Kitchener-Waterloo Real Estate Update, Forecast and Trends

Sell your home in autumn

How’s the Kitchener Waterloo Real Estate Market.

A look at how we got here and where we are going

Kitchener-Waterloo Real Estate Market Report

506 residential homes sold last month. This is a decrease of 32.1% compared to last September and a decrease of 5.9% compared to August. Total residential sales in September included 267 detached (down 37.3% from September 2020), and 83 condominium units (down 11.7%). Sales also included 41 semi-detached homes (down 21.2%) and 115 townhouses (down 33.5%). In September, the average sale price for all residential properties in the Kitchener-Waterloo area was $792,599. This is a 24.2% increase over September 2020 and a 5.7% increase compared to August 2021. The average price of a detached home was $963,646. This is a 24.9% increase from September 2020 and an increase of 7.9% compared to August 2021. The average sale price for an apartment-style condominium was $497,949. This is an increase of 28.6% from September 2020 and an increase of 12.4% compared to August 2021. The average sale price for a townhouse was $646,026. This is a 35.7% increase from September 2020 and an increase of 3.7% compared to August 2021. The average sale price for a semi was $686,316. This is an increase of 26.1% compared to September 2020 and an increase of 0.5% compared to August 2021.

What Will Happen With Home Price Appreciation in 2022?

Prices are the result of the balance between supply and demand. The demand for single-family homes has been strong over the last 18 months. The supply of houses available for sale has been near historic lows. Given the widespread demand, the single-family home market is estimated to remain undersupplied in 2022. Price appreciation is expected to slow in 2022 when compared to the record highs of 2021. Expect a 5% appreciation level next year.

Kitchener Waterloo 7 day real estate market trends.

What happened over past 10 weeks? No real change in average list price over, but close prices are slightly up.

Laurel Dam

More from Keith Marshall
Waterloo Region School Rankings 2009-2010
A few months ago, I wrote a blog  “Where are the best...
Read More
Leave a comment

Your email address will not be published. Required fields are marked *