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.