February 2022 Kitchener-Waterloo Real Estate Market Update

Cindy Cody Kitchener-Waterloo Real Estate Market Update

Here’s a market snapshot of the Kitchener-Waterloo Real Estate Market in February 2022 plus a market recap from the Kitchener-Waterloo Association of REALTORS.

May be an image of 1 person and text that says 'THE CINDY CODY TEAM a step above MARKET REPORT WATERLOO REGION RF/MA winCty REALTY BROKE BROKERAGE S wned 600 FEBRUARY 2022 RESIDENTIAL HOMES SOLD 331 110 44 115 DETACHED HOMES SOLD CONDOMINIUMS, SEMI-DETACHED HOMES & TOWNHOUSES SOLD $1,007,109 $1,214,067 AVERAGE SALE PRICE ALL RESIDENTIAL) AVERAGE SALE PRICE (DETACHED HOMES) AVERAGE SALE PRICE OF ALL RESIDENTIAL PROPERTIES AVERAGE SALE PRICE OF DETATCHED HOMES 33.6% FEB 2021 FROM 33.1% FEB 2021 FROM ALL STATS PROVIDED BY 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!

 

Above Average Number of Home Sales and More Listings in February

Source: kwar.ca

KITCHENER-WATERLOO, ON (Mar 3, 2022) –– The 600 residential homes sold last month through the Multiple Listing Service® (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) is almost on par with February 2021, and an increase of 48.5 per cent compared to the previous month. The previous ten-year average number of residential sales for February is 424.

“In January we reported that the average price of a detached home crossed the million-dollar mark for the first time in December. Now in February, we have reached a new milestone with the average sale price of all residential property types coming in at just over one million dollars in the Kitchener-Waterloo and area,” said Megan Bell, President of KWAR. “While I think it’s premature to suggest this is the new norm, it does reflect the continued appeal of Waterloo Region to buyers. We also need to be aware and recognize the impact this has on affordability for a growing number of people.”

Total residential sales in February included 331 detached (down 2.1 per cent from February 2021), and 110 condominium units (up 7.8 per cent). Sales also included 44 semi-detached homes (down 4.3 per cent) and 115 townhouses (up 2.7 per cent).

In February, the average sale price for all residential properties in the Kitchener-Waterloo area was $1,007,109. This represents a 33.6 per cent increase over February 2021 and a 5.6 per cent increase compared to January 2022.

  • The average price of a detached home was $1,214,067. This represents a 33.1 per cent increase from February 2021 and an increase of 5.3 per cent compared to January 2022.
  • The average sale price for an apartment-style condominium was $572,731. This represents an increase of 37.4 per cent from February 2021 and an increase of 6.9 per cent compared to January 2022.
  • The average sale price for a townhouse was $862,994. This represents a 41.6 per cent increase from February 2021 and an increase of 2.1 per cent compared to January 2022.
  • The average sale price for a semi was $917,535. This represents an increase of 33.8 per cent compared to February 2021 and an increase of 8.0 per cent compared to January 2022.

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