Kitchener Waterloo has the 3rd tightest real estate market in Canada
Expect growth through 2023
Kitchener Waterloo Real Estate Market Report
597 residential homes sold last month Compared to the same month last year, November sales were up 4.4% The previous ten-year average number of residential sales for November is 446. Total residential sales in November included 324 detached (down 3.9% from November 2020). 106 condominium units sold last month (up 27.7%). Sales also included 30 semi-detached homes (down 25%) and 136 townhouses (up 21.4%). In November, the average sale price for all residential properties in the Kitchener Waterloo area was $821,969. This is a 28.9% increase over November 2020 The average price of a detached home was $990,447. This is a 31% increase from November 2020.
Canadian real estate prices expected to rise more than 9 per cent in 2022.
KW may rise by 6%
One million new homes needed in Ontario in next 10 years
With Ontario’s population growing rapidly, one policy think tank argues that Canada’s most populous province will need about one million new homes over the next 10 years.
3 real estate predictions for 2022.
Sales will dip. Prices will flatten.