RECORD-BREAKING RESIDENTIAL HOME SALES IN DECEMBER CAPS OFF AN EXCEPTIONAL 2020
KITCHENER WATERLOO’S RESIDENTIAL HOMES IN HIGH DEMAND
There were 6,492 residential homes sold in 2020, an increase of 9% compared to 2019.
Compared to previous years, 2020’s annual sales were 5% above the previous 5-year average, and 11.6% above the previous 10-year average.
On a monthly basis, there were 42% more home sales compared to last year, with 351 home sales in the month of December.
December’s home sales were the highest on record for the month and the sixth consecutive month of record home sales in Kitchener-Waterloo
2020’s annual number of transactions for only the third time in our history was over 6,000.
Unprecedented Residential Sales
Total residential sales in December included 204 detached (up 46.7%).
For 2020, total residential sales included 3,899 detached (up 8.1%).
804 condominium units were sold in 2020 (up 18.9%).
Sales also included 450 semi-detached homes (up 6.8%) and 1,346 freehold townhouses (up 7%).
In December, the average sale price of all residential properties sold in 2020 increased by 14.4% to $634,545 compared to 2019.
Detached homes sold for an average price of $755,618 an increase of 11.9% compared to December 2019.
2020 – An exceptional year
On a year-to-date basis, the average sale price of all residential properties sold in 2020 increased by 16.1% to $612,521 compared to 2019.
Detached homes sold for an average price of $719,203 an increase of 16.9% compared to 2019.
During this same period, the average sale price for an apartment-style condominium was $391,698 for an increase of 13.7%.
Townhomes and semis sold for an average of $468,891 (up 14.6%) and $520,753 (up 18.3%) respectively.
Further reading:
Kitchener-Waterloo Real Estate News
Keith’s real estate blog
Real estate videos
Source: KWAR
