Housing Market is Still on Fire! - Kitchener Waterloo October 2021 Housing Market Report
Updated: Feb 10
It continues to be a hot seller's market in Kitchener Waterloo, demand outweighing supply considerably. Home sale prices in turn have continued to climb.
There were a total of 593 residential units sold in October which was 16.5 % fewer units than sold in September and 11.1% fewer than we saw sold in October of 2020. Despite this, it was the second highest October on record for the number of home sales. The average price of all properties sold was $841,764. Which is a big increase of 6.1% over September and a staggering increase of 32.9% over the average of all the properties sold in 2020 in the same month.
Breaking down the types of residential properties sold, we saw 348 detached homes sold in October with an average sale price $997,654. There were a total of 84 condo apartments sold with an average sale price of $464,738. Just 40 semi-detached homes were sold with an incredible average sale price of $726,313. Last but not least, we saw 121 townhomes sold for an average price of $693,324. With no properly priced or presented house lasting long on the current market the average number of days for all properties to get from list to sold was just 10 days. As the demand remains high and inventory low we sit with a meager half month's worth of inventory.