Kitchener-Waterloo Real Estate Market Report January 2020 — Consumers can’t buy what’s not there.
- For the third consecutive month, the number of sales was down in January.
- 281 residential homes sold in January — a decrease of 8.2% compared to the previous month.
- Total residential sales in January included 153 detached homes — down 19%.
- Fewer January sales is a result of fewer homes being put up for sale.
- Price acceleration is the result.
- The average sale price of all residential properties sold in January increased 15.7% to $561,029 compared to the same month last year
- Detached homes sold for an average price of $670,944 — an increase of 18.8%.
- The average sale price for an apartment-style condominium was 382,636 for an increase of 26.1%.
- Townhomes sold for an average of $439,765 — up 20.3%
- Semi-detached homes sold for an average of $484,190 — up 18.7%
- The median price of all residential properties sold in January increased 17.3% to $536,000
- The median price of a detached home increased 22.6% to $650,000.
- 464 residential properties were listed last month KW and area — down 21.1% compared to January of 2019
- This is a decrease of 35.4% in comparison to the previous ten-year average for January.
- The total number of homes available for sale in active status at the end of January was 392, a decrease of 38.7% compared to January of last year
- This is 63.7% below the previous ten-year average of 1,080 listings for January.
- The number of Months Supply (absorption rate) in January was just 0.8 months — 38.5% below the same period last year.
- The previous ten-year average supply of homes for January was 2.32 months.
- In the past 5 years the average supply for January was 1.96 months.
- The average days to sell in January was 22 days, compared to 27 days in January 2019.
Statistics provided by KWAR
What happened in 2019? market report
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