Here’s a market snapshot of the Kitchener-Waterloo Real Estate Market in December 2021 plus a market recap from the Kitchener-Waterloo Association of REALTORS.
Buyers are still looking for homes in Kitchener-Waterloo. Wondering what this means for your home’s value? Talk to us today!
Home Sales in 2021 Smashed Last Year’s Record-Breaking Total By Over 1000 Units
Source: kwar.ca
Average Price of a Detached Home Reaches Million-dollar Milestone in December
KITCHENER-WATERLOO, ON (January 5, 2022) –– The 7,581 residential homes sold through the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in 2021 represent an increase of 18.3 per cent compared to last year’s record-setting number of sales that ended the year 2020.
On a monthly basis, there were 344 residential homes sold last month, a decrease of 1.7 percent compared to the same month last year.
“Home sales in 2021 have absolutely smashed last year’s record by more than 1,000 units,” says KWAR’s president, Megan Bell. “While this is a good time to sell your home, it remains a tremendously difficult market for buyers. Affordability for all types of housing within our community continues to be a concern which we expect to continue throughout 2022.”
Total residential sales in December included 177 detached (down 12.4 per cent from December 2020), and 56 condominium units (down 11.1 per cent). Sales also included 23 semi-detached homes (up 9.5 per cent) and 88 townhouses (up 37.5 per cent).
For 2021, total residential sales included 4,272 detached (up 10.8 per cent), and 1,127 condominium units (up 43.4 per cent). Sales also included 578 semi-detached homes (up 31.1 per cent) and 1,602 townhouses (up 20.9 per cent).
In December, the average sale price for all residential properties in the Kitchener-Waterloo area was $842,014. This represents a 32.5 per cent increase over December 2020 and a 2.5 per cent increase compared to November 2021.
- The average price of a detached home was $1,021,353. This represents a 34.7 per cent increase from December 2020 and an increase of 3.4 per cent compared to November 2021.
- The average sale price for an apartment-style condominium was $500,352. This represents an increase of 30.6 per cent from December 2020 and an increase of 1.0 per cent compared to November 2021.
- The average sale price for a townhouse was $717,475. This represents a 39.4 per cent increase from December 2020 and an increase of 2.1 per cent compared to November 2021.
- The average sale price for a semi was $770,246. This represents an increase of 33.5 per cent compared to December 2020 and an increase 7.3 per cent compared to November 2021.
On a year-to-date basis, the average sale price for all residential properties in the Kitchener-Waterloo area increased 25.8 per cent to $770,596 compared to 2020.
- The year-to-date average price of a detached home was $920,726. This represents a 28.0 per cent increase compared to 2020.
- The year-to-date average sale price for an apartment-style condominium was $448,208. This represents an increase of 17.3 compared to 2020
- The year-to-date average sale price for a townhouse was $632,875. This represents an increase of 34.9 per cent compared to 2020.
- The year-to-date average sale price for a semi was $673,543. This represents an increase of 29.4 per cent compared to 2020.
