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Market Updates

Kitchener – Waterloo Real Estate Market Recap: October 2021

By November 4, 2021November 8th, 2021No Comments

Last month’s home sales in Kitchener-Waterloo were down 11.1% compared to October 2020.

 

“While not as red-hot as last year’s record-breaking October, it was still a higher-than-normal number of home sales for the month, and the second-highest October on record…The number of listings coming on the market can scarcely keep up with the demand for homes in Waterloo region, and the continued price growth we see in October reflects this.”

N Pohl, President of KWAR

October Sales Breakdown:

  • 348 Detached Home Sales
  • 84 Condominium Sales
  • 40 Semi-Detached Home Sales
  • 121 Freehold Townhouse Sales

The average sale price of all residential properties sold in October is up by 32.9% to $841,764 compared to October 2020.

Average Home Price:

  • $997,654 Detached Homes
  • $406,400 Apartment-Style Condominiums
  • $603,900 Townhomes

It took an average of 10 days to sell a home in October, compared to 13 days in October 2020. 288 homes were available for sale at the end of October, a decrease of 36% compared to October of last year.

Market recap from the President of KWAR:

“With ongoing constraints on supply versus demand, home prices continued to accelerate in October.”

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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