What’s happening with 2 bedroom condo townhouses in Kitchener-Waterloo.

This is the general information on what’s happening in Kitchener-Waterloo Association of Realtors with 2 bedroom condos.

What’s happening with 2 bedroom condo townhouses in Kitchener-Waterloo

(Transcript)

Well hello there. I’m Keith Marshall.

What’s happening with… 

It is time again for a look at what’s happening with… in this case what’s happening with 2 bedroom condo townhouses in Kitchener-Waterloo. 

Kitchener-Waterloo Association of Realtors on 2 bedroom condo townhouses

What we always like to do is we start with this one. This is the general information on what’s happening in Kitchener-Waterloo Association of Realtors with 2 bedroom condos. 

Average Prices of 2 bedroom condo townhouses

We like to start with the the big picture and that’s provided through infosparks. We’re going to look at the Kitchener-Waterloo Real Estate Association as a whole for 2 bedroom condo townhouses. And we are going to start with average price. So let’s go to last year. January 2020 and the average price was $425k. As we went through the year it took a big dip here in April. And then after April it just continue to go up and up and up until October where the average price for a two-bedroom condo townhouse was $445k. And then it dipped a little bit over November and then in December we ended up the year at $457,832. So the average price at the end of the year for two bedroom condo townhouses in Kitchener-Waterloo Market as a whole was that.

Let’s take a look at new listings over the year. In March we are we were climbing. Of course in April we fell. And then we hit a peak of new listings in September with a hundred and twenty one. Then the number of new listings dropped and dropped and dropped ending out to December 2020 with only 34 new listings in that month. 

Of course the number of homes for sale also fell starting in June. At the end of the December we had 29 homes for sale. Not a lot.

The number of sales will be reflected in that as well as September was our peak months. Then December we only had 43 

2 bedroom condo townhouses days on Market

Days on Market over the year. December is interesting. It went up to 29 but we will see what happens. In November we were at 17 days on market. And this is longer than your average days on market probably because when you buy a condo townhouse, you often have to wait for the status certificate which can take ten days or more.

Months Supply

The month supply of two bedroom condo townhouses hit a peak in June with two months and then it fell throughout the year to less than half the month supply in December. These are the most recent latest statistics. These ones are always about a month behind. But I can say that January’s been very a tight inventory month so I expect this trend will continue. 

We are only really concerned with what the sale price was in relation to what the list price was. We ended out the year in December at a 6% over list price in November it was 5.5. So you can see it went up since April where it was actually below list price which was probably the only time since 2019. 

And finally price per square foot and here we hit in August $411 per square foot. Then in November we were a little bit below that and by December we’re at $436.

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