January 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 January 2022 plus a market recap from the Kitchener-Waterloo Association of REALTORS.

May be an image of text that says 'THE CINDY CODY TEAM KITCHENER-WATERLOO REAL ESTATE MARKET JANUARY 2022 402 RESIDENTIAL HOMES SOLD 74 24 879 DETACHED HOMES SOLD 217 CONDOMINIUMS. SEMI-DETACHED HOMES & TOWNHOUSES SOLD $1,152,707 AVERAGE SALE PRICE (ALL RESIDENTIAL) $842,014 AVERAGE SALE PRICE (DETACHED HOMES) ↑ AVERAGE SALE PRICE OF ALL RESIDENTIAL PROPERTIES +37.1% JAN 2021 FROM AVERAGE SALE PRICE OF DETATCHED HOMES 39.7% AN 2021 FROM PROVIDED BY KITCHENER-WATERLOO ASSOCIATION OF REALTORS® RE/MAX TwinCity'

Buyers are still looking for homes in Kitchener-Waterloo. Wondering what this means for your home’s value? Talk to us today!

 

Number of Home Sales in January Set New Record

Source: kwar.ca

Prices Continue To Escalate

KITCHENER-WATERLOO, ON (Feb 3, 2022) –– The 402 residential homes sold last month through the Multiple Listing Service® (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR), set a new record high for January. On a year-over-year basis January’s sales were up 12.3 per cent; compared to last month they were up 16.5 per cent. The previous ten-year average number of residential sales for January is 291.

“While it’s a new year, the song remains the same with homebuying demand outstripping supply in January,” said Megan Bell, President of KWAR. “This has resulted in price jumps across all property types.”

Total residential sales in January included 217 detached (up 4.8 per cent from January 2021), and 74 condominium units (up 1.4 per cent). Sales also included 24 semi-detached homes (up 14.3 per cent) and 87 townhouses (up 52.6 per cent).

In January, the average sale price for all residential properties in the Kitchener-Waterloo area was $955,665. This represents a 37.3 per cent increase over January 2021 and a 13.6 per cent increase compared to December 2021.

  • The average price of a detached home was $1,152,707. This represents a 35.5 per cent increase from January 2021 and an increase of 12.9 per cent compared to December 2021.
  • The average sale price for an apartment-style condominium was $538,239. This represents an increase of 42.2 per cent from January 2021 and an increase of 7.7 per cent compared to December 2021.
  • The average sale price for a townhouse was $836,306. This represents a 47.9 per cent increase from January 2021 and an increase of 16.7 per cent compared to December 2021.
  • The average sale price for a semi was $849,845. This represents an increase of 35.6 per cent compared to January 2021 and an increase of 10.3 per cent compared to December 2021.

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