Kitchener Waterloo Real Estate Market Report

Year to date sales are 2.6% higher than last year.

Paused Spring market more than made up for already 

758 residential homes sold in September

This is the most ever recorded for the month. September’s home sales represented an increase of 41.6% compared to the same month last year, and an increase of 8% compared to the previous month. The previous ten-year average number of residential sales for September is 460.

Total residential sales in September included 431 detached homes (up 28.6% from September 2019), and 93 condominium apartments (up 127%).  Sales also included 178 townhouses (up 43.5%) and 54 semi-detached homes (up 59%).

The average sale price of all residential properties sold in September increased 17.5% to $637,691 compared to the same month last year. Detached homes sold for an average price of $768,762 an increase of 25%. 

The median price of all residential properties sold in September increased 13.7% to $580,250. The median price of a detached home during the same period increased 16.5% to $676,000.

There were 929 new listings added to the MLS® System in KW and area last month, an increase of 13% compared to September of last year, and 17.7% more than the previous ten-year average for September. The number of Months Supply (absorption rate) continues to be just 1 month. The previous ten-year average supply of homes for September was 3.3 months, and in the past 5 years, the average supply for September was 2.2 months.

Year to date up 2.6%

The year-to-date number of residential sales has increased 2.6% over 2019 indicating that the decreased activity in April and May has been more than made up in the past four months.

Further reading:

Kitchener-Waterloo Real Estate News

Keith’s real estate blog

Real estate videos

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