, and where they want to be located has been redefined in a very short period. Waterloo region is quite rightly, a highly desirable place to own a home.”

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

Find more information about the Kitchener-Waterloo real estate market here.

Source: https://kwar.ca/record-setting-october/

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