Kitchener-Waterloo Real Estate Market Report

A Record Number of Homes Sell (again)

A New Record for October Sales

There were 691 residential homes sold in October, the most ever recorded for the month. The previous ten-year average number of residential sales for October is 471.

October’s home sales represented an increase of 28% compared to the same month last year, and a decrease of 9.6% compared to the previous month. 

Total residential sales in October included 417 detached homes (up 25.6% from October 2019).

The average sale price of all residential properties sold in October increased 19.4% to $635,301 compared to the same month last year.

Detached homes sold for an average price of $742,596 an increase of 21.7%. 

The median price of all residential properties sold in October increased 19.2% to $595,000 

The median price of a detached home during the same period increased 20.5% to $686,000.

There were 783 new listings added to the MLS System, an increase of 16% compared to October of last year, and 11.5% more than the previous ten-year average for October.

The average days to sell in October was 13 days, compared to 23 days in October 2019.

The number of Months Supply continues to be very low at just 1 month for the month of October. The previous ten-year average supply of homes for October was 3.2 months.

Further reading:

Kitchener-Waterloo Real Estate News

Keith’s real estate blog

Real estate videos

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